SettlementCounsel™
The WealthCounsel Estate Settlement System

 

Introducing SettlementCounsel™, The WealthCounsel Estate Settlement System -- a new practice building system from the WealthCounsel Practice Management Library for the Estate Planning Professional. This robust solution streamlines processes, introduces operational efficiencies, and provides legal support staff with a guided approach to each step of the post-mortem process.

Who Should Use SettlementCounsel?

SettlementCounsel is intended for attorneys who want a trust administration system that will:

Provide the attorney with a reliable practice management tool; 

Empower their legal team members with the necessary tools to proficiently manage the process; 

Provide full confidence to the attorney that his/her clients are happy and kept well-informed throughout the entire process – from the gathering of the estate to the closing of the file; 

Deliver a consistent experience for each client through a proven, guided approach that addresses all aspects of the post-mortem process; 

Give clients a sense of comfort, and reduce feelings of stress at this very difficult time; 

Increase the volume of cases processed without increasing the staff; 

Enhance referrals from clients and advisor, and thereby increase your revenue stream; 

Reduce the need for the attorney’s time and hands-on involvement in the process; 

Provide a consistent, streamlined approach for the handling of each client’s case, even in the event of staff turnover or the transition of new staff members into this area of the firm’s business.

Why the need for the WealthCounsel Estate Settlement System?

In early 2007, WealthCounsel surveyed its members on a variety of topics, including future goals for their practice. Approximately 87 percent of the respondents indicated that they need a trust administration software system, and once again, we are pleased to be on the leading edge of introducing new solutions that help our members build and sustain successful practices.

This valuable practice building and software system is available for purchase by WealthCounsel members as well as by any estate planning attorney who is committed to using the most cutting-edge system available today. WealthCounsel members will receive special discount pricing.

A robust and fully-automated solution for settling estates

Provides a high-tech but high-tech approach to post-mortem planning and processes

A sophisticated, back-office solution designed for use by legal support staff

SettlementCounsel Features & Benefits

Process driven

Profit-center focused

Customizable

Integrates with GEMS accounting system

Integrates with WealthDocs™

Integrates with the WealthCounsel Asset Transfer System™ 

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ADDRESSING THE NEED IN THE MARKETPLACE

Client Demographics

91% of estate planning clients are age 50 and over, and 54% are over the age of 60, according to practitioners who responded to our recent Industry Trends Survey. As clients progress in age and develop terminal illnesses, they expect that the attorney will “be there for them when the time comes.” Therefore, post-mortem planning is an essential next step in service to the client and his/her beneficiaries, as this is the stage at which provisions of the client’s trust and probate issues are executed following his/her death.

Highest and Best Use of the Attorney’s Time Inasmuch as this phase of the attorney’s service to the client is heavily centered around processing paperwork and other administrative functions, it can be labor-intensive, time-consuming and cumbersome if not automated or conducted in a systematic fashion. Attorneys have been reluctant to fully engage themselves in this aspect of service to the client due to the time it takes away from providing emotional support to the grieving family, as well as serving the demands of other clients. As with any business owner, attorneys are obviously mindful of the highest and best use of their time, and of those tasks which can be readily delegated and performed by support staff.

Continuum of Service to the Client: Intergenerational Planning Therefore, a need arose to introduce operational efficiencies into the post-mortem process and to have in place a guided check-list of action items that would insure that support staff handling the administration of the estate were executing the process proficiently and properly trained. An automated back-office system would allow the attorney to fulfill his sense of duty to the client, while feeling a high level of confidence that the delicate tasks were being administered properly by his staff. And perhaps more importantly, such a system would enable to attorney to maintain a continuum of contact and build lasting relationships with the deceased’s heirs, thereby providing an opportunity for intergenerational estate planning beyond the post-mortem event.

Profit Center

The opportunity to deliver a highly-valued service while minimizing attorney involvement is essentially performing the service at an “economic optimum” with a positive impact on the bottom line. 

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