Starting Estate Planning After Redundancy

Being made redundant is stressful, but it can also be a catalyst for positive change. If you're considering estate planning, start with our complete guide on How to Become an Estate Planner UK:

The silver lining:

• •Redundancy pay provides financial buffer
• •Time to retrain without juggling a job
• •Motivation to try something new
• •Opportunity for a fresh start

Why estate planning suits many redundancy survivors:

• •Lower barrier than many professional careers
• •Training takes weeks, not years
• •Can start earning relatively quickly
• •Flexibility suits life transitions
• •Work can be part-time initially

Common post-redundancy patterns:

• •Apply for similar jobs (compete with many others)
• •Take anything available (often unsatisfying)
• •Try something completely new (requires courage)
• •Start a business (needs the right opportunity)

Estate planning offers:

• •A viable business opportunity
• •Meaningful work helping families
• •Flexibility you control
• •Income potential comparable to employment
• •Something positive from a negative situation

Redundancy pay can fund your transition, but budget carefully:

Calculate your runway:

• •How much redundancy pay?
• •Other savings available?
• •Reduced expenses possible?
• •Partner income if applicable?
• •How many months can you manage without income?

Typical transition costs:

• •Training investment: varies by provider
• •Professional indemnity insurance: £300-600/year
• •Software and equipment: £200-500
• •Marketing and business setup: £200-500
• •Living expenses during building phase

Budget example (6-month runway):

• •Living expenses: £1,500/month × 6 = £9,000
• •Training and setup: £2,000-4,000
• •Total needed: £11,000-13,000

If redundancy pay is limited:

• •Consider part-time training
• •Keep looking for temporary work
• •Build estate planning alongside employment
• •Slower start is still a start

Key principle: Don't spend redundancy pay on living expenses while doing nothing. Invest in creating new income streams.

Here's a realistic timeline for transitioning from redundancy to practising estate planner:

Weeks 1-2: Processing and planning

• •Come to terms with redundancy
• •Research estate planning as option
• •Speak to training providers
• •Make informed decision

Weeks 3-8: Training

• •Complete comprehensive training
• •Study and practice
• •Set up business basics
• •Prepare marketing

Weeks 8-12: Launch phase

• •Get insurance in place
• •Announce your new business
• •Start marketing actively
• •Network and connect

Months 3-6: Building phase

• •First clients start coming
• •Learn from each interaction
• •Refine your approach
• •Build reputation

Months 6-12: Growth phase

• •Referrals start building
• •More consistent client flow
• •Confidence increases
• •Income grows

Realistic income expectations:

• •Months 1-3: £0-1,000/month
• •Months 4-6: £500-2,000/month
• •Months 7-12: £1,000-3,500/month

By month 12: Many committed practitioners are earning £2,000-4,000/month, with trajectory continuing upward.

Your previous career has given you valuable transferable skills:

From corporate/office roles:

• •Professional conduct
• •Client communication
• •Document management
• •Meeting management
• •Business processes

From customer-facing roles:

• •Building rapport
• •Understanding needs
• •Clear communication
• •Handling difficult situations
• •Service mindset

From management roles:

• •Decision making
• •Problem solving
• •Process improvement
• •People skills
• •Business awareness

From specialist roles:

• •Deep knowledge in specific areas
• •Analytical thinking
• •Technical competence
• •Attention to detail
• •Expertise development

Common concerns addressed:

"I've only worked in one industry"

• •The core skills transfer
• •Fresh perspective can be advantage
• •Clients care about service, not your background

"I'm not a 'sales' person"

• •Estate planning isn't hard selling
• •It's understanding needs and providing solutions
• •Relationships matter more than sales technique

"I'm worried about starting again"

• •Everyone started somewhere
• •Your experience has value
• •Many successful planners started after 40, 50, or 60