Cognitive decline can happen quickly and at the same time, have a significant impact on a client's ability to achieve their Estate Planning goals if the proper steps aren’t taken in advance while they are still of sound mind, capable of making financial decisions, and able to name beneficiaries. 

• Did you know that POA’s are unable to name beneficiaries on a Seg Fund Contract? A POA can only name “Estate” which eliminates the Key Estate Planning benefits of Seg funds: 

1. Naming Beneficiaries 
2. By-passing Probate (thus lowering Estate settlement costs) 
3. Quick and Private distribution of assets to Beneficiaries
4. Multiple settlement options to accommodate for Estate legacy goals and varying financial capabilities of Beneficiaries

• Did you know that if a Seg Fund contract is established with Beneficiaries named by the Contract Owner that a POA can direct assets into the contract in the event of mental incapacity of the Contract Owner as a means to carry out the Estate Planning goals on behalf of a Contract Owner? Eg. A POA can direct home sale proceeds from an elderly parent into an existing Seg Fund contract to help achieve the Estate Planning goals.

Having your older clients establish an Estate Wedge using Seg Funds and naming Beneficiaries while they are of sound mind can add significant value to the Estate Planning process including insuring that Estate Planning goals can still be met in the face of Cognitive Decline and Mental Incapacity. 

Please let us know if you would like  to arrange a 10 minute phone meeting to discuss the Estate Wedge strategy in more detail and how we have helped advisors:

• Generate more referrals
• Gather more assets,
• Increase revenue 
• Better meet the needs of clients.

Why BMO Seg Funds for your Estate Wedge?
1.    Industry-leading MERs
2.    Prestige Pricing at $250,000 (18-40bps MER savings)
3.    Multiple Guarantee Levels to meet all clients needs: 75/75, 75/100, 75/100 Plus, 100/100
4.    Highly attractive commission structures including: 3% and 5% Commission chargeback options
5.    Investment choices ranging from 100% Fixed Income to 100% Equity: ETF Portfolios, Individual ETF Solutions, Actively Managed Funds
6.    BMO accepts E-Signatures to help advisors continue to meet client needs when conducting virtual meetings

For more insight on Cognitive Decline please check out our Better Conversations / Better Outcomes Podcast #54  Click Here