In this fourth part of a four part series on how to represent a claimant before the VA, Matthew Donald, Esq. Director of VA Services, cuts through the misinformation and provides an overview of what is actually happening with the VA’s proposed rule change.
Understanding a Veteran with PTSD
This time of year, we remember with gratitude the many joys that our families, friends, clients, and neighbors have brought us, and we especially remember the sacrifices of those who have served our country. The Outreach Team at Maryville University has asked us to share this article with you, so that as attorneys, we might have a heightened understanding regarding the challenges that so many veterans face.
– Article courtesy of Maryville University. See the original article here: https://online.maryville.edu/online-bachelors-degrees/psychology/understanding-a-veteran-with-ptsd/
Why It Is Worth the Time to Forge Relationships with Allied Professionals—Yes, You Can Develop Profitable Referrals!
To a large extent, your success is determined by how well you manage your leads and vital relationships, especially referral relationships with allied professionals. Unfortunately, forging and maintaining profitable referral relationships is one of the greatest challenges facing most law firms.
In the coming weeks, we’re going to discuss proven strategies for building a strong referral network. We’ll talk about how to get started on the right foot, the questions you need to ask to qualify your referral sources and properly set expectations, how to track your results, and more.
At the very least, we hope these emails help you understand the importance of the following two concepts:
Contrary to what some potential referral sources would have you believe, your value is not in the referrals you send back. Your value goes far beyond that.
Your goal is not simply to have good meetings with allied professionals. Rather, your goal is to turn meetings into revenue.
Logically enough, building profitable relationships with allied professionals begins with knowing precisely which professionals you should be meeting with. We’ll talk about that next time.
Use the Proper Software and System to Build a More Efficient Team
Using state-of-the-art software within an effective system allows you to build a highly efficient team and firm. Each workflow is comprised of a series of steps with a defined set of tasks to be completed at each step. Many of the steps are designed to do things automatically, like assign tasks to staff, send emails to update your clients on progress, and much more. Your staff can easily see the work assigned to them and what they need to do next, while you get a crystal clear picture of the workflow throughout your whole firm. You will see every matter’s progress, who is working on what, the steps that need to be taken next, and what might be holding things up. Armed with information like this, you’ll be able to better hold members of your team accountable and improve overall efficiency.
As we have seen, leading-edge software allows you to generate accurate, customized planning documents following a single client interview. Over time, and with proper training, you may even be able to turn this task over to a paralegal. And in the process, free up more time to pursue new clients and generate new revenue, or to simply work less and live more. The possibilities are limited only by your priorities.
From Efficiency to Proficiency: Automatic Alerts about Potential Planning Mistakes
State-of-the-art asset protection software can alert you to potential problems. Case in point: During the interview, LWP software will display “light bulb” icons offering built-in practice tips and pointers that provide background and help you make informed choices. For example, there is a light bulb that displays information about required minimum distributions, which can help you select the best option for how to treat income from retirement accounts. These practice tips can include the language that would appear in your documents based on the selection you choose, references to case law or other legal authority, and sometimes just a simple explanation of the legal concept to help you make the proper selection for a particular client’s needs.
Light bulbs are just one of the safety nets you’ll find in LWP’s cloud-based software. A big, bold warning appears if one of your selections could impact your client’s Medicaid eligibility. It reminds you to use your best judgment to determine whether the warning applies in your jurisdiction and in your client’s particular situation.
Improve Your Efficiency Further with the Power of Dynamic Interviews
Another powerful component of some software is the ability to do dynamic interviews. Let’s say John and Jane Sample want separate revocable living trusts and you collect the information needed to do each one. But what if they change their minds and want a joint revocable living trust? The software can help you make the adjustment. When you change the parameter the software then “knows” you are only creating a single joint trust for both John and Jane and it no longer requires you to ask questions for Jane’s individual trust, or enter that information, thereby saving time.
So just how much time can you save with the right software? With the simple click of a ‘Finish’ or similar button, all of a client’s relevant information will be assembled into customized WORD documents specifically tailored to meet your client’s needs. In effect, you’ll have turned 15 to 20 hours of document drafting into less than two hours of work.
Next time we’ll discuss how the proper software can enhance document accuracy and coordination.
Create Customized Estate Plans with Greater Efficiency
The process of creating a customized estate plan begins with the client interview. State-of-the-art software uses a single-entry system; as you work through the interview, you only have to enter information once. That information is later reused in the interview and replicated in the assembled documents.
Another benefit of a single-entry system is that it allows you to easily update necessary information. For example, if you need to change Bob Sample’s name to Robert P. Sample (or make a change considerably more complex), you only have to correct it once. The change will automatically be adopted throughout the interview, and ultimately, across every document included in this particular estate plan.
Additionally, the data collection tools within the software and workflows are designed to make it easier for you to gather the information you need to draft your clients’ documents. For example, when your legal assistant or client services coordinator enters a client’s information into a matter within the workflow, the information will populate and pre-fill some of the choices within the software interview.
Next time: Discover the power of Dynamic Interviews
Improve Your Firm’s Efficiency One Keystroke at a Time
Greater efficiency is one of the keys to greater profitability. As an estate planning and elder law attorney, if you want to become more profitable, your firm must be able to draft an asset protection plan more efficiently. The right software can help you accomplish this.
The improved workflow efficiency inherent in computer software is sometimes compared to the greater efficiency automation brings to manufacturing. Consider the automobile. Building a Rolls Royce, where many of the required tasks are completed by hand, requires six months. Compare this to a typical sedan. That process, which can be roughly divided into stamping, welding, assembly, painting, and inspection, takes less than 18 hours.
At this point you might say, “My firm is not a document mill, we design customized plans. Cookie cutter plans don’t work.” You’re right. Fortunately, using the proper software does not limit you to creating a Toyota Corolla-like plan, you can use it to produce the asset protection equivalent of a Rolls Royce. You’ll see how next time.
Seize the Day, Every Day: The Benefits of Cutting-Edge Asset Protection Software
Given the amount of time and energy you put into running your law firm, do you feel like you should be making more money?
Do you wish you could spend more time with your family or on the hobbies and activities that interest you most?
Do you feel like there is simply not enough time in the day to accomplish everything you need to get done?
In short, does it sometimes feel like the sacrifices you make to own an elder law and estate planning firm outweigh the benefits?
We would never suggest that asset protection software is some kind of panacea, capable of eliminating all of the aforementioned challenges. However, it’s a great place to start. And the better the software, the greater your chances of seizing control of your time, your firm, and possibly, your lifestyle.
In the coming weeks we’ll discuss what the proper asset protection software can help you accomplish, starting with greater efficiency. Until next time.
How to Represent a Claimant Before the VA: The Appeals Process
LWP’s Director of VA Services, Matthew Donald, Esq., provides an overview of the VA Appeals Process.