The importance of a documented estate planning process
Estate lawyers know the importance of having a documented estate planning process. A clear process improves the client experience, protects against liability, and increases file efficiency.
After speaking with hundreds of estate lawyers across Canada about their estate planning process, we've developed this guide, highlighting ten key stages of an estate planning file and their importance. Working with leading estate lawyers, we've also created this downloadable estate planning file checklist featuring these steps. Whether you're starting a new practice or are looking to improve an existing one, this checklist can serve as a helpful foundation.
The 10 stages followed by estate lawyers
Inquiry: Many lawyers will begin with an introductory email which outlines their process, expected timing, and fees. The inquiry stage is important for both clients and lawyers, as it sets client expectations and weeds out undesirable clients. It also provides a great opportunity to identify the referral source and help with your marketing
Data Collection: Questionnaires are most commonly used to collect data before a client meeting. It’s important to have a thorough questionnaire to ensure you capture all the information needed for the planning stage. To help lawyers with their client intake, we've created a free client intake form template, available here.
While full asset information might not be crucial in every file, you won’t know you don’t need it until you actually get it. Having that information gives you a better sense of how difficult or simple the plan will need to be and ensures that you don’t miss any important issues.
Pro Tip
Inadequate investigation is the number one cause of claims against estate lawyers.
To make your practice safer, use this free intake form template.
Looking to further improve your practice and intake process? eState Planner features interactive and customizable client questionnaires. It also informs users of potential legal issues based on collected client data.
Retainer: Having a retainer agreement defines the scope of your work and specifies any limits to the services you provide, such as not providing foreign advice or tax advice. The retainer also establishes fee arrangements.
Over 60% of lawyers get a deposit before starting to draft. And since many will clients take time to finalize and sign their documents, working without an upfront deposit means you risk providing unpaid services for an extended period.
Planning: This is where the lawyer adds the most value. At this stage, it is helpful to provide the client with context of how wills work and follow a logical structure that is easy to follow. It is recommended to break down any complexities into options and use visual aids to demonstrate their instructions and plan—something eState Planner can do with graphic summaries.
Documenting the client’s instructions is fundamental. Careful notes or audio recordings should document specific instructions given by the client and questions asked by the lawyer. 5
Drafting: Many lawyers use precedents to draft wills. While precedents may be very helpful as a starting point, the draft has to take into account the client’s unique circumstances.
On average, the manual drafting stage takes approximately 1-3 hours, depending on the complexity of the instructions. With the right technology, the drafting stage can now be easily streamlined, and the time allocated can be reduced to minutes.
Client review: Using an easy-to-understand guide to summarize the will is very helpful for clients. A visual and text summary—like the one below generated by eState Planner—helps clients understand what’s in their will without legalese.
Clients are typically responsible for ensuring that all names in the will are spelled correctly and for identifying any factual errors. With technology, those should be pretty much eliminated. Keeping a record of the changes made between drafts is also a good idea.
Execution: The process for execution of the will is very strict. Both witnesses and the testator must be in the physical or virtual presence of one another when the will is executed. If there were any changes made from the review meeting to the final draft, it is a good idea to point those out to the client. Even if there were no changes, you may also want to do another quick review of the key points of the will with the client - the executors and the disposition of the estate.
Fee: When determining an appropriate fee, consider the time required to draft a will, the risk of liability, and what other lawyers in your area are charging.
Each year, we survey hundreds of lawyers about their practice, with a key insight being the average fee charged for a typical file. To find out what lawyers in areas similar to yours charge, download our annual state of estate planning report.
Reporting/closing: Reporting letters confirm that the retainer is at an end and often identify any major issues raised by the lawyer. A standardized reporting letter can protect lawyers against many areas of liability.
Storage and delivery: Many lawyers return the original will to the client. It is customary to also provide an affidavit of execution with the original.
If the law firm agrees to store the original will, the will must be kept in a safe place. Additionally, it would be prudent to have an escrow agreement which outlines the parameters for releasing a Will or power of attorney document.
Ready to elevate your practice? Book a demo to see how eState Planner can improve your estate planning practice.
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