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Why Would Clients Pay for a Maintenance Program? Peace of Mind

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Some attorneys dismiss maintenance programs out of hand because they don’t see why clients would participate in them. Don’t think like that. Maintenance programs are very appealing to clients, for two powerful reasons.

First, maintenance program helps ensure that a client’s plan is always up-to-date and capable of accomplishing its goals when the client needs it. By explaining this benefit to your clients, many of them will quickly see the program’s value and the importance of enrolling in it. 

Second, one of the main complaints people have about working with attorneys is the notion that attorneys bill for just about anything, whether it’s an email, a photocopy, or a one-minute phone call. Your clients will appreciate the fact that you will not “nickel and dime” them, and that there will be no unpleasant surprise invoices in their mail boxes.  

By addressing these two issues, a maintenance program provides clients with peace of mind—the same long-term benefit that motivated many of them to want an estate plan in the first place.

So, what services should be included in your plan? You need to offer enough to make the program attractive to clients, but you must also be cognizant of not selling yourself short and offering too many services. We’ll discuss the particulars of an effective maintenance program next time. 

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How to Generate a Consistent Revenue Stream with an Estate Plan Maintenance Program

GettyImages-815165952Generating a consistent, reliable revenue stream is a challenge for many law firms. An annual maintenance program can provide a solution to this problem, and, in effect, function as a line of credit for your firm. 

In the coming weeks, we’ll discuss the elements of a successful program, the benefits of such a program to your clients and to your firm, how your plan can generate additional income beyond what you charge for the program itself, and more.  

At EPLC, we currently have approximately 600 clients enrolled in our various maintenance programs (we’ll talk about how our programs differ from one another in a future email). We charge $650 a year for what we call the TLC™ Estate Plan Maintenance & Fee Guarantee ProgramIf you do the math, you’ll quickly see that this income, which is both continuous and predictable, serves as a line of credit we can draw upon to cover any number of expenses over the course of a year.  

At this point you may be saying, “Well bully for you EPLC, but frankly I don’t know why any client would even want a maintenance program, let alone pay for it.” We’ll talk about that next time.

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Start 2020 Off Right by Kick-Starting Your Maintenance Program

From mid-November through the beginning of January, Lawyers with Purpose members tend to see a decrease of initial contacts, initial meetings, and workshop attendance. The holidays are THE time for your prospects and clients to be thinking about AND discussing their future plans with family, however, not as many do. How can you remedy this? By kicking off your maintenance program!