Attorneys often feel they undercharge for estate planning services due to clients’ lack of understanding.
To overcome this, it is crucial to explain the detailed process involved.
Drawing from a personal experience with a painter who justified a high quote by outlining the steps…
attorneys can adopt a similar approach.
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Recently, I embarked on a home improvement project: getting my two-level back porch painted. Living in sunny Florida with Gulf access, the sun had its way with the paint over the years.
When I received a quote from a well-recommended painter, I was taken aback by the high figure.
But a simple explanation from him changed my perspective entirely.
He walked me through every meticulous step – from spray washing, tarping areas, sanding wood planks, to the finishing touches. His transparency made me understand and appreciate the value of his service.
How This Relates to Us
This experience reminded me of a challenge many attorneys, including myself, face. Do our clients fully grasp the effort behind our estate planning services? Often, we worry about local competition, sensitive clients, or simply undervaluing our expertise. It’s vital to communicate the intricacies of our process, just as the painter did for me.
For instance, when discussing fees with clients, it’s not about pulling a number out of thin air. We utilize structured guidelines and delve deep into reviewing documents, discussing goals, understanding trusteeships, healthcare proxies, and ensuring proper asset allocation. Once your clients understand the process and the value that you’re providing for them, your fees start to make more and more sense to them.
Visualization helps! Having the process graphically represented or documented can be a game-changer. It assures clients that creating an exceptional estate plan is not about pressing a button, but is a detailed, thought-out procedure.
Transparency in our process not only builds trust but also bridges the gap in understanding the real value of our services. I hope my little porch story offers you some clarity and perspective. Always eager to hear your thoughts, feedback, or personal stories that resonate with this.
To your bigger future,
Craig R. Hersch
Florida Bar Board Certified Wills, Trusts & Estates Attorney
Senior Partner, The Sheppard Law Firm
Founder, The Freedom Practice ®
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