It's the advisors' job to identify, manage and protect families from risk; proactively plan for transitions; and help families deal with changes. They must help family members gain clarity and deal with the emotional distress that comes from the complexities and dilemmas of wealth. Advisors that work together as a team have more opportunities and are better positioned to understand their clients' values and help them achieve their goals. It is important that advisors work together to align their wealth-transfer strategies with the interests of the clients. Advisors who do so are more likely to build enduring relationships that span generations.
Christine Fletcher, a Boston estate planning attorney at Burns & Levinson LLP, and Darlene Dahl, a Boston area wealth management advisor, are members of the Boston Estate Planning Council, a professional association made up of more than 800 members who practice across multiple estate planning disciplines.