Located in Glastonbury, Connecticut, and serving most of the state, Baker Estate Planning Law, LLC has been a LWP member since 2016. Founder and owner, George Baker, began his legal career by working in a general practice firm for about six years prior to having the distinction, at just 29 years old, of becoming the youngest probate judge ever elected in Connecticut. Baker continued working at the general practice firm while serving as judge for one term prior to a relocation that prompted him to specialize in estate planning, and ultimately to start his own estate planning firm in 2007. Currently, in addition to running his firm, Baker is also an Adjunct Professor in the paralegal program at Manchester Community College where he teaches a course on Probate Practice and Estate Administration.
LWP sat down with George Baker to talk about his firm and the changes it’s experienced since becoming a member.
What brought you to LWP?
I had been practicing in my own firm for several years prior tojoining. At that time, I wasn’t doing workshops, and I needed help bringing in clients and with overall process and procedure. I had heard Dave Zumpano speak about Medicaid, so I was aware of him and of LWP. I became a member, but it was not until a year or year and a half after I’d joined that I became fully engaged. I had met up with Dave for a chat, and I decided I needed to engage fully and implement the system, or I needed to let it go. I chose to engage.
What is the greatest success you’ve had since you fully engaged with LWP?
In one year, from the point at which I was fully engaged with the LWP process, my firm doubled its income. This year, my firm is even ahead of that; we’re probably up 20-25% in revenue over the previous year.
To what, specifically, do you attribute your revenue growth?
I’d say it’s the implementation of the LWP process. The marketing and workshop processes go hand-in-hand with revenue. I’ve got 3-4 signings per day. I also do RMS, and that is working. I’d like to say that I follow the RMS process religiously, but I do need to follow it tighter than I do. I’ve built a couple of relationships with firms, and they are feeding us quite a bit. I’m also planning to educate other accountants and financial advisors so I can be the go-to person in Connecticut for their questions and referrals.
Also, my staff. When I ended up fully engaging with LWP, I put in the effort to bring on a Client Services Coordinator, and that’s when things really improved. Getting the right person in that role is key. For me, that’s Pauline. She gets people in, follows up, and gets them signed up. People love her, and she does a great job. They sign up because of her; she’s their first contact. We’re hitting around 85-90% conversion rates with our workshops.
What do you believe sets Baker Estate Planning Law apart from your competition?
I have quite a few competitors in my area. There are probably about four or five in Glastonbury, and one is quite large, but doesn’t have a good reputation. Another is known as the “cookie cutter guy.” I think what sets me apart is that I don’t push people, so there’s not a lot of pressure. I focus on education and having compassion, so my clients have a good experience with my firm from beginning to end. Because of this, client referrals are really picking up, and we think about 20-25% of our workshop attendees are referrals.
What was your deciding factor in choosing LWP overour competitors?
I had been a member of an LWP competitor for one year, but I found their methodology to be a hard sell, in which clients were mostly pushed into one particular trust option. It wasn’t a personable method of doing business, and it was one that upset clients. It wasn’t for me, but I did learn a lot on the marketing side. I had the technical knowledge, but I realized that I had to do the marketing piece and implement systems and processes to be successful. After talking with Dave and using the Medicaid software, I didn’t consider any other LWP competitors.
Do you attend LWP’s TAPER events, and if so, what wow’d you there?
I have been to four TAPERs so far: Louisville, Tampa, Houston, and Syracuse. I am planning to go to Atlanta. Last fall, there was the presentation on IMQ (In Marriage QDRO®). I did one about a month ago, and I’m currently waiting for the judge’s decision. Hopefully, we can get that decision soon, and if so, it will be the first one in Connecticut.
What is your favorite LWP tool?
I love the wagon in the workshop. People love it, too, because they all relate to it. I also really like the software to draft a trust. The coolest tool is the workshop.
What kinds of changes, if any, are you currently seeing in your market?
Sadly, a lot of my clients are moving out of Connecticut, and from a planning perspective, most people are focused on trying to protect their assets. It’s a tough state from a Medicaid perspective in terms of transfer rules. That’s the real trend—they want to know how their plan is affected by a move, and ultimately, it’s affected by where they go. They might be going to a state that doesn’t allow a specific kind of trust. In general, a revocable trust is OK, but for an irrevocable trust for asset protection, there could be an impact.
Any advice for attorneys who are new to estate planning & elder law?
Become proficient in the technical side, and if you’re starting out young, focus on business development and growing your own business. Be strong on the marketing and development side. They don’t teach this in law school. When I started out, you weren’t supposed to advertise. Now, I wish I’d done it 20 years ago.
