A single client, age 60, is referred to you and you have determined that he has a net worth of $16,000,000 consisting of a house in his name worth $5,000,000, an investment account in his name alone worth $9,750,000 and a bank account in joint tenancy with his only child, 18-years-old, worth $1,250,000. In addition to this, he also has a life insurance policy with a face amount of $1,000,000, the beneficiary being his child.

He has asked you about gifts, death tax, probate costs and how to handle his life insurance. He is also considering a gift to his church.

What would you tell him to motivate him to act on your advice? What would your advice be? What more information might you want?