Career Opportunities in Estate Planning: What You Need to Know

Curious about the world of estate planning and its career prospects? Estate planning, often overlooked yet integral to legal practice, presents a wealth of opportunities for those interested in law and finance. In this article, we’ll delve into the role of estate planners, the traits that make a successful estate planner, and why pursuing a career in estate planning can be fulfilling.

What is an Estate Planner?

Ever wondered what an estate planner does? Estate planners play a crucial role in helping individuals and families manage their assets and plan for the future. From creating last wills and testaments to setting up trust accounts and naming executors, their duties ensure that clients’ wishes are carried out efficiently. By minimizing taxes and legal fees, crafting instructions for passing values, and establishing preferences for funeral arrangements, estate planners offer peace of mind during life’s uncertainties.

Choosing a career as an estate planner offers a unique opportunity to make a tangible difference in people’s lives. By helping clients secure their financial futures and provide for their loved ones, estate planners play a vital role in ensuring peace of mind and security for generations to come.

What Makes a Good Estate Planner?

Understanding the role of estate planners is crucial—they guide individuals and families through financial decisions. Estate planners need to think ahead, be approachable, empathetic, enjoy helping others, and feel comfortable dealing with money and law.

Long-Term Thinking:

Successful estate planners anticipate future scenarios, safeguarding clients’ assets by planning ahead.

Approachable and Empathetic:

Building strong relationships with clients is essential. Estate planners communicate legal concepts clearly and empathetically, establishing trust and rapport.

Enjoy Helping Others:

They find fulfillment in assisting with financial and legal needs, ensuring clients’ well-being throughout life’s transitions.

Comfortable with Financial and Legal Matters:

Estate planners navigate complexities confidently, with a solid grasp of financial and legal principles.

How Much Does an Estate Planner Earn?

In Malaysia, estate planners earn an average hourly rate of MYR 50, translating to an annual gross salary of approximately MYR 103,620. Entry-level estate planners with 1-3 years of experience can expect to earn around MYR 62,023, while senior-level estate planners with 8+ years of experience may command an average salary of MYR 140,309. These figures, based on data from Economic Research Institution (ERI), highlight the earning potential in the field. Moreover, with the financial advising profession, including estate planning, projected to grow by 15% between 2016 and 2026 according to the Bureau of Labor Statistics (BLS), the future market for estate planners in Malaysia appears promising, offering opportunities for continued growth and advancement.

Is Estate Planning Right For You?

Considering a career in estate planning? Whether you’re a recent graduate exploring career options or a seasoned professional seeking a change, understanding the role of estate planners and the skills required can help you make an informed decision. If you possess the essential qualities of a successful estate planner and are drawn to making a meaningful impact on people’s lives, estate planning could be the ideal career path for you.

How to Become an Estate Planner?

Explore our Professional Diploma in Will Writing & Estate Planning to gain a deeper understanding of estate planning and kickstart your journey into this dynamic field. Learn from industry experts, acquire practical skills, and embark on a fulfilling career helping individuals and families plan for their future.