Wednesday, May 30, 2012

Flat Fee and Estate Planning

Image credit: - free image

When people hear I'm a lawyer they often make some comment about my hourly rate.  Sure, I have an hourly billable rate for my work related to probates, but not for drafting estate planning documents.  Why not?  Because I don't want clients looking at the clock, thinking "lord, she sure can talk a lot...this is costing a fortune!"  Instead I need them to be relaxed and talkative.  Over the course of a conversation little nuggets about their family, finances, and health will come out.  And some of those nuggets have an impact on what the documents I draft will say.  For example:

  • my daughter.....well she really isn't my daughter, she is my niece who I took in when she was 3 years old;
  • oh.....and there is the cabin in Minnesota that we own a half share of with my sister;
  • the date of my divorce, well technically we never finished the divorce, we just went our separate ways.
All true statements, and all drastically alter the approach to estate planning.

No comments: