Mortgage Strategy: Advising on asset protection is easy

In my last column I explained that you don't have to be a lawyer to make money out of wills and trusts.

Any broker can start doing this quickly if they take the time to swot up on the fundamentals of asset protection and estate planning.

And the fundamentals are all that's needed - for brokers this is purely a concept sell. The creation of wills and trusts can be passed on to a third party legal services firm which will also provide indemnity cover.

Introducing asset protection to your clients couldn't be easier. As part of the standard fact-finding process you always ask your clients if they have wills in place.

You simply need to ask them what they believe will happen to their assets after their death, explain what will happen in light of their existing arrangements and highlight what needs to be done to ensure their assets are dealt with as they wish.

So the wills question can be the start of a new advisory journey for brokers and clients.

Also, when a mortgage review comes up most brokers correctly advise their clients to stay on their SVR. This is good advice but no income is generated.

But by simply asking them about their will arrangements there is a new, worthwhile and income-generating discussion to be had.

What's more, it keeps advisers in pole position to deal with the remortgage when the market allows.

To see the original article, go to http://www.theassetprotectionstrategy.com/pr/100322MortgageStrategy.pdf