FA-IQ reached out to advisors to ask: What are your clients’ top concerns when it comes to estate planning, and what are the challenges or hurdles they need to overcome to make sure everything is in order?

Sheldon Busch, managing director and partner at Americana Partners. Houston-based Busch has been in the industry for more than 13 years and has $260 million in client assets.

“Our clients’ top concern as it pertains to their estate is efficiency. Why do we still have this life policy? Is this death benefit enough or are we over-insured? If my funds grow at this percentage rate, will it be enough to live off?

Wealth is relative to each client, but regardless of size, they are wanting to ensure all their accounts play a specific role towards living off what they have amassed.

Sheldon Busch
Lately we have found that most clients have life insurance and, in most cases, bought it several years ago with no planning around the amount or design of the policy. Taking existing cash value policies and shopping them to multiple carriers has provided a costless way to create efficiency using what they already have.

In addition, we’re utilizing a newer feature by adding a long-term care rider, which allows clients to access the policy while they’re alive and in need of care. By using policies they already have, we are seeing clients pay less in premiums, increasing their death benefit and adding a rider to help pay long-term-care needs in the future, creating a much more efficient outlay.

Making sure the dollar goes as far as it can given all the variables clients are juggling is the primary challenge and doing a simple insurance review stretches those dollars already at work."

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