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What Is The MMMNA?

October 8, 2014

by David Zumpano with One Comment Asset Protection Medicaid

MMMNA means minimum monthly maintenance needs allowance. MMMNA[1] is the minimum income that the community spouse (CS), or well spouse, gets to keep when the other spouse, the institutionalized spouse (IS), goes into the nursing home. Medicaid law says that the income of the Medicaid applicant in excess of the limits must be used toward the cost of care. But if the applicant has a spouse, Medicaid, through the concept of the MMMNA, allows the CS to keep some or all of their income.

Medicaid considers the gross income of the CS. If the CS’s income is in excess of the MMMNA, then under the federal law, 25% of the CS’s income in excess of the MMMNA must be used for the IS’s cost of care. While New York is currently the only state that enforces that provision, we must be aware of the federal rules because it is probably only a matter of time before other states are assessing the 25%.

Now if the CS’s income is less than the MMMNA, then income from the applicant will be diverted to the CS to try to get the CS’s income up to the MMMNA. If the CS’s income is still below the MMMNA, then assets needed to generate sufficient interest to fill the income up to the MMMNA are exempt. This is what we call the assets to income rule.

But there's a little more to it than that. The federal law says there’s a minimum MMMNA and there’s a maximum MMMNA. The states are allowed to set the MMMNA for the CS, but the federal government says the states can’t set a MMMNA below $1938.75 (we will call it $1,939 to keep the math easy) or above $2,931[2]. So your state’s MMMNA will be somewhere between those two numbers.

States vary in how they set the MMMNA. About half of the states are what we call “max states.” They set the MMMNA at the maximum end of the range and say that the CS can keep up to $2,931 in gross monthly income. Other states are “range states.” That is the MMMNA can fall somewhere between both the maximum and minimum range the feds allow for the MMMNA. In a range state, if the CS's income is less than $1,939, then the CS can take the IS’s income up to that minimum amount of $1,939. If the CS’s income was more than the minimum but less than the maximum, then income of the CS would be the MMMNA.

Let’s consider some examples:

First, let’s say there is a CS who had $1,000 in monthly income. The applicant, the husband, was the predominant income earner, and the CS had $1,000 of income. In a max state, the law says the CS could keep the first $2,931, regardless of whom it came from. So if the wife had $1,000 of income, she would be able to keep the first $1,931 of the income of the husband, who is in the nursing home. And if the husband didn’t have $1,931, then the assets to income rule would come into play. That means the law would say that, if the total income between the IS and the CS does not equal the MMMNA, then the CS can exempt additional assets needed to generate the income to get the CS up to the MMMNA. So again, if this is a max state, the threshold is $2,931. If the CS had $1,000 and the husband had $3,000 of income, the CS would be able to keep $1,931 of the applicant’s income.

In a range state, the CS is allowed to keep the minimum MMMNA, but if the income is below $1,939, then the CS gets to take income from the IS to get to the $1,939 limit. For instance, if a CS’s income was $1,000, she could take $939 from the husband’s income. If she had income of $2,500, then her MMMNA would be $2,500 because her income is below the maximum and above the minimum MMMNA. And if a CS earns more than the maximum MMMNA, then 25% of that amount in excess would have to be contributed toward the cost of care. Those are the federal rules. But remember, only New York currently applies the 25% rule. Most states allow the CS to keep any income in excess of the MMMNA.

REVIEW:

You should now be able to figure out the MMMNA for a few basic cases. So let's go through what the minimum and maximum would be, and what the MMMNA would be, in each of four scenarios.

Starting with scenario one and scenario two, the fact pattern is this:

The husband has $3,000 a month of income.
The wife has $1,000 a month of income.
The MMMNA minimum is $1,939; the maximum is $2,931.

In scenario one, the husband is in a nursing home, so we know that the wife is the CS, and she has $1,000 in income. Plus, let’s say that in this scenario that are in a max state, which means that the CS is entitled to the maximum income – $2,931.

What does that mean? That means of the total income of $4,000 between the husband and wife, $1,069 will be contributed toward the cost of care each month. If the husband goes into the nursing home, the wife gets her $1,000 of income plus she gets to keep $1,931 of the husband’s monthly income. The balance of $1,069 ($4000 – $1000 – $1931=$1,069) would go toward the cost of his care. (We are setting aside the discussion of his personal needs allowance, but whatever it is in this state, the amount contributed to the cost of care would be reduced by the personal needs allowance.)

What if the wife went into a nursing home? What’s the MMMNA in that case? It is still $2,931, but now the husband is the CS, so he would be able to keep $2,931 and he would have to contribute 25% of the amount over $2,931. So his $3,000 minus $2,931 comes out to $69, and 25% of that would be $17.25. But remember, New York is the only state that currently requires spousal contribution for incomes above the MMMNA. In all the other states the husband as CS would get to keep his total $3,000 in monthly income, and the cost of care would be $1,000, the wife’s income, less whatever the personal needs allowance is for the state.

Why? Because every other state allows the CS to keep whichever is greater, the MMMNA or the CS’s actual income. Again, that distinction is made because the federal Medicaid law does not require it or even allow it. The states allow it. Remember, the federal government sets the laws on Medicaid, and the states can be less restrictive, but they cannot be more restrictive. So in most states if the husband, who is the CS in this scenario, has $3,000 a month of income, they will allow him to keep 100% of his income. That’s why we have shown it here as $3,000, and all you would lose is the IS’s income of $1,000.

So how would this be different in a range state? With the husband going into the nursing home, the wife is now the CS, so the range state would allow her to keep the bottom of the range. She has $1,000 of income, but the MMMNA says the minimum is $1,939, so she gets to keep her income, plus $939 of his income. In this scenario she would get $1,939, and the remaining $2,061 of his income would be contributed toward the cost of his care (again less the personal needs allowance amount, which he would get to keep).

Income Allowance:

As has been alluded to, the IS is allowed a personal needs allowance, which ranges from $30 to $106.50, depending on the state. The applicant is also given an allowance to help pay for health insurance. The theory is that Medicaid does not want to get stuck being the primary insurance payer, so in addition to your personal needs allowance, it allows the applicant money to pay for a health insurance premium so the applicant’s insurance company can be the insurance of first resort and Medicaid can be the backup.

To be clear, Medicaid only exempts the cost of health insurance for the IS, not the CS. So, only the IS gets the personal needs allowance and the health insurance allowance. The CS gets the MMMNA. In addition, about 25% of the states also have a housing and shelter allowance, and another 25% of the states have a heating and utility allowance. These allowances are a state specific issue, so be sure to check yours. The federal law does permit housing and shelter and heating and utility allowances, but not all the states do it. And it is for the CSs only, with the intent being to make sure that CSs have sufficient income to stay in their homes.

No matter what fact pattern you are looking at, the first thing you need to determine is whether you are looking at a max state or a range state, then follow the methodology shared in here. Next look at the income of both spouses and figure out which spouse is in the nursing home, and which spouse is in the community. Then you can calculate the MMMNA. And in addition to the MMMNA, you will possibly have the housing and shelter allowance and the heating utility allowance, depending on the state. Of course, if the applicant is not married, you don’t even have to worry about that MMMNA calculation. All of the income that a single applicant gets to keep is the personal needs allowance and the health insurance premium amount.

Did you know we are announcing NEW pricing, services & membership changes—Effective Monday, October 27^th

At LWP we are committed to innovation and continuous improvement. In an effort to augment our services and the value of our membership levels, LWP is excited to announce changes to our membership levels. All membership offerings were specifically designed to serve solo, small and medium sized firms based on their customized needs. Changes are applicable to all NEW memberships beginning Monday October 27^th. If you are interested in learning more about joining the Lawyers with Purpose community, please contact mhall@lawyerswithpurpose.com to schedule a 15 minute demo to see the upcoming Pricing, Services, & membership structures prior to October 27th!

Existing LWP member? Great NEWS, you’re grandfathered in!

David J. Zumpano, Esq, CPA, Co-founder Lawyers With Purpose, Founder and Senior Partner of Estate Planning Law Center

[1] MMMNA is usually pronounced “Triple M NA,” but others call it an “mmmmmmm –NA”

[2] At least those are the amounts as of April 29, 2014. These numbers do change, so be sure to double check them.

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Workshops – Why & How!

October 7, 2014

by Lawyers With Purpose with 2 Comments Legal Marketing

More times than not, while on call with members talking about marketing, I get asked:

“Why do I NEED to do workshops?”
“How often do we need to do a workshop again?”
“How do I fill them up?”

First of all, I really want to make 100% clear that workshops are NOT part of your marketing. They are part of your client enrollment! They are simply how you communicate what you do. They are educating.

Marketing is all that we do to get the phone to ring. As soon as the phone rings, the marketing department has done its job. Once that phone rings and we pick it up, we switch to enrolling! And not selling. Never look at it as selling. Don’t even use that language. Use the word “serving” instead of selling or “enrolling.”

The workshop is the enrollment to convert a prospect to a client. The CSC has to understand two things when that phone rings: (1) pre-qualify them and see if they need a workshop or an initial meeting – crisis planning; (2) if they need a workshop – non-crisis – ENROLL THEM IN A WORKSHOP!

The workshops convey what the prospective client needs to learn – they teach them the 15 core things that we know are the pains in the industry. If you follow the 7 Threats workshop and the stories in it, you’ll hit their pains. We’ve done the research and built the stories in there, and they are the reasons prospects are calling your office. The workshop is created to resonate to them from their perspective and touch on the things that keep them up at night. It’s actually designed to educate them and is based on the top 15 things clients have told us are important to them over the last 20 years. You’re going to learn things you had never even thought of.

And I’d like to point out that once members that start telling the stories in the workshop and start using them during the estate planning audit, their closing rate doubles or triples. So that right there is why you need to be doing them – for your client education and enrollment. It’s step #1 in the process!

HOW OFTEN TO HAVE THEM?

Two per month should be the minimum! I know you can’t fill them, yada, yada. But here is the key – they have to be on the calendar to fill them up. I’m not kidding when I say here, “If you build it they will come,” but it has to be in your calendar to fill it.

And at two times a month consistently, you’ll make sure you are engaging with prospects every two weeks if you follow the system from workshop to vision to design to sign.

Every time your phone rings, you have got to feed prospects into the workshop. You can’t have an effective vision meeting if they don’t go to the workshop. As time goes on, you’ll find they’ll start filling up!

And if you are out doing synergy meetings, you are asking your power partners to come to the workshop. Once you get them there, they love it and help fill it up.

Once they come and see it, they fill it for you! They get it! But you’ve got to have the workshops on the calendar so you can send your partners a monthly or bi-weekly newsletter that gives them the dates available.

And don’t just ask your referral sources to come – ask them to bring a client with them and to ask afterward if it was a good use of their time. That way you’re getting prospects in the room as well. Or if they aren’t comfortable with that, tell them to come solo the first time, but then bring a client the second time and just have them ask for that client's perspective. No obligation. Soft sell! Or soft “serve.”

FILLING THEM UP

Simple! You funnel people into the workshops at each and every opportunity, not because it’s a sell – because they are going to come to this event and learn things they didn’t even know they didn’t know!

When you are out and about town – at your child’s soccer game, or at school for a back-to-school event, church, etc. – you inevitably get those people who say, “Can I just ask you a real quick question?” That's when you urge them to come to your workshop, because when they see what you teach they won’t believe it. Don’t advise people to come meet with you, and don’t just answer questions – steer them toward a workshop to get the information they need.

When you are doing a Synergy Meeting, you send them to your workshop to get to know you and observe what you have to offer – your retail advertising, your commercial reference workshops. Always push everything to a workshop.

And finally, retail advertising consistently. And as always use your Initial Contact Focuser and have an evaluation to grab that contact information.

If you have any questions and want to talk about your workshops and a strategy to set them in place, up and running, contact Nedra at ncatale@lawyerswithpurpose.com

Roslyn Drotar – Coaching, Consulting & Implementation, Lawyers With Purpose

Your Family, Your Community, and Your Profession

October 2, 2014

by Lawyers With Purpose with No Comment Systems & Processes

Your Family, Your Community, and Your PAs professionals who work with seniors and their families, we're in a unique position to serve our loved ones, our communities, and to help the brave men and women who have served our country as well.

I'm here today to tell you that we really can have it all! A thriving practice with purpose, the seemingly elusive work/life balance, and the satisfaction that comes with knowing that you're doing good for the people around you.

I've prepared a short video for you about how you can achieve the same success in your practice as well…take ninety seconds and check it out. It may be the best thing you do for your practice today!

To your success,

Victoria L. Collier, CELA, Elder Care Attorney, Co-Founder of Lawyers for Wartime Veterans and Lawyers with Purpose, Veteran, author of 47 Secret Veterans Benefits for Seniors and most recent book, Paying for Long Term Care: Financial Help for Wartime Veterans: The VA Aid & Attendance Benefit

The Perfect Effort Is Not A Fiction

October 1, 2014

by Lawyers With Purpose with No Comment Coaching & Implementation Systems & Processes

Fall is on the horizon. This only means one thing: movie theatres are back in the rotation for our potential family outings. Last Monday after school it was an unusually rainy, cold day, so I surprised the kids by picking them up and heading to the movies – one of our favorite, favorite things to do. Our first movie of the new season was “When the Game Stands Tall.” This film is based on the true story of the De La Salle Spartans, a high school football team from northern California. It is a moving plot about a team that didn't lose a game, not one single game, for 12 years from the early '90s to the early 2000s. They ran their record to 151-0. This is not just another movie about football; it tells about a mission to lead boys into manhood and prep them to carry the burdens of the society into which they soon will enter.

The foundation of the movie is Coach Bob Ladouceur’s unique coaching process, which he called “The Perfect Effort.”“Coaching is about human performance and how to get each player to realize their potential through the actualization of their individual talent,” Coach Lad once said. “While winning is important – it is why we play the game and keep score – the emphasis is on ʻthe process,ʼ what each player must do that in aggregate leads to victory. The formula for success in team sports is simple. The implementation of that formula is complex and is the art of human performance.”

“The game stands tall when we display the conduct and actions that not only make our life more productive but also improve our community,” he added movingly.

The Perfect Effort is more about bringing your “A” heart with your “A” game. It is about unwavering perseverance and not being defined by a loss.

Whether it is a football team, an office team, a marketing team, etc., The Perfect Effort process applies wherever you go. The singular success of a 151-0 record was created not because the De La Salle Spartans spent more hours in the gym than any other team. It was not because they fought harder than any other team. The success came from being very clear on what their individual roles were, how to integrate with each member on the team, and the impact of the whole of the process and the team organization – all with integrity and collaboration in mind, never focused on the individual. It was always about The Perfect Effort within the core values of the team first and foremost.

What I love most about movies is how they can deliver powerful messages in 120 minutes that are so relevant to our day-to-day lives. They can break through even if you’ve heard the same messages before, i.e. LWP with our unending stand for embracing of process with a team-centric approach to reaching the goal. Sometimes, most times, it takes a light, fun environment to drive the message across the goal line.

Molly L. Hall, Co-Founder, Lawyers with Purpose, LLC, and author of Don’t Be a Yes Chick: How to Stop Babysitting Your Boss, Transform Your Job and Work with a Dream Team Without Losing Your Sanity or Your Spirit in the Process.

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What Your Team Really Sees

September 30, 2014

by Lawyers With Purpose with No Comment Systems & Processes Team Building

Don’t you just wish your team would tell you what they really see day in and day out on the front lines? The opportunities they see that your firm’s not slowing down enough to make a path and plan for. The new additions, 2 mm shifts and prospective pools they easily witness but are hesitant to create more work for you, and the team, so they let the chances pass.

“Business as usual” will not work anymore…Take control and position your company for the future!

Do you need to find a way to get money in the door? Your phone to ring more? Build your team? Actually finish a project from ideation to completion?

A major outcome of Intentional Planning is enhanced strategic thinking and massive mindset shifts. Some of the things you will walk away with from Thursday October 23rd of the Practice Enhancement Retreat:

Generating of new ideas—ideas that, otherwise, would not be considered.
Going beyond the status quo—beyond one’s competitors.
Bringing new perspectives and approaches together—and combining them in realistic ways.
Identification of critical, high payoff strategies and the prioritization of team efforts accordingly.

Firm Retreats ensure that your Big Ideas and Plans will no longer rest on the shelf or be dependent on solely you as the business owner—teach, show, do, go…grow.

In our experience, it is very difficult (impossible) to carve out time to really work ON the business when the phones are ringing and its business as usual.

Register TODAY as you don’t want to miss out on this strategic planning “Money Plan” day led by Dave Zumpano on Thursday October 23rd at the LWP Practice Enhancement Tri-Annual Practice Enhancement Retreat. Contact Marci Otts at motts@lawyerswithpurpose.com to register TODAY!

More Than Your KOLBE

September 24, 2014

by Lawyers With Purpose with No Comment Coaching & Implementation Team Building

I’m a Fact Finder, which makes it a sure bet that I’m fascinated by all things KOLBE and how a KOLBE A index can predict levels of success in any given position. As a CC&I Implementation Coach, I review KOLBE scores with teams on a regular basis. I’m always particularly interested (and generally amused) when I have a husband and wife working together and review their KOLBEs.

Occasionally I have a business owner tell me that they’ve had to let a team member go, and in several instances, we’ve found that the team member simply did not live up to the expectations the KOLBE index had indicated.

For example, a Client Services Coordinator with a high Follow Through was found to be trashing prospect contact information because she ran short of time to enter the information into the firm database. Her attorney totally depended upon her Follow Through and her sense of integrity to get the job done.

What does it mean when a team member … or an attorney … doesn’t get the job done?

Unfortunately, I’ve been hearing from a number of frustrated attorneys who went on vacation this summer, only to return and find their team had dropped the ball in their absence.

Just to keep the record straight – I’ve also heard from frustrated team members as well.

It was summer. A time when we’d like to slow down just a bit and stop and smell the roses. Play with the kids while they’re out of school, or feel the need to tackle some of those home improvement projects that went left undone when you were so focused on the business.

The good news is the kids are back in school, summer is over, and it’s time to focus on making up for lost time.

The bad news is that this issue may not just be seasonal.

Enter the Strength Finder.

The Strength Finder is an additional tool that can supplement what the KOLBE tells us. It measures 34 different areas to identify and rank your top strengths. The results can be enlightening and life changing.

For example, I discovered that while my KOLBE Follow Through is not incredibly high, my Strength Finder lists one of my top strengths to be “FIXER.” I am literally driven to “FIX” or complete what is incomplete. My “FIXER” strength boosts my unimpressive KOLBE Follow Through.

The Strength Finder, when coupled with the KOLBE and the Language of Appreciation, provide great insight into talents, strengths, willingness and passions.

You can discover your strengths, free of charge – click here. You can discover your Language of Appreciation, free of charge here. The KOLBE A retails for $49.95 (click here) but a $10 discount is currently offered at http://www.kolbe.com/pages/special-partner/jkw/.

I must warn you that using these tools is no substitute for holding each other accountable in your office. One way to “check in” and be held accountable is through the Weekly Team Meeting. A Weekly Team Meeting, led by the Client Services Coordinator, with an agenda that promotes the accountability of each team member in front of the team, including the attorney, is a way to systematically inspect the moving parts that operate your business. Internally publishing notes with dated assignments is also an accountability tool.

If you would like to schedule a team evaluation using the KOLBE A, Strength Finder and Language of Appreciation, please contact me at ncatale@lawyerswithpurpose.com.

There are still a few days left to register for our Practice With Purpose Program in October. If you want to grow your business with Medicaid, VA & Asset Protection by year end, show up! You can see the full agenda and register here.

Nedra Catale – Coaching, Consulting & Implementation, Lawyers With Purpose

Being A Competent Attorney Is Only Half The Battle

September 18, 2014

by David Zumpano with No Comment Asset Protection Estate Planning Drafting Software Legal Marketing Systems & Processes VA

I've always thought of myself as an excellent attorney — well-versed in all of the strategies that we use on a daily basis to protect our clients, their loved ones, and their legacies.

It wasn't until several years ago, however, that I really began to understand that a thriving practice is built on more than just being a great attorney — it requires systems to handle your marketing, to generate a steady flow of referrals to your door, and a tried and true method to increase your closing rate.

I invite you to take 90 seconds and check out the video – it's all about the systems I've put into place in my office, and how you can do the same in yours. Take your practice to the next level!

Click here if you'd like to look at the agenda and all you'll learn at the Lawyers With Purpose Practice With Purpose Program in Phoenix October 20-22nd.

Warmly,

Jeff Bellomo, Esq., Certified Elder Law Attorney, Bellomo & Associates, LLC

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The Price Of The Relationship Management System

September 16, 2014

by Lawyers With Purpose with No Comment Legal Marketing

Have you ever gone to a restaurant where there were no prices on the menu? I’m told that if you have to ask the price, you probably can’t afford to eat there. Really? In my world, I always want to know the price before I commit to anything.

Perhaps this is why I see so many member firms hesitating with implementing a Relationship Management System (“RMS”). It’s possible that we haven’t been clear about the cost of implementing such a system.

It’s 12 hours a week.

That’s right. Six hours from an attorney, and six hours on the administrative side. That covers two RMS meetings a week for the attorney (including travel time), plus the time needed for a couple of phone calls, plus the hourly marketing meeting. A minimum of six hours a week from a Professional Services Coordinator (“PSC”) in which to identify and qualify potential partners, make introductory phone calls, schedule meetings, follow-up after meetings, track results and attend a weekly marketing meeting.

Sounds fairly simple, doesn’t it? And it is! So why do so many members either procrastinate the implementation of an RMS process, or sabotage what they accomplished in the past by not following up?

Let’s look at the minimum requirements for a successful RMS.

Absolute dedication on part of the attorney to 6 hours a week and building this into his/her time template;
Absolute dedication on part of the Professional Services Coordinator to 6 hours a week and building this into his/her time template;
A weekly marketing/RMS meeting that is never hijacked;
A start date 3-4 weeks in the future;
Determine which type of professional your firm should focus on at first – either financial advisors or other law firms that do not practice elder law/estate planning are an excellent starting place;
Identify those professionals within a certain mile radius of your office(s);
Dig a little deeper to determine their credentials and experience;
Create a list (Excel, anyone?) listing their name, company name, credentials, address, phone number, email, assistant’s name and distance from your office. Depending upon the number of professionals you identify, either increase or decrease your radius around your office until you have 20-30 names.
Review the list together and identify any professionals whom you’ve already met or worked with. You will approach them a bit differently. Rank each name according to distance from the office and level of experience or credentials. Someone at the limit of your geographic radius with little experience would receive the lowest ranking.
Starting with your lowest ranking prospects, begin making introductory calls. Suggested scripts can be found on the LWP website if your PSC is inexperienced in making such calls.
Schedule 2 meetings per week on the attorney’s calendar, starting 3-4 weeks into the future and continue until you have scheduled a full month. Thereafter, continue to schedule at least one month out.
Watch the LWP webinar on using the RMS focusers.
Watch the LWP webinar on getting the financial advisors to do their homework.
The attorney should study the Synergy meeting outline and watch the Synergy meeting videos.
The CSC should prepare the introductory materials that the attorney will take to the Synergy meeting.
Follow up … follow up … follow up!

Remember that an RMS process should always be implemented with consistent attention. Starting a process, making promises, and then failing to follow up on those promises will not only damage your firm's reputation but your firm's consistent referral stream as well. We tell attorneys all the time, "You work so hard to get your phone to ring in the first place. You work so hard to get a referral in the door – nurturing and consistent touches to your referral sources are crucial. The key is giving your RMS system dedicated, consistent time."

If you have any questions or would like additional assistance in implementing your own RMS Process, please let me know. You can reach me at ncatale@lawyerswithpurpose.com.

We still have a few spots left for our Practice With Purpose Program October 20nd – 22nd in Phoenix, Arizona. You'll learn all you need to know about Asset Protection, Medicaid & VA in just 2 and 1/2 days! Click here for the full agenda. It will be worth every minute of your time to experience first hand what it's like to be a Lawyers With Purpose member! Hurry, seats are filling quickly!

Nedra Catale – Coaching, Consulting & Implementation, Lawyers With Purpose

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I’m Sick Of Finding Myself Repeating The Same Things & Feeling Unheard

September 15, 2014

by Lawyers With Purpose with No Comment Team Building

I’m sick of repeating the same things over and over to my team! I feel like they don’t know what to do! Sound familiar?

Does your team truly know their role day in and day out? Is it clearly defined? Clearly defining roles must be step one to an engaged employee. Why? Because it helps them plan for the work anticipated and more importantly for the work NOT anticipated. The nature of the beast in most law firms.

If you’re personally experiencing any of the below symptoms register for the 90 minute focus session “You've Defined Roles…Now What?”

Blaming others for the job not getting done
Out of balance workloads
Lack of action because of ineffective communication
A “not sure” so “take no action” attitude
A reactive work environment
Poor morale
Multiple stops needed to find an answer

During our time together we’ll look at each role in the firm and work on a recipe for success owning roles in your practice. To attend the 90 Minute break-out session at the LWP Tri-Annual Practice Enhancement Retreat, “You've Defined Roles…Now What?”

Contact Marci Otts at motts@lawyerswithpurpose.com to reserve your seat. All registration closes September 29^th, 2014.

Balance Your Time – Control Your Practice

August 26, 2014

by Lawyers With Purpose with No Comment Coaching & Implementation Systems & Processes

An elephant balanced on a small ball, a tightrope walker, a ballerina en pointe. I am continuously amazed and impressed by balance. To me it denotes focus, grace, concentration, skill, practice, dedication and a sense of victory. After all, what is balance but a victory over gravity achieved by dedicated hard work?

After 15+ years’ experience as a team member in a number of law firms, and the past eight months as a CC&I coach to several dozen firms, one of the most striking differences I’ve noticed between successful firms and struggling firms …. is balance.

What does that mean?

LWP strongly advocates a 40/40/20 split of firm time, held in place by a time template that is honored. This means the firm spends 40% of its time on specific client-related activities, such as appointments, drafting, reviewing and processing. Anything that has a client name on it goes into the 40% client pot. Notice that I didn’t use the word “prospect.”

Anything done to encourage a prospect or prospects to become clients is allocated to marketing, not including the Vision Meeting or Initial Consultation. The rule of thumb here is for the firm to spend 40% of its time finding prospects, getting its message out, and enrolling clients into workshops (and then into a Vision Meeting) or initial consultations. This includes your weekly marketing meeting, time spent developing and cultivating your RMS process, involvement in community events, development of blogs, your website, newsletters … wherever your firm has decided to invest its resources to attract clients.

The remaining 20% of your firm time template should be reserved for firm administration. This includes your weekly staff meeting, paying bills, filing, bookkeeping, cleaning off your desk, taking out the garbage, and whatever needs to be done to oversee the mechanics of your operation.

A firm that sacrifices or neglects its time template to meet client demands is one that endangers itself and its operation. It’s just that simple.

I’ve had team members argue with me that the restrictions of a time template limit their ability to meet their clients’ needs.

A few days ago I was on a commercial airline and heard again for the zillionth time, the instructions that if an air mask drops down, the passenger should first put on his own air mask, THEN assist others. The underlying message is that you’re not going to be much help to anyone else if you don’t see to your own reserves first.

Firms that do not honor a time template that is balanced with these three disciplines are recognizable by these outcomes. See if any are relevant to your team:

Embarrassing mistakes are made in client documents and handling client matters.
Team members are tired, unorganized and discouraged.
Team members must constantly interrupt each other causing productivity to sharply decline.
Revenue can fluctuate wildly from month to month.
Long-Term goals and projects are not completed or are abandoned.
Weekly staff and marketing meetings are hit and miss, often hijacked by more pressing issues.
The firm operates in high-stress mode, focusing on what is urgent and demanding, often overlooking critical, but less urgent issues.
Your RMS process suffers from neglect and prospective synergy partners lose faith in your firm and its promises.

If your firm is not operating under a firm time template that has an effective 40/40/20 allocation and you would like help in structuring a more efficient environment, drop me a line at ncatale@lawyerswithpurpose.com.

To learn more about Lawyers With Purpose and how we can support you in your estate planning / elder law practice, please join us and experience first hand – in the room – for our Practice With Purpose Program in Phoenix, AZ, October 20-22nd. We only have limited space so click now and register today.

Nedra Catale – Coaching, Consulting & Implementation, Lawyers With Purpose