During our recent national event in New Orleans, I gave a presentation about the rapid changes in technology that have devastated a number of industries and professions. I commented that every group thinks their business is exempt. Even as the last one goes out of business there is this surprise and wonder that it could really happen to them. Attorneys are no different. Many believe that our venerable profession is too important or complex to be pushed aside by digital tools, but forces are at work right now to break up the guild mentality and bar association walls. Witness the amazing commercial success of Legal Zoom and the hundred other online resources that are waiting in the wings.

This is neither good nor bad. It’s really just the next iteration of the transformative impact of the microchip revolution. The argument can be made that we should feel no more sympathy for lawyers who didn’t prepare for these changes than people did a century ago for the poor buggy whip industry. It’s been said that in times of great uncertainty, there is great opportunity. For our profession, this is one of those moments. We need to reassess our value proposition to our clients and rearrange our business models to stress those relationship qualities that can’t be replaced by an outsourced worker or bits and bytes.

The entrenchment of this state of denial was brought home to me as I listened to an interview of Seth Godin, the internet guru, author and forward thinker. He was talking about the certain demise of the traditional publishing industry and his recent conversations with executives in that field who presented every excuse as to why they are going to survive. Even more astonishing, he mentioned talks with senior people in the already decimated music industry who are still hanging on to the hope that CDs are going make a comeback.

His point is a simple one. Our capacity for self-delusion in the face of overwhelming evidence is remarkable. As lawyers we can learn from these examples and see the opportunity to immediately make changes so our practices will not only survive, but flourish in this new age.

Robert Armstrong
President & Co-Founder
American Academy of Estate Planning Attorneys, Inc.
6050 Santo Rd Ste 240
San Diego, CA 92124
858-453-2128
www.aaepa.com

We all know how hesitant people can be to confront the idea of estate planning in the first place. Maybe it’s the idea of confronting their own mortality… maybe they’re superstitious about tempting fate… maybe it’s just not fun. Whatever the reason, it can be hard to get clients into the office in the first place.

And once they’re in, and the first set of documents is signed, they seem to have a false sense of security. People seem to be under the delusion that estate planning is a one-time proposition, and that once the plan is in place, they can breathe a sigh of relief and go on about the rest of their lives.

So, even when they’re invited back to do an estate plan review, they don’t always see the need. We ask if anything has changed, and they’re quick to tell us no.

Of course, we know that nothing could be farther from the truth. Circumstances are constantly changing, both within our clients’ personal lives and in our society as a whole, which have an impact – and can derail even the best laid plans.

The problem is that our clients aren’t aware of all the factors that go into an effective estate plan, so they don’t know what might necessitate a change to their plan. They often don’t have enough of a knowledge base to effectively answer the question, “what’s changed?”  And they’re not supposed to know… unless they’re estate planning attorneys themselves. That’s our job, not theirs.

So, how do we bridge the gap between our technical knowledge and good intentions, and our clients’ desire for an effective estate plan and lack of awareness that they may need to come see us?

I think it all goes back to the relationship we build with our clients. They need to know that we care about them and their families, and we’re watching out for them. If we’re taking an interest in the developments in their lives, and staying in contact with them on a regular, consistent basis, they’ll be more inclined to let us in on developments that we can help them with. And we’ll have an open line of communication to educate them about shifts in the law, or a new and better strategy that might work for them.

What’s your approach? How does your firm get clients to update their estate plans?

Sanford M. Fisch
CEO & Co-Founder
American Academy of Estate Planning Attorneys, Inc.
6050 Santo Rd., Ste. 240
San Diego, CA 92124
858-453-2128
www.aaepa.com

So many of us make the mistake of thinking we’re in the “Estate Planning Legal Business.” While we practice estate law, defining ourselves in this way is a mistake, because our actions flow from the way we define ourselves.

When you’re in the “Estate Planning Legal Business,” you tend to judge your practice and your worth solely by how legally competent you are. Therefore, you spend the bulk of your time staying up on the law, attending CLE classes and reading the latest IRS opinions. You educate your clients in fine detail on all the best ways to set up an estate and keep all your client communications focused on technical estate and tax matters.

While it is necessary and good to maintain technical proficiency, spending all – or even most – of your working hours focused on this means that you are not recognizing the true nature of your legal practice. The truth is we’re not in the “Estate Planning Legal Business.” We’re actually in the Communication, Information, and Relationship Business.

Did you know that one of the biggest misconceptions held by lawyers is that our clients know whether our technical legal skills are excellent or merely average? While it’s important to maintain and improve our skills, non-lawyers assume we’re all about the same skills-wise. What clients are looking for is a relationship with someone they know and trust.

How much of your practice is focused on creating lasting relationships with your clients? On communicating regularly with them? What will bring in new clients and keep existing clients loyal is not your technical expertise, but things like being greeted by name when they step into your office, or knowing that you care enough to ask about their family, or a thousand other personal touches that only you and your staff could add to their experience with your firm.

Robert Armstrong
President & Co-Founder
American Academy of Estate Planning Attorneys, Inc.
6050 Santo Rd., Ste. 240
San Diego, CA 92124
858-453-2128
www.aaepa.com