#7 - What is an After Loss Professional
Reluctant Executor News
A lot of my time is spent explaining what exactly Reluctant Executor does. For those of you that have struggled through the administrative tasks after a loss, there is no need to explain. For those of you that haven't experienced that yet, it takes a bit more to understand.
Given that this industry is relatively small but growing, it's interesting to think about Steve Blank's definition of a startup vs. a company. He defines a startup as “a temporary organization designed to look for a business model that is repeatable and scalable.” While a company is “a permanent organization designed to execute a business model that is repeatable and scalable.”
No matter what stage your business is in, there are aspects of a startup. Continually experimenting to see what works, whether it be in marketing, product, sales, or something else, will keep a business from becoming stale.
Thanks to the trailblazers in this industry, there is a framework for a repeatable business model. But each After Loss Pro still needs to find what works for them and their clients, heavily weighting this business to a startup.
The two posts below highlight some of these early professionals who helped define the model and what it entails.
LinkedIn post from November 13, 2023
The traditional career path: Get a degree, learn on the job, then advance to more responsibilities. A degree is the foundation, it proves to others that you have a minimum level of competency.
What happens if you enter an industry that does not offer a degree?
You enter a chicken-or-egg cycle. You need to prove yourself in order to get the job, but you need the job to prove yourself.
That is the scenario for After Loss Professionals. This is an industry of people that "helps clients who have experienced a loss manage administrative tasks with one-on-one customized support and logistical services." Managing these tasks is something that nearly everybody will have to do in their life, yet most people unfortunately learn these skills only after losing a family member.
Many become overwhelmed with completing these tasks. They are grieving, need to return to work, or have other family to care for. Making a mistake or forgetting to complete one of many forms can be costly. They can turn to an after loss pro for help, but how can the family know who to hire if there are no qualifications?
Fortunately this is where Jasmine Hathaway, Mollie Lacher, and Rachel Donnelly stepped up and created the Professionals of After Loss Services (PALS) Training Program. Graduates of this program come away with not just knowledge of how to complete the tasks, but with insight into the soft skills needed to work with grieving and busy families. Jasmine, Mollie, and Rachel weaved much of their combined 15+ years of experience into the course, leaving graduates well equipped to take on their own clients.
A huge thank you to the PALS co-founders for creating this foundation for the industry!
Click here to comment or like this post on LinkedIn.
LinkedIn post from October 26, 2023
If you have never experienced a loss, it's hard to fully grasp what family and executors go through. Which makes it difficult to understand why you'd ever hire an After Loss Pro.
Here are some things that you can get help with.
●Create an inventory of assets
A list of all assets may be required by probate courts, beneficiaries, or creditors. Get help finding unknown financial accounts, real estate, vehicles, and other assets.
●Close or transfer accounts
Get help identifying the steps needed to deal with financial accounts, subscriptions, utilities, and online accounts in your loved one's name.
●Update accounts
Assist with updating beneficiaries, insurance, mortgage, social security, and more.
●Gain digital access
Get help accessing digital accounts and devices that contain important documents and family photos.
●Receive financial guidance
Understand the process needed to access retirement, investment, savings, and checking accounts. Receive budgeting and cash flow assessments.
●Claim benefits owed
Understand how to maintain health insurance, and get life insurance and employer benefits.
●Referrals
Get referrals to needed professionals, such as Estate Lawyers, Realtors, Financial Advisors, CPAs, Estate Sale Pros, Appraisers, and more.
Click here to comment or like this post on LinkedIn.
After Loss Support
Reluctant Executor's primary service is to support families after a loss. As you've seen above, this could involve many different things. Reluctant Executor is flexible and can help reduce your stress in many different areas.
If you or someone you know needs this type of support, contact me at Bill@ReluctantExecutor.com.