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May 22, 2012 Practice Management
Lists—the Danger and Utility
Jan Copley, Attorney at Law www.copleycoaching.com Member of WealthCounsel Listing, Listing No, I am not talking about leaning sideways! I’ve been writing about checklists and processes. I thought I would spend one more blog posting talking about the danger and utility of one of the most humble of thought documents: the list. Lists can be useful. I think there are two major reasons to use lists: (1) as a brain dump; and (2) as a clarifying tool. The list as brain dump. Are you worried that you can’t remember everything you should be doing? Do you have the nagging feeling that you are forgetting something? Then write it down! You can refer back to the list; you can add things to the list; you’ll fee... Read More
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May 17, 2012 Financial Planning
Naming a Family Financial Assistant
Tim Borchers, Esq Borchers Law Member of WealthCounsel How Naming a Family Financial Assistant Makes Handling the Clients Affairs Easier for Everyone Involved My reluctant observation after many years planning estates is that the last ten years of clients’ lives are often a financial “lost weekend” when nothing is accomplished, nothing is tended to, and much harm is done to the client’s financial well being and the value of the ultimate estate. To help avert these losses, I am recommending to clients in the 65 to 70 and older age range that they select a member of the family who would be their go-to person to learn the ropes and eventually assist them on financial matters. This person I am calling the “Family Financial Assistant” or sometimes... Read More
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May 15, 2012 Social Media
5 Tips on Social Media: How to Get Help While Staying In Control
By: Darlynn Morgan Morgan Law Group Member of WealthCounsel Despite its popularity, social media is still a widely-debated marketing tool in legal circles. Many lawyers are still testing the water to see if sites like Twitter and Facebook are a complete waste of time or a valuable resource in driving new leads and exposure for their firm. I strive to maintain an active presence on both sites and I’ve found that some of my best speaking engagements and local publicity opportunities have come from connections made on social media. Having an active presence also helps with SEO, as websites are ranked higher when they are constantly shared in social communities (it’s a sign to Google that your site is “popular”). Of course I don’t have time... Read More
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May 10, 2012 Practice Management
You Can’t Move Forward Looking Back – Part Three
Peggy Hoyt, JD The Law Office of Hoyt & Bryan, LLC Member of WealthCounsel [Part 3 in a series of 3 articles.] This is the third and final installment of ideas gleaned from the Millionaire MBA. It’s important to take time to reflect on some of these issues. 21. Get in the groove. Essentially what this means is you have to create a routine that works for you. It will help you to organize your time and your day for maximum productivity. What does your “typical” day look like? Is there any structure to it at all? Do you have a time map for what to do and when? Are you allocating your time to your highest and best uses? My days all look pretty similar. I have to have a routine or I wouldn’t be... Read More
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May 8, 2012 Social Media
Can You Require Employees to Turn Over Their Facebook Passwords?
Ethan J. Wall, Esq. Richman Greer, P.A. Employers across the country are requesting access to potential hires’ social media pages to weed out unwanted candidates. They are also curious of how their employees are representing themselves in an ever-increasing online world. Employers are understandably wary of employees acting in a disparaging way while at the same time displaying an affiliation to their employer. But can an employer legally require their applicants and employees to turn over access to their social media profiles – revealing all content and messages that are often hidden behind various privacy settings? If you work in Maryland, the answer may be “no.” Maryland lawmakers are in the process of passing legislation prohibiting employers from asking... Read More
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May 1, 2012 Practice Management
Lists, Checklists and Processes — Oh My!
Jan Copley, Attorney at Law www.copleycoaching.com Member of WealthCounsel Many of my coaching clients struggle with protocols in their practices. As a result, it seems they continuing reinvent the wheel, and they have to put out fires when seemingly routine matters go bad. My coaching involves telling my clients about the importance of creating written processes in their offices and I try to give them hints on how to do it. Late last year, I read Atul Gawande’s The Checklist Manifesto. The book got me thinking about the various tools we create to remember things and to get things done. I’ve decided that we use three different types of devices: lists, checklists, and processes, with subtle differences between them, but all very useful. C... Read More
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April 24, 2012 Practice Management
Are You A Situational Extrovert?
Mark Powers Atticus, Inc. Shawn McNails Atticus, Inc. At its simplest level, marketing yourself requires you to cultivate relationships. Lots of them. With other attorneys, other professionals and often with clients. For those of you who delight in socializing, this is easy. You’re energized by being with groups of people and crave social contact. Your only worry is how to manage your time to fit in all the socializing you’d like to do. But it’s a different story for those of you who think of yourselves as shy. No matter how old you are, or how long you’ve been in practice, you may notice that you limit marketing y... Read More
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April 18, 2012 Estate Planning
Adaptable Planning Advice for 2012 and Beyond
Charlie Douglas, JD, CFP®, AEP We live in insecure planning times. Clients often feel insecure in transitioning wealth that they may need themselves at a future point in time to family members in flux, while advisors clearly lack the tax law visibility necessary to confidently advise clients as to how best to plan. A longer term and static planning mentality is increasingly imprudent and impractical. Consider the growing list of client-centric planning challenges: clients are living longer; health care costs are skyrocketing; family circumstances are continually changing; a deficit-riddled America will soon face austerity; and market volatility abounds with “black swan” events occurring every few years instead of every one hundred years. And fro... Read More
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April 12, 2012 Estate Planning
Why Process is So Important for Estate Planning Attorneys and Clients
Arthur J. Swerdloff, Esq. Swerdloff Law Firm Member of WealthCounsel Two estate planning cases, one early in my law career, the other in more recent years, have driven home the point that you can never put off finishing an estate plan no matter the age nor the level of participation of the client or client couple. Therefore a process to stay on course is essential. The first case involved an older doctor and his wife. The doctor was aware he had advanced heart disease. We worked for several weeks to come up with a plan the couple could approve. At the time, trusts needed to be typed page by page from forms, so the turnaround time was long. Nonetheless I met with the doctor and his wife at their home with a completed set of documents and reviewed the plan with them. I asked them to... Read More
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April 10, 2012 Practice Management
The Peter Principle – Alive and Well
Peggy Hoyt, JD The Law Office of Hoyt & Bryan, LLC Member of WealthCounsel The concept behind the Peter Principle is that people get promoted until they reach a level of incompetency. This makes sense. As long as I’m doing well, learning, and performing, my efforts may be noticed and if there is an opportunity for advancement, I’ll get promoted. Ultimately, I’ll be promoted to a level where I’ve exceeded my capabilities to learn and grow - hence, the idea that I’ve reached the outer realm of my competency. We’ve probably all seen the Peter Principle in action. These are people who are not competent to carry out the responsibilities they’ve been given or in some cases, responsibilities they’ve assumed on their own. As an entreprene... Read More