I decided to be certified as an Estate Planner (Wills & Trusts) in January 2024.
I made the decision to get certified after a health scare in late 2022. I was relieved that I finally wrote my will during Covid lock-down. And this was after procrastinating for 3 years!
I was comforted that should I have walked out of life at that juncture, the only grief my family had to overcome was an emotional one. They wouldn’t be beset with a financial one too.
It was this unfortunate (or fortunate, depending on the angle you take) incident, that gave me the impetus to take this next step in my professional practice.
After working on close to 25 wills and estate plans in the past 14 months, I have had a few reflections and realisations. Most of them centre around life, human nature and their relationship with money.
I will share one that strikes a chord in me, and will save the rest for future postings when the opportunities arise.
In my view, when there is trust between you and your loved ones, the main (or sole, if you wish) purpose of a will, is to make things easy for them after you have departed from this life. Convenience and clarity of intent are the reasons why you should still write a will.
On the contrary, if there is minimal or no trust, your will serves the role of ensuring stability and family order. It ensures that the distribution goes according to your wishes and leaves little to the imagination.
Many discussions with my clients gave me a window into their inner world, and how they view their relationships with their family. You would be surprised how little trust some of them have in their loved ones. This can be the case even though things look rosy and great from the outside. Of course, more often than not, there are many clients who share their distribution plans with love and warmth.
I also come to see the fine difference between loving someone, and trusting him or her. They don’t have to come hand in hand. Best if they do, but often they are not.
As an estate planner, i understand even more now, about the value and importance of trust among people. It is a foundational piece in human relationship.
As Confucius said: Without trust, we cannot stand.
孔子曰：人无信不立 ，业无信不兴，国无信则衰
It is this realisation that fuels my desire to continue upgrading myself as both a family wealth consultant, and an estate planner. I am now even more aware of the critical role i play in my investors’ life. I am the guardian and shepherd of their finances — up to their death. It is indeed, as my mentor always reminded me of, a life-long journey.
My investors and clients are the ones who took the first step to trust me at the start of their partnership with me. I should not take that for granted.
Trust is essential for healthy relationships — whether familial, social or business. It is a fundamental virtue.
