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Thoughts on Trusts and Estates as practice area?
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Date: January 24th, 2022 7:58 PM Author: lavender hell (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841235) |
Date: January 24th, 2022 8:03 PM Author: Domesticated state private investor Don't have any experience in it.
But I'd imagine that it's quite easy once you have a template database and a good practice guide.
Hard part would be business development.
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Date: January 24th, 2022 8:16 PM Author: Chestnut Anal Cuckoldry Main People This is a good approach to getting sued for malpractice lol (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841331) |
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Date: January 24th, 2022 8:52 PM Author: Appetizing brilliant halford really tough guy Is wealth counsel worth it? (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841551) |
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Date: January 24th, 2022 9:12 PM Author: Chestnut Anal Cuckoldry Main People No (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841699) |
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Date: January 24th, 2022 9:14 PM Author: Appetizing brilliant halford really tough guy Because it's a scam or because you can learn the practice without it? (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841706) |
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Date: January 24th, 2022 9:18 PM Author: Chestnut Anal Cuckoldry Main People Wealth counsel is like pay for play shit. If you want to learn the practice the cr is to do state bar CLEs , study ACTEC materials , pay for one of the 3-4 good document drafting software packages (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841727) |
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Date: January 24th, 2022 9:19 PM Author: Appetizing brilliant halford really tough guy Which software do you recommend? (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841734) |
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Date: January 24th, 2022 9:23 PM Author: Chestnut Anal Cuckoldry Main People If it’s available in your state, Lawgic is reasonably good.
I might have misunderstood your question on wealthcounsel. I thought that was like a professional org, but it seems they have some drafting software too. I have no opinion on the drafting software . |
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Date: January 24th, 2022 8:55 PM Author: Domesticated state private investor (T&E shitlawyer who thinks his job is harder than it is) (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841568) |
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Date: January 24th, 2022 9:15 PM Author: federal pocket flask menage wtf no its not (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841710) |
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Date: January 24th, 2022 8:10 PM Author: Chestnut Anal Cuckoldry Main People What are your questions? (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841288) |
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Date: January 24th, 2022 8:29 PM Author: lavender hell Can I maek it as a new lawyer if I hung a t&e shingle without working for somebody else or am I barking up the wrong tree and better off pursuing PI? I have like 12 years of corporate strategy experience but tired of it and hate working for the man (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841387) |
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Date: January 24th, 2022 9:10 PM Author: Chestnut Anal Cuckoldry Main People You can make it but the learning curve is tough. But you can self educate. The hard part is, as others have said, building a reputation.
A related area is elder law. If people want to make it as a solo, I think that is a really good field to start in. It’s less contingent on having wealthy clients (in fact the core elder law client is probably not wealthy, because elder law is focused on Medicaid qualification ). Elder law , by which I really mean Medicaid long term care benefits law, is very technically complex and niche but 1) entry barriers are relatively low 2) middle class people will pay you retainers of 10-20k to do the Medicaid applications because the money is going to the nursing home if they don’t and 3) it’s a 9-5 type practice
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Date: January 24th, 2022 9:13 PM Author: lavender hell ty brother. (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841702) |
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Date: January 24th, 2022 8:10 PM Author: Domesticated state private investor I've never figured out whether PMtp is the real Paralegal Mohomad. (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841292) |
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Date: January 24th, 2022 8:11 PM Author: Appetizing brilliant halford really tough guy Prole trust and estates that can be replaced by legalzoom or prestigious TAXABLE ESTATES? (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841298) |
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Date: January 24th, 2022 8:15 PM Author: Chestnut Anal Cuckoldry Main People There is actually a big middle ground of ppl with 2-10 mil who have businesses, kids with marriages on rocks, disabled family members, etc who need competent estate planning/administration services
Even estates not required to do 706 tend can have pretty complex tax shit , su chapter J and (if business interests) K are gnarly areas of code
Plus estate litigation is booming area |
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Date: January 24th, 2022 8:27 PM Author: geriatric marvelous area Are these mostly serviced by mid law firms? Doesn’t seem good for a solo practice (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841374) |
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Date: January 24th, 2022 9:11 PM Author: Chestnut Anal Cuckoldry Main People Most mid law estates and trusts practices are second rate
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Date: January 24th, 2022 8:33 PM Author: blathering violet hairy legs forum (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841411) |
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Date: January 24th, 2022 8:54 PM Author: Arrogant Sound Barrier One of the worst parts is that you have to constantly churn clients. That creates a lot of admin work and dead time.
Much better to have a practice like corp or litigation where you have at least a few big clients imo. |
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Date: January 24th, 2022 9:08 PM Author: lavender hell That is a good point brother. (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841677) |
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Date: January 24th, 2022 9:09 PM Author: Domesticated state private investor Counterpoint -- litigation is hell on earth. (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841682) |
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Date: January 24th, 2022 9:15 PM Author: Arrogant Sound Barrier fair, i'm not a litigator lol (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841711) |
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Date: January 24th, 2022 9:12 PM Author: Chestnut Anal Cuckoldry Main People The counter to that is that your life is not ruled by one or two big clients . If someone is a pain in the ass you can tell them to fuck off and hire another lawyer. Feels good (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841697) |
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Date: January 24th, 2022 9:16 PM Author: Arrogant Sound Barrier To be fair, if you're not a huge faggot you can also tell a big client to fuck off. (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841715) |
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Date: January 24th, 2022 9:19 PM Author: Chestnut Anal Cuckoldry Main People Yes you can , I suppose. You can tell a little client to fuck off and still pay the bills though. (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841732) |
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Date: January 24th, 2022 9:09 PM Author: Ivory Locale Skinny Woman How often do you write a will? Holy fuck seems niche. (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841681) |
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Date: January 24th, 2022 9:13 PM Author: wine bossy site organic girlfriend seems shitty (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841701) |
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Date: January 24th, 2022 9:21 PM Author: federal pocket flask menage its not terrible at all
get a bunch of good will and trust forms that you basically reuse over and over (if you do a trust, use your stock pour over will form and put the details into the trust document). Then get a good set of power of attorney forms and BAM you are good. Obviously make sure you know the state law on valid will drafting. Read TONS of samples - go online to your local probate court and download tons of will samples filed in probate estates. You will see certain parts that are in all of them. Study probate laws to see what things are waived in wills a lot (example, bond and inventory).
Or you can just stick to basic wills and estate planning, farm the complex work out, and stick to probate administration. I do a lot of this, and its pretty easy once you figure out how to do it. Will sometimes have annoying family drama to deal with and you can either take those cases too or farm them out. |
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Date: January 24th, 2022 9:29 PM Author: blathering violet hairy legs forum Is this profitable? Whats your most profitable practice area? (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841785) |
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Date: January 24th, 2022 9:33 PM Author: federal pocket flask menage its all about getting the work brother.
probate admin stuff kind of has a different line of referrals than other areas of law - yeah you get some attorney referrals but many times its through people like CPAs, realtors, and insurance agents.
getting straight will and estate work? Gotta market yourself to get going. I have a friend who is a former financial advisor who went into trusts and estates. All he does is draft all day long. Charges $2k or so per estate, does hundreds a year. Feeds me work he can't handle. For years he did lots of speaking at financial firms and every club he could get a hold of where he could speak to market himself and talk about estate planning. Now it just pours in. |
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Date: January 24th, 2022 9:42 PM Author: blathering violet hairy legs forum sounds like your buddy has a great set up. I am trying to figure solo stuff out right now. (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841867) |
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Date: January 24th, 2022 9:46 PM Author: federal pocket flask menage he did have a specific niche in that area that helped him. Like financial advising, then biglaw trusts and estates then solo.
But I think even he would tell you that for the vast majority of clients he is basically using the same forms over and over, making minor changes to certain sections, and of course knowing a tiny bit of tax law (that again, he states over and over)
honestly I would find a trust and estate solo and do cheap contract work for them for a while to learn the area. |
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Date: January 24th, 2022 9:37 PM Author: Appetizing brilliant halford really tough guy Assume you stay away from taxable estates? (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841844) |
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Date: January 24th, 2022 9:37 PM Author: federal pocket flask menage I dont touch those. I would refer those to my buddy (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43841849) |
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Date: January 24th, 2022 11:35 PM Author: plum dead base blood rage what is a "taxable estate" -- like large enough that it's greater than the exemptions or whatever? (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43842449) |
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Date: January 25th, 2022 9:39 AM Author: geriatric marvelous area Yes there's a 11m exclusion. I think you can use your spouse's exclusion too if they die first (http://www.autoadmit.com/thread.php?thread_id=5015975&forum_id=2#43843391) |