What To Do When A Client Is Indifferent About Estate Planning

Many segments of the population have little interest in estate planning based on false assumptions that they have nothing to gain. Millennials in particular, the generation born between 1980 and 2000, have shows little inclination towards preparing their estate for the unexpected. A common sentiment among them is that they are young and have no need to prepare for death, divorce, or disability. However, as millennials begin to achieve high earnings they will need to have plans that express their wishes on how to manage their estate in the event of a life crisis.

When meeting with younger clients, be sure to inform them on the relative simplicity of creating basic estate plans such a a will and health care directive. In addition, stress that estate preparation will spare those they love the burden of having to make difficult, and often contentious, decisions if an unexpected disability or death occurs. Millennials, in my experience, are receptive to prudent advice when offered even if the subject is one that they have avoided until that time.

See Miriam Rozen, Estate Planning: How to Reach Apathetic Clients, Financial Planning, August 10, 2015.

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