Timmel Law, which began in 2009, has been an LWP member since 2012. Located in New Albany, IN, it has the unique distinction of serving markets in 2 states, Kentucky and Indiana, or “Kentuckiana.” Attorneys Peggy Timmel, who founded the practice, and Jessica Richards together with a support team of seven, plus Fred, a delightful canine who serves as the “Director Of Goodwill,” provide estate planning, elder law, asset protection, long term care & Medicaid, veterans’ benefits, and probate & estate administration services for their clients.
Attorneys Jessica Richards (left) and Peggy Timmel (right)
To celebrate Timmel Law’s many successes, LWP sat down with Jessica Richards to talk about their firm.
What is the greatest success you’ve had since joining LWP?
Our revenue has increased 120% since 2014. Our firm has grown from 2 attorneys & 1 CSC to 2 attorneys and 5 full-time, 2 part-time team members. We have a very strong, cohesive team right now, and we used the Kolbe/Strengthsfinder to build it.
What do you believe sets Timmel Law apart from your competition?
Peggy does! She is incredibly empathetic; that is just one of her strengths, and it can be helpful to hand-hold people through the process, particularly if they’re having a tough time. Also, we’re not pushy or salesy; about 90% of our clients come through our workshops, and that’s the main way we educate people about what they need.
LWP helps set us apart, too. The integration of the LWP system – processes, drafting software, member interaction, and membership support, has empowered us to educate individuals and then address their fact specific needs with great outcomes for clients and our team.
For example, we have the processes and use the workshops, and people getting pre-educated in this way is huge. Also, we’re good at finding the right solution for clients because we don’t just assume there is only one way to do things. Some of our competitors are only able to offer 1-2 options, and there are some that do general estate planning, but not Medicaid planning, so there are issues that they’re not addressing for their clients. They’re not thinking about looking at a trust for asset protection, while we remain focused on providing a number of options to best suit our clients.
What was your deciding factor in choosing LWP over our competitors?
LWP isn’t just a drafting software; we joined because we appreciated the focus it provides. All of the processes are like an overall umbrella to keeps us organized, anchored to systems, and delegating properly. It’s all about being more efficient: taking time to set goals, identifying who in the office should be doing what, working within your strengths, and having a weekly team meeting. We also appreciate the member support and interaction, and we send at least one person from our team to every TAPER.
Speaking of TAPER, what’s one of the best tips you’ve gotten from attending?
We heard one attorney at TAPER talk about putting a certain percentage of revenue into a charity account each month, so when there’s a cause the firm would like to support, there’s already money set aside. We loved that idea, and we implemented that in our firm as soon as we got back.
What is your favorite LWP tool?
The CCS drafting software and templates. This keeps us focused on the client’s needs and building a plan that works for them. Plus, it makes the drafting process less tedious. It took a while to get on board, but now I take the design meetings, and our paralegal drafts.
You joined the practice in 2013. What kinds of changes, if any, have you seen in your market or with your clients, since then?
I’ve seen the same types of issues, but our competence and abilities have changed. When I first joined, it was just the two of us and an assistant. We had similar client issues, but now, we handle more volume and find new solutions and find exception in Medicaid rules.
What are some of the biggest challenges your clients are facing right now? Are you seeing any trends in client needs?
There aren’t a lot of trends; it’s just consistent that when clients need to go into a nursing home or need care, they’re concerned whether everything will go to the nursing home. In Indiana, we have more Medicaid opportunities Medicaid covers home care. We also get a lot of people who need help when their parents go into a nursing home. They do planning for their parents, and then for themselves.
Any advice for attorneys who are new to estate planning & elder law?
Join LWP! The cost of doing something like this can be scary, but it’s critical to be able to build the firm. Also, stick to processes as much as possible. Most people don’t want your firm to get too big.
FUN FACTS About Jessica Richards:
Share something about yourself that most people don’t know about you.
I have been to the Infield at the Kentucky Derby for 24 consecutive years. It started out as a family tradition long before I was old enough to attend. I continue to go with some of my cousins and many friends who have joined the tradition over the years. The best part of the day is when we stand in a circle singing “My Old Kentucky Home” right before the best two minutes in sports.
What is your favorite book and how did it impact your life?
I love to read, especially fiction! So this is a hard question for me. I am much better at top 5 lists, so in no particular order:
- To Kill A Mockingbird
- Pride and Prejudice
- Atonement
- Atlas Shrugged
- Hunger Games Series (I love dystopian novels – for example, I just finished reading 1984 this week)
Each book had its own unique impact on my life. Most importantly, each book contributed to my love of reading and diving into a fictional world.
