May 18, 2000 | Read Time: 1 minute
Values-Based Estate Planning: A Step-by-Step Approach to Wealth Transfer for Professional Advisors
by Scott C. Fithian
The fear of losing control over one’s finances can be a major obstacle for a donor who wishes to make a major gift, writes the author. He offers planned-giving professionals ways to ease their clients’ worries and ensure smooth transfers of assets.
Mr. Fithian, president of the Legacy Companies, in Boston, defines his approach as one in which “the focus is on what your client values, rather than the value of what your client owns.”
He writes that many financial advisers take too much for granted about their clients’ knowledge of the different options for making a gift to charity. The problem compounds when, he says, advisers mistake confusion with a call for more information.
Rather than deluge donors with options, Mr. Fithian writes, advisers should spend time convincing them that planned giving is an opportunity and not a responsibility. He explains how to draft a “family financial philosophy” that clearly defines a client’s values and goals.
He provides a questionnaire and an interview guide for advisers to use when consulting. He explores different scenarios for calculating estate allocation and explains how to win the trust of clients by taking their best interests to heart.
“An advisor’s unique capacity to build and maintain lasting relationships is the key to maintaining a competitive advantage,” writes Mr. Fithian.
Publisher: John Wiley & Sons, 1 Wiley Drive, Somerset, N.J. 08875; (800) 225-5945; fax (908) 302-2300 or (800) 597-3299; http://www.wiley.com; 271 pages; $39.95; I.S.B.N. 0-471-38040-7.
