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Why offer a Will service?
- Many IFAs, Mortgage Brokers, Equity Release planners and PMI Advisors do not offer clients estate planning through the use of Wills!
- Most advisors think it is very difficult and many believe they can't generate income from this crucial service - but this is simply NOT the case as many 100's of professional advisers have found out to their benefit!
PTFS and Beneficial Trust & Will Company (BTWC) Ltd have joined together to make it easy for you to offer this key service which enables you to earn substantial commissions and fees and making 'prospecting' a thing of the past and secure YOUR future and that of your clients!
NO more buying leads with this service!
What is a Will?
- A legal document which enables an individual's estate to be distributed according to their wishes when they die.
- It appoints people (executors/trustees) who will be responsible for dealing with their estate
- The executors ensure the Will is administered according to the wishes of the person who wrote the will (the testator) and the beneficiaries receive what they are entitled to in the Will.
- The use of certain Trusts within a client's Will can protect assets for their family and future beneficiaries.
What is a Discretionary Will Trust? (example)
- A Trust which receives tax benefits making it valuable in IHT planning, still a potential need for clients with estate values of more than two(2) Nil Rate Band Allowances (currently £624K)
- No beneficiaries have an absolute entitlement to income or capital
- The current rules provide the 'Right to Transfer' a Nil Rate Bond from spouse to spouse or civil partner BUT it is NOT an automatic transfer and MUST be applied for on 2nd death by the executers at that time!
- The Discretionary Trust eradicates the need for this and ensures that the 1st dies Nil Rate Bond is used by putting it into a trust on 1st death, no more concerns at the time of the 2nd death!
- Use BTWC Ltd Flexible Family Trust to achieve the above and more!!
What is Property Protective Trust? (example)
- The Property Protective Trust is designed to ring fence the value of the shares of the deceased partner in the property from being used to pay the care bills of the surviving partner if they require permanent residential care
- The Trust allows the surviving partner all the benefits of occupation or to move to a different property
- The Trust can also prevent the deceased partner's share in the property being inherited by a second husband, wife or partner
- Ensures children cannot be dis-inherited
- Whilst this is binding on the estate and the Trustees after death, it can be varied or cancelled at any time if circumstances change before death, therefore portable and flexible and not an issue with any lender!
- Any client of yours who owns or will own their property should consider this option - hugh market opportunity for you to help YOUR clients to preserve their biggest asset!
How to offer an estate planning service
Route 1: Become an Estate Planning Consultant
Fill in the online application form on the PTFS website. You then attend initial training and earn while you learn - click here
Each week, as a trained Estate Planning Consultant, you could:
- Complete 1 Estate Planning Will package (approx 1.5 - 2 hours work/week)
- 2 cases/week x 48 weeks means OTE earnings could = £43,522.00 plus/year!
- Alternatively a simple Mirror Will for a couple with Lasting Powers of Attorney (Minimum Recommendation)
- One case a week x 48 weeks OTE earnings could equal £12,293.76 For 1 hrs work per WEEK!
The areas covered to provide YOU with this great INCOME GENERATOR are:
- How to take your clients' Will instructions either on paper or online - YOU choose!
- The basics of Will Trusts and how to use them effectively for your clients family to benefit
- How to 'spot' other ‘sales opportunities’ for Financial Sales and Other services
- How to obtain Free Referrals
- How to 'ring fence' your clients home by using a Property Protective Trust
- How to keep clients in control of their finances
- How to use Discretionary Trusts effectively through a Will to protect assets for children or others
- Protect Death in Service Benefits from future IHT- we can provide Spousal bypass Trusts
- We Provide a full Probate and Estate Planning Service - more fees for you for just a referral!
- Deed of Gift - Deed of Variation - Declaration of Trust
- Spanish Wills & Probate Services
By YOU providing this invaluable service then you stay in control of the products and services provided to your clients and YOU maintain their confidence in YOU and you gain 'free' referrals!
Route 2: Use our introducer service
- Work alongside a BTWC Estate Planning Consultant
- Receive 15-20% of fees taken less VAT, based on number of referrals made
- Any FS business identified is guaranteed to be referred back to you
- From a simple Mirror Will and lasting Power of Attorney (minimum Recommendation) earn approximately £100 per case
- From complete Estate Planning earn approximately £200 plus per case
- In a client bank of 500, 65% will not have any planning, giving potential sales of £40k-£50K
- Guaranteed - Your Clients Stay Yours!
- Referrals identified by a BTWC consultant are guaranteed to be referred back to you providing additional commission
The estate planning market is huge!
- 2 out of 3 Britons lack a valid Will*
- Every regulatory organisation recommends that everybody should have a Will
- There are approx 4.8 million households currently In the IHT trap" (i.e. have assets in excess of £312,000 - the current nil-rate band for IHT purposes - which can attract IHT at 40%)**
- Anyone buying property could fall into the IHT trap within 8-10 years***
- Approximately 70,000 properties are sold each year to pay for care fees****
- Funeral prices increase by an average 11% per year - provide a Guaranteed Funeral Plan and save your clients this problem and provide them with peace of mind
By providing this service you can generate considerable new business and income for you. BUT if you don't, then clients will use another service provider such as a Solicitor which can create conflicting advice, confusion – and may lead to lost business!
Sources:
* NOP Poll 2003
** Halifax, 2006
*** Money Marketing 2006
**** NOP survey, 2004
About BTWC Ltd
Beneficial Trust & Will Company have been provider of non-regulated and certain regulated legal services exclusively to all professional advisors for over 10 years. BTWC Ltd have proudly been associated with PTFS Financial Services since 2001 and since that time many PTFS members have used our services and still do today. All our Will writers are fully accredited by one of the professions self regulatory organizations the Society of Will Writers
Contact BTWC LTD on; 01522 500823
Personal Contact; Trevor P Cross ASWW MIoD Mob; 07761 745654
email: www.enquiries@btwc.co.uk or website; www.btwc.co.uk
DO IT NOW - DON’T LEAVE ANY LONGER! Working together to give YOU more!
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