Finally, after two virtual events and a postponement this past May, members of the Advisors Network gathered at The Toronto Hunt in person to network and enjoy a meal together.
Our panelists shared very personal accounts of how they talk about philanthropy with family and clients. Presenters all agreed that legacy planning requires a life-long view to creating a plan and revisiting it at regular intervals. We heard important reminders about:
- Being prepared before you meet with clients, and how a comprehensive questionnaire can be a helpful tool
- Knowing about the various ways to give and the tax implications for each
- Putting clients at ease and sharing art, personal photos etc. to prompt more intimate conversations
- Sharing your own story and leading by example
- Encouraging clients to talk with their family so that there are no surprises
- Focusing conversations on a client’s impact on causes they are passionate about rather than the amount of their gift
- Inviting conversation with questions such as: do you do any giving now? What causes are important to you?
- Opening discussions about legacy planning when it comes time to renew life insurance policies
We thank Nadia Bechai of Bechai Law, Bob Gore of Robert Gore & Associates, and Scott Rands from the Rands Advisory Team for sharing their insights as part of the panel.
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