Florida Estate Planning Attorney Believes Many Are Misinformed, Confused About Financial Planning

The Florida estate planning case involving Terri Schiavo caused many people living in Florida and other states to get serious about estate and financial planning issues (in the Schiavo case, a woman who was in a vegetative state became the center of a legal battle between her husband and her parents on who had the power to decide whether or not to remove the feeding tube). However, according to Florida attorney Holly Thomas, many potential financial planning clients do not seek help because they are confused about the financial planning process.

Thomas believes that one of the biggest problems facing the financial planning industry is confusion surrounding the topic of financial planning and the high levels of misinformation clients receive. For example, Thomas believes that the different terms used to describe various financial planning professionals (i.e. private banker, investment manager, financial planner, etc.) can lead some clients to question who they should turn to for help with their financial planning. In an effort to combat this misinformation and confusion, Thomas sends out a monthly newsletter and authored a book to help clients make financial decisions.

See Lee Gjertsen, Thoughtful Estate Planning is Key to Any Financial Plan, Financial Planning, Aug. 8, 2011.

Special thanks to Jim Hillhouse (WealthCounsel) for bringing this article to my attention.