How To Tell If You’re A Trust Mill

Sometimes the hardest part of doing something, is getting started and knowing where to begin.  Imagine if you had a template to guide you through your day.  Wouldn't it be easier.  The same is true when drafting estate planning.  The challenge becomes how to utilize templates, and not become a "mill". I often ask attorneys if you look at the last ten estate plans you've done, what has changed other than the names and the beneficiaries?  If you fall into this trap, you may be a "mill" already. 

Bigstock-Wind-Turbines-48245696So how do you ensure you address all the issues with planning and have the freedom to create custom documents without doubling the time it takes to draft the document? Having a document creation system that meets the needs of creative lawyers, ensures all legal technical requirements of today's planning is addressed requires much more than a "fill-in-the-blank" software program.  It actually requires your software to have artificial intelligence.  When the LWP document creation system was created, it was created with a client-centered approach. 

What does that mean?  All document creation systems are lawyer centered, that is they ask questions of the lawyer as to what legal provisions they want in the documents.  The LWP software was designed in the inverse inquiring of the needs and goals of the client, (estate planning, asset protection, benefits planning, or tax planning), and after identifying the clients personal and financial distinctions, all is entered and the software uses its preset intelligence to integrate all of the proper legal terms into all the various estate planning document to ensure the clients wishes actually occur.  Since the software is client centered, a single interview generates all the estate planning documents ( will, HCP, PIA, personal care plan, revocable and irrevocable trusts) that assuring all of them are integrated in all the key needs of the client. 

The beauty of this type system is that when speaking with clients you're not asking whether they want a power of appointment, but you're asking them questions about whether they would like their spouse or someone else to be able to change the planning upon their incapacity or death and if so, then you even have the ability to determine when and how (during life, after incompetency, after death, after remarriage, ect.)

The significance of this software is that it knows the questions relevant to each of the four categories of planning a client chooses and has created the decision trees internally to make the drafter of issues they may not have considered or if they choose confliction provisions. The greatest advantage, however is, different choices the client is able to make to be confident in their plan.  Perhaps the greatest advantage of the client-centered software is for the attorney is that it has over 4,900 combinations of occurrences and allows the attorney to customize any individual part of the plan. 

Assume two people are buying a car.  While they may both buy the same model, each typically chooses different options on the car.  This is how typical estate-planning software works.  What makes the LWP software different is it is like going to a web site and choosing a car or an SUV or a pickup truck and then identifying what particular things are important to you on that car and then go through and design every part of it as you deem appropriate.  For example you can opt the A package which has power windows and door locks or you can opt to customize the color of the knobs on the radio if you so desire. 

Sound complicated?  Well, it is, if you're the programmer developing the artificial intelligence (already done!), but it's quite simple if you're the attorney using it.  All you need is a template.  As you go through the template it helps identify all the triggering events in the decision tree and allows you to use preselected choices most commonly used by attorneys (typically three to five) or allows you to customize any particular provision to your specific desire.  Now that's client centered! 

I get two typical responses from lawyers that use the client-centered software.  One is "This software doesn't do X."  That typically comes from the attorneys who are unwilling to take the time to become familiar with client centered approach.  The other answer we typically receive is holy moly, I cannot believe how much I can do with this software and it’s amazing how it all integrates. It’s amazing!  Once you go client centered, you’ll never go back to lawyer centered.  If you're a non-member and want to know more about our estate planning drafting software, click here for a live demo of our client centered software.  

David J. Zumpano, Esq, CPA, Co-founder Lawyers With Purpose, Founder and Senior Partner of Estate Planning Law Center

Add a Comment

Your email address will not be published. Required fields are marked *