Estate Planning That Sticks

Advisors know estate planning is critical - but getting clients to act on it is the real challenge. Too often, it’s pushed aside until it’s too late. A scenario such as “I had a client pass away in their 40s with no trust. Their assets were tied up in probate for over a year which led to difficulties in paying for the children’s expenses and other liabilities” can help bring the necessity to life. Sharing anecdotes about other clients who failed to set-up their estate plan can often jolt clients into action.

Estate planning isn’t just about wealth transfer. It’s about protecting loved ones, not tying up assets in unnecessary legal proceedings, reducing tax exposure, and making sure wishes are honored.

🎯 A comprehensive estate plan should cover:

• A complete inventory of assets — accounts, properties, personal items, and digital assets

• Proper beneficiary designations across policies, retirement plans, and accounts

• Core legal documents like a trust, pour-over will, power of attorney, and healthcare directive

• A clear plan for minor children, if applicable

• Named fiduciaries (executor, trustee, healthcare proxy) who can carry out your wishes

• A log of key contacts, subscriptions, passwords, and even funeral preferences

• A proactive approach to tax planning to preserve wealth and reduce potential liabilities

  
  

The first 10 days are often overlooked - who gets notified, which bills get paid or how your family accesses key information. Estate planning is not just about money; it’s about clarity, reducing stress, and helping families through difficult times.

It is also not a one time event but rather requires regular updates as life changes. Marriage may mean adding a spouse to your will, buying a home calls for updating your asset inventory, moving states affects legal documents, and tax law changes can impact what heirs owe. Regular reviews keep your plan current and your loved ones protected.

✨ This is where Wavvest Planning changes the game:

• Create interactive estate visualizations showing how assets flow under different death scenarios

• Help clients understand complex structures like GRATs, SLATs, CRUTs, and ILITs through clean, digestible diagrams

• Lead more engaging, forward-looking conversations without jumping straight into legal forms

  
  

📌 Bottom line: Clients don’t need a binder full of documents, they need clarity. Canvas helps advisors bring estate planning to life, making it easier for clients to understand, engage, and take action.