“Behavioral qualities make people naturally act in a certain way,” Wizehire explains, referring to the DISC profile that characterizes people as:
- Decisive – D types are patient and determined in achieving objectives.
- Interactive – I types collaborate, working well with others.
- Stable – S types are predictable in their approach.
- Cautious – C-types are detail-oriented and methodical.
“Beyond retirement, estate planning is one of the most important (and complicated) financial decisions a person can make, made even more difficult by the emotions driven by contemplating one’s own mortality,” Smartasset.com states. At Geyer Law, an Indiana estate planning and elder law firm, we’re acutely aware of the complex details involved in planning estates, taking into consideration the varying motivations and priorities of all the individuals who stand to be affected in the future by decisions our clients make today.
Certified Wealth Strategist® Cynthia Marotz of Allen & Company‘s descriptions of the contrasting personality types among her own clients remind us of the differences in personality among our own Indiana estate planning client base:
- D-types make decisions quickly.
- I – types are motivated by the needs and wants of the people who are important to them.
- S-types do not like to “rock the boat” or anger anyone else.
- C-types are very cautious and want to make the most traditional choices.
In the process of developing an estate plan, the job of the advisor is to gather and carefully evaluate the facts, discuss goals, and develop a customized plan to secure the clients’ hard-earned assets and protect their loved ones’ well-being. While the legal aspects of the process include knowledge of family law, tax law, inheritance law, and charitable planning are all involved, the personality of the attorney is not in play; the lawyer is there to look at the situation from a neutral standpoint, helping clients make objective decisions when family dynamics and emotions are involved.
A little-known “cheat code” – regardless of DISC profile – is called a letter of wishes, which is a statement of the intention behind the decisions you make in your estate planning, Steve Lockshin explains in Kiplinger. This letter, while not a legal document, explains why you made certain decisions.
Even better, at Geyer Law we try to facilitate family conferences to acquaint the younger generation with the members of their parents’ advisory team. These conferences allow parents to openly share with loved ones the values and assumptions – along with the issues – that have gone into their estate planning choices.
by Ronnie of the Rebecca W. Geyer & Associates blog team
