There is a growing category of people who are seeking advice from estate and financial planners—wealthy, single, and childless individuals. Oftentimes, this group of people does not consider their own legacy because they have no one to leave it to. Advisors can help these individuals start investing their money in areas like charitable giving, retirement trusts, and long-term care needs. While an estate planner can help these individuals find close friends that will become beneficiaries to the estate. The risk of not planning is too substantial not to help this type of client extend their legacy.
See Christopher Robbins, Wealthy Clients Often Neglect Their Own Legacies, Financial Advisor, September 7, 2016.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
