When looking to create an estate plan alongside a financial advisor, there are several things to consider:
For instance, who is named as either the executor or executrix? What’s going to happen when your client passes away? Are those assets going to another firm? Is it another corporate institution named as executor?
In this episode, Michelle Cooper from XML Financial Group sheds light on everything you need to know when helping your clients create a sound estate plan, especially when caught in the middle of a life transition such as a divorce, separation, birth of a child, etc. Michelle explains the number of strategies you can use through different account policies — all about easing the process for you and your client.
Michelle discusses:
- The difference between a will and an estate plan
- The documentation you should review before creating an estate plan for your client
- Some positive changes that come out of a separation
- Tips on overcoming sudden life changes and ways you can pick yourself back up, creating new financial plans
- And more!
Resources:
- “I’ve Still Got Me: A Widow’s Journey to Love, Happiness & Financial Independence” by Michelle Cooper
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About Our Guest:
Michelle Cooper is the Director and Co-founder of XML-W, a division of XML Financial Group that focuses on the planning and financial needs of women at all stages of their lives. She brings to XML-W over 25 years of experience in the estate planning, finance, and tax fields. Before joining the XML team, she worked for Merrill Lynch and U.S. Trust (both entities are now owned by Bank of America) as a Director, helping high-net-worth clients design and update their estate plans. She also had the responsibility of educating over 650 financial advisors on estate planning and trust services.
About Our Host:
Melissa Carter trains entrepreneurs, business owners, corporate execs, and home-based professionals to reach their fullest potential. Melissa has appeared on radio, television, podcasts, and in print throughout the nation, and has served as a speaker for many corporate and charitable events to discuss the benefits of using media as part of their business strategy.
As a member of morning radio shows for nearly 20 years, Melissa could be heard on 99X, Q100, and B98.5 in Atlanta. She also served as a Co-Host on Westwood One’s “Radio with a Twist.” For these media efforts, Melissa was awarded the Atlanta Dream/SunTrust Inspiring Woman Award, the HRC Community Leadership Award, and the CHRIS Kids Kyle Anderson Service to Youth Award.
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