Below is a list of steps that will help to make sure your estate planning matters are as profitable as possible, whilst also delivering high value outcomes to your clients.
It’s a Win Win!
1. Use up to date precedents that are integrated with your practice management system
2. Use automation in your precedents to reflect your estate planning strategy, streamline your drafting and minimise human errors
3. Use a centralised clause library for unique and complex drafting instead of searching old matters and copying clauses over from other clients
4. Invest in understanding the benefits of testamentary trusts and being able to explain them simply and powerfully, so your clients can understand the value
5. Invest in your mindset and price lists so that you can trust the value you deliver and charge appropriately
6. Plan for family trust succession in a separate deed of succession, instead of the will
7. Recommend entity powers of attorney for all trading entities
8. Use sophisticated meeting agenda and file note templates so you’re not spending time reinventing the wheel for each meeting
9. Use personalised family tree, asset holding and estate distribution diagrams to help simplify concepts for clients and keep you up to date on the important facts of each matter
10. Send a weekly newsletter to motivate prospective clients, encourage existing and past clients to recommend you, and to remind past clients to review and update their estate plan
11. Use a secure binding method (e.g. an A3 booklet with staples down the spine produced directly by your printer) and have clients sign their wills only on the last page
12. Ensure your cost agreement covers off on specific issues to protect you and make it clear what happens when the client gives you wrong information, doesn’t promptly sign their documents, changes their mind, doesn’t return the signed documents etc.
13. Use client friendly flyers to explain estate planning concepts e.g. testamentary trusts, signing processes and annual review checklists
14. Offer a comprehensive letter of wishes workbook as a client gift or upsell
15. Join an estate planning mastermind (like The TT Precedents Club) to support you with estate planning questions, strategy feedback and drafting!