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I've been walking over sales in the past and I have decided to change that. The lack of sale isn't what I am tired of, it's not having a solution for my clients.
I often have clients who has $5k to $25k just sitting in a fund or random account set aside for a nehpew or grandchild.
I often proposed a life policy on person with the money. However, they have valid reasons for wanting to be able to give the money to the child while they are alive (college, first home, car, etc.). At this point I often let it go.
I've read threads about 529's and WL policies on the kids. I've even looked at threads on using annuities. I haven't concluded what is the "best" answer. Of course it all depends on what the client wants.
So my question - what do you recommend in this situation? Let's use a 65 year old who has $15k set aside for a nephew and wants to be able to add to it over time. This person also wants to have it available to the nephew as they might need it later in life.
I often have clients who has $5k to $25k just sitting in a fund or random account set aside for a nehpew or grandchild.
I often proposed a life policy on person with the money. However, they have valid reasons for wanting to be able to give the money to the child while they are alive (college, first home, car, etc.). At this point I often let it go.
I've read threads about 529's and WL policies on the kids. I've even looked at threads on using annuities. I haven't concluded what is the "best" answer. Of course it all depends on what the client wants.
So my question - what do you recommend in this situation? Let's use a 65 year old who has $15k set aside for a nephew and wants to be able to add to it over time. This person also wants to have it available to the nephew as they might need it later in life.
