Aretha Franklin, one of the greatest signers of all time, passed away last week … without a will or trust. According to reports, her estate planning attorney routinely asked her about it, but she “never got around to it”. As I recall, Prince left his heirs a similarly-complex situation, now pushing its way through the courts. They’re not alone. According to AARP, more than 60% of Americans lack a legally-effective estate plan.
Law friends: This is a marketing problem. The message strategy you’re using to convince people to put basic legal protections in place is not working. I’m not saying the path forward will be easy, but consider this: 401k participation rates increase when we employ an opt-out versus an opt-in strategy. Could lawyers lobby for a partnership strategy with the social security administration (as an example) to create an opt-out system as part of the process to register for benefits? Just spitballing here.
Ideas? Bueller? Anyone?
#marketing #legal #estateplanning