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At what is already an emotional time, when a loved one has passed away, not having a valid Will in place can cause families to face delays, legal disputes and potentially unnecessary tax bills. As an adviser, helping clients put a clear plan in place reduces this risk and most of all provides that peace of mind and security.
Estate Planning creates a bridge to the next generation. By helping clients and providing this service to structure their Estate, it also allows you to build up a relationship with their beneficiaries – potentially even becoming their trusted adviser in the future. This intergenerational link can create long-lasting business value.
Effective Estate Planning can also minimise Inheritance Tax and can protect assets from being eroded by unnecessary costs or creditors. Even simple Estate Planning can make a significant financial difference to a clients estate.
So, how can you ensure that you are protecting your clients and providing the most holistic service? At APS Legal, we allow associates to add Estate Planning and Will Writing along with the option of Probate services onto their existing business, to provide a more holistic service to clients and with the added benefit of an extra income stream. Our unique business model allows the associate have full control of their clients but with APS completing the time consuming back-office work, you are able to charge clients as you feel suitable and pay APS a set documentation fee.
We understand that the same level of membership doesn’ t work for everyone as we are all different and have different needs and priorities, so we currently offer three different types of membership:
REFERRALS FULL ASSOCIATE PROBATE ASSOCIATE
To be able to assist your clients with getting a Will or Lasting Power of Attorney put in place without having to undertake the additional work yourself. We would just need your clients’ details and then one of our Estate Planning only associates( non- IFA) would be able to deal with this for you, with you receiving a 15 % referral fee on completion of the case.
Training needed: None
Costs: None
Advantage: No fees, additional service to offer clients.
Disadvantage: Not keeping all the clients work in-house. Missing out on a bigger income stream.
This route gives you full control of advising your clients on all aspects for Wills, Lasting Powers of Attorney and Trusts. You would meet the client as you would as usual, advise them on their specific situation and take instructions from them. We then draft all documents in-house, all, of course, covered under our PI insurance. Who is better to advise your clients on their future finances than you?
Training needed: 3-Day training course, with examination.
Costs: Monthly Associate fee of £ 85p / m for the first 12 months, dropping to £ 40p / m from month 13 onwards, documentation fees on each.
Advantage: Full range of additional service to offer clients, enhances relationship for future engagement, increased income stream.
Disadvantage: None
This route enables you to offer Estate Administration services to your clients. You would meet the executors and advise them on the specific situation and then take information from them on the estate. We provide a fixed quote, all, of course, covered under our PI insurance. You are essentially the client contact, and all the work is provided through APS Legal and our panel solicitors.
Training needed: Two 45-minute webinars and multiplechoice test( can be done at any time, no need to wait for a course date).
Costs: £ 150 per year( Just one case a year would more than cover this fee.)
Advantage: Additional service to offer clients and opportunity to provide financial advice to the beneficiaries.
Disadvantage: None
For further information, please watch our Introduction to Will Writing & Estate Planning webinar at: https:// event. eu. on24. com / wcc / r / 8000138458 / 8DCACD385AE087483F11C3C5E39BEB3D or contact us at: enquiries @ aps-legal. co. uk
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