Meaning of Money - a Priceless Conversation

This afternoon I am meeting with clients to work on designing their estate plan. Last week I did Priceless Conversations with them. These are interviews I do with clients that are recorded with a digital recorder and preserved. The topic of the interview was the "Meaning of Money", where I ask about their family's financial history (their parents growing up, their growing up), their philosophies about money, good and bad money decisions, first job, best financial advice they ever received, fears and concerns about money, advice to those receiving the money later in an inheritance, goals about how the money will impact others, etc.

It's amazing how these interviews help me do a better job on the legal aspect of their estate plan. I have such a deep understanding of what is important to people and can help them seek the best legal strategies that fit them and their family.

These interviews have 3 important goals. First, to help me understand the clients so I can do a better job legally. Second, to help the client understand more of themselves and their goals, simply by having them articulate those goals out loud. Third, the audio recording is an instant heirloom that kids and grandkids will cherish later because it has their loved one talking about some of the most important things in life.

And by getting to know and understand my clients in such a deep way, it lays a great foundation for me to work with them for the rest of their life, to keep their plan up to date. This maintenance of the plan is part of our Dynasty membership program, where clients pay an ongoing retainer and we work with them in an annual planning cycle to make sure their plan is legal, organized, up to date, and coordinated with their assets.


-David Otis Edwards, Edwards Group LLC, Springfield, Illinois