Ways to Help Clients Tie Up Loose Ends and Save Money!

[jacobtn]

Thanks op for posting. I think it is funny that some people jump to conclusions. *sarcasm on* I should sue the op for opening up my mind to this information. Just because you make some one aware of an issue does not mean you are giving legal advice.

The world of forums would be in a whole heap of law suits if mentioning something = legal advice or telling someone what to do.

Ever have a friend give you a stock tip? Sue them
Next time someone shows you a piece of equipment at the gym, sue them. Unless they tell you to consult your physician first.

Friend suggests a diet because that's how they lost weight. Sue them. That is medical advice.

Why do you think many carriers req e&o now? Like it or not, its the world we live in. Theres a thread on this site right now where an agent is facing jail time for selling an annuity.

 

[Newby]

Thanks op for posting. I think it is funny that some people jump to conclusions. *sarcasm on* I should sue the op for opening up my mind to this information. Just because you make some one aware of an issue does not mean you are giving legal advice.

The world of forums would be in a whole heap of law suits if mentioning something = legal advice or telling someone what to do.

Ever have a friend give you a stock tip? Sue them
Next time someone shows you a piece of equipment at the gym, sue them. Unless they tell you to consult your physician first.

Friend suggests a diet because that's how they lost weight. Sue them. That is medical advice.

Insurance agents talking about legal or investment opinions are held to a much higher standard than your neighbor or radio entertainers (Dave Ramsey, Clark Howard, Suzi Orman, etc.)

It's good for an agent to have basic understanding and be able to explain what a will is or what probate is but getting into do it yourself instruction is walking on thin ice.

It's also a huge distraction to what we really do. People will buy insurance from you if you are a good well spoken, honest insurance agent. You don't need to be anything else.

 

[VolAgent]

There is a world of difference between a friend suggesting a stock, or the guy next to you showing you a new exercise and a licensed professional offering advice outside his field.

 

[xrac]

Referral to a competent senior law attorney is the best advice. Most fe clients will not have large assets

 

[Cornelius]

"My Insurance agent said" can get a person in a whole lot of mess if someone is advising out of their license. Many people will talk abut Wills but do they have a clue when and if an action will void a Will? What if a trust would have been a better option but it's not mentioned?

"My Insurance Agent said this or my insurance agent helped me fill out this (Legal) form". Then the next question could be are they a practicing Attorney?

Even the do it yourself forms say people should have them reviewed by an Attorney.

 

[Shalom]

For those of you who jump to conclusions without READING.
I never said do this for them. Just let them know that this could be a concern and point them in the direction. HOWEVER, a lot of people read the OP and JUMPED to the conclusion that it was suggested we start giving legal advice.
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Even the do it yourself forms say people should have them reviewed by an Attorney.

Who said to not have them talk to a lawyer? not I or the OP.
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Referral to a competent senior law attorney is the best advice. Most fe clients will not have large assets

The OP suggestion I think and mine is to let them know there could be an issue, that is all, and then refer them to someone.

Then again I come from a world of educating people and networking, letting them know if they want more information who exactly they should talk to, or where they can find more information.

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There is a world of difference between a friend suggesting a stock, or the guy next to you showing you a new exercise and a licensed professional offering advice outside his field.

Who was giving advice?

 

[pcbinsurance]

"None of this is my words, but the value to add is immense whether its a typical FE client or someone else you are helping out by educating them on their options. Some agents prefer not to get involved or to offer such a type of value aside from helping them take out a policy. To each their own, but I thought for people who look for prospecting ideas or want to add a little more value to their deals, prospecting, or client service, this is perhaps one simple idea, and it all revolves around one word

PROBATE."
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Don't get us wrong. The OP is a valued contributor on this forum. I think when you are going to "educate" someone on their "options" regarding probate, you have to be careful. I don't think anyone is doing anything other than using the word "caution" regarding things of this nature.

 

[captain94]

Their are a lot of reasons someone may want to put assests in a trust not just to avoid probate also to avoid a medicade spenddown if they end up in LTC I offer my clients to a Attorney that I use and trust and he handles Elder Law gives them a discount if they are a client of mine....