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Receiving a bill that is higher than the estimate or quote is frustrating. And it is particularly true for legal bills. For lawyers, costs and fees play a significant role in building trust and relationships with a client. Providing an accurate estimate, that is updated regularly, is one way to start building that trust. So spending the extra time developing your process is worth it, to have fewer complaints and write-offs and happier clients. Here are some simple actions to help that process.

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It was great to sit down with Simon at YorWealth Ltd to discuss the importance of having a Will in place. Here’s a snippet of our conversation! If you are in need of a will, please do get in touch on 01904971980!

Planning to meet with an estate planning attorney? Make the most of your consultation by being prepared. Bringing the right documents can help you streamline the process and ensure your wishes are clearly understood. From a list of beneficiaries to financial statements, David E. Anderson, PLLC explains what you need to bring for a productive meeting. Take control of your future today by preparing now! https://lnkd.in/dvqAN_2z

What is a Durable Power of Attorney? A durable power of attorney is a legal document in which a person (referred to as the principal) can designate another person or persons (referred to as the attorney(s)-in-fact) to make important financial decisions on the principal's behalf. The type of decisions that could be covered by a durable power of attorney include: ? Accessing bank accounts ? Paying bills ? Filing tax returns ? Selling real estate This list is not inclusive and can include a variety of other important financial decisions. In addition, a power of attorney can be effective immediately, meaning from the moment that you sign the document. In this manner, the durability of the document is that the document continues even after a person's incapacity. Also, a power of attorney can be springing, meaning that the powers of the attorney-in-fact only come into being upon the principal's disability. A power of attorney is an important and necessary legal document that should be a part of every person's comprehensive estate plan.

More than 10 years of experience has taught me that the things clients value are: 1. Peace of mind ?? 2. Knowing what they will end up paying you ?? 3. Knowing what you will do for them ? Statistically, the biggest concern prospective clients have when instructing lawyers is not knowing what it will cost them. Client's aren't impressed by our billable hours. They aren't impressed by how late we will work and how many hours on the weekend we'll put into delivering results. They are especially not impressed with info-dumps of complicated jargon. It's no wonder how many businesses then end up putting off getting a lawyer involved until it's really late in the day (and often after they have already suffered substantial loss). Clients want their lawyer to KEEP IT SIMPLE. Explain it in an easy to understand way, give them easy to digest action points, and above all else, given them transparency on what it will cost them and how it will impact their cashflow. Blackmont Legal has made it our mission to deliver that value for our clients; to be there when you need us, to deliver results fast, and to give you that transparency which you deserve from day one. Not convinced? Why not get in touch and see how different we are from the rest. ??0333 305 9957 ?? www.blackmontlegal.com

This is a helpful checklist for anyone who plans on updating or drafting a new legal Will. Please let us know if you have any questions! https://lnkd.in/gJ-WtTUV #estateplanning #investing #valueofadvice #toronto

Is your law firm struggling to fairly reward lawyers and partners managing client assignments? Recognizing client and file managers boosts client service, reduces turnover, and drives growth. Lawyers handling files independently deserve recognition. Those managing cases they didn't originate should treat these clients as their own. We suggest client/file managers receive up to 20% of the profit or formula credit as compensation. Typically, the lawyer who brings in a client also manages their files, claiming this credit. However, sometimes the originating attorney relies on another to manage files. Firms often distinguish between non-owner lawyers and equity owners when distributing credit. Sharing client/file credit often begins when an associate becomes a non-equity partner. Equity owners managing relationships for others usually receive some recognition. In formula-based compensation models, only working attorney production and origination often influence compensation. Client/file credit is usually under origination credit. While compensating client/file management through origination share might be a misnomer, it is better than ignoring their contributions. If you need help creating an effective compensation strategy for your firm, reach out to PerformLaw at https://bit.ly/4eq8ObS

The Top 3 Mistakes to Avoid When Starting Your LLC 1. Skipping Research: Make sure you understand what it takes to start an LLC in your state. Not doing proper research can lead to legal problems later on. 2. Separating Finances: Keep your personal and business money separate. Mixing them up can cause confusion and put your personal assets at risk. 3. Creating Operating Agreements: Don't forget to make an agreement for how your LLC will operate. This document clarifies things like who owns what and how decisions are made. It helps prevent arguments later on.

I was asked recently why I recommend law firms send client bills out weekly instead of on the traditional monthly timeframe. Fair question. I think it's unfair that you, a professional service provider, must commit to perform work *and* carry the risk of non payment for such a long time. I can help you reduce this risk in a few ways. One is to bill flat fees or value bill. Another is to bill more frequently (weekly). In my daily conversations with law firm owners, there's less resistance to more frequent billings compared to FF or value billing. ?? Change is scary. Many times, the reasons I am told that change isn't possible is assumptions made that *clients* don't like change. True to some extent, but honestly if your firm doesn't have a healthy cash flow, your firm won't survive long term.