The portal's estate planning feature makes it easy for financial professionals to offer their clients a Will and pull together an Executor Kit.
The feature has 3 core elements:
- The Will Wizard which comprises a series of basic questions designed to gather information about a client’s desired beneficiaries, legal guardians, and executor.
- A pre-populated Will, built on a template provided by established estate planning law firm View Legal, with the responses given by the client through the Will Wizard.
- The Executor Kit Wizard, which collects and organises the client’s financial data held within the portal. The resulting document can be found in the client’s wealth portal and contains the client’s instructions and wishes for the executor to carry out.
Please note: while the Will Wizard and automated Will feature are available on all client subscriptions, the Executor Kit is only available to clients on Pro.
How does it work?
The feature is designed to be simple to use both for you and for your clients.
- Step 1: Enable the Will wizard and nominate your partner law firm. You can choose between the default law firm - View Legal - or nominate your own. If you want to provide your clients with a pre-populated will, you must select View Legal.
- Step 2: Encourage your clients to complete the Will Wizard. They can access the Wizard in the protection section of their wealth portal.
- Step 3: Generate a will.
- If you’ve opted for View Legal: the Wizard will either generate a pre-populated will for your client to review and sign, or, should the client’s personal situation require a more in-depth assessment, the Wizard will trigger an email to both you and View Legal with the client’s responses.
It’ll be up to you to either finalise an agreement with View Legal so they can provide a will to your client, or send the information on to the law firm of your choice.
- If you’ve nominated an alternative law firm: the Wizard will trigger an email to the email address you’ve entered for that law firm, asking them to contact the client directly to arrange a will.
- Step 4: Help your client get an Executor Kit. The Executor Kit is not a legally binding document but, by collecting and organising the client’s financial data and estate planning wishes, it helps make things as easy as possible for the executor to administer their estate.
If your client is on a Pro subscription, both the Will and the Executor Kit can be found in the protection section of their wealth portal. If the client is on Starter, the will will be under the Wills in the protection section of their portal. Should the client have entered a spouse, the Wizard will automatically generate a complementary will for their spouse, mirroring the information in the client’s will.
Note: Wills are not legally binding unless they have been printed, signed and witnessed.
Expert Tip: The Executor Kit is a great opportunity for you to ensure your client’s wealth portal details are up to date; indeed, the Executor Kit Wizard prompts them to review and, if needed, update all of the information they’ve provided thus far.