The “vision thing.” The purported lack of it helped keep President George H.W. Bush from proceeding to a second term. It’s a given that successful people have a vision – or so it seems. But if you don’t have a clear vision for your estate planning practice, and it’s gnawing at you, don’t despair.

Having confidence in your documents is essential for a successful estate planning practice. If you make errors consistently, struggle to explain “how we do things here” to new associates or spend lots of time and energy redoing paperwork at the eleventh hour, it’s time to change. Whether you acknowledge it or not, problems processing paperwork are likely spilling over into other parts of your business and negatively affecting your practice. 

Do any of these six examples resonate and sound familiar? 

High net-worth clients set up Grantor Retained Trusts (GRT) to ensure gifts go to specific beneficiaries and to avoid annoying taxes. GRTs are irrevocable, though, so your clients need to understand the consequences of placing assets in them.