Before You Purchase Estate Planning Software, Read this Article

Apr 5, 2017 9:00:00 AM

Before You Purchase Estate Planning Software...Even the best writers fall victim to typos and mistakes. As an estate planning attorney, these can hurt your practice’s reputation and have a number of other consequences. For example, they could also create tax issues for your clients and put you at risk of legal action. If you consistently find errors and typos in your legal documents, it might be time to invest in estate planning software that helps craft critical documents like wills and trusts.

But before you do, there are a few important things to consider. Not all estate planning software is created equally. There are some key characteristics that set the best platforms apart. Here’s what to look for when you’re considering what estate planning software to choose:

Document customization

The best estate planning document drafting solutions offer the capability to customize documents based on term and clause preferences. For example, you can insert a preference to refer to the trustee using “my,” “our” or “the” and automatically populate that term throughout the document, dramatically reducing the odds of making errors.

Dynamic and easy-to-use navigation

Your estate planning software should allow you to choose the type of trust you create, including full or simplified length. Based on your selection, you should then see changes in navigation and language to suit your desired document type. This dynamic navigation streamlines the creation process and sets the appropriate provisions across the document.

The navigation should also be user friendly. Easy-to-navigate software will help your support staff craft complex documents for you, freeing up more time to work directly with clients and share your expertise, or create the work-life balance you’ve been searching for.

Consistent updates

While part of your job is to keep up with changes and nuances in the law, copying and pasting into templates can leave you vulnerable when those changes occur. Any drafting software you consider should build those changes into the platform so you don’t need to worry whether or not your documents are accurate and up to date.

Updated software will boost your confidence in the documents you produce for your clients. Since your clients rely on your expertise, the accuracy of estate planning software can provide peace of mind.

Comprehensive list of documents

Document drafting software should provide access to a comprehensive list of documents, including wills, trusts and client letters. Essential documents to look for within the software include:

  • Wills with tax-sensitive planning
  • Wills without tax-sensitive planning
  • Individual pour over revocable trusts
  • Initial client letters
  • Spousal conflict waivers

Ultimately, estate planning software should enable both you and your support staff to efficiently and accurately craft complex documents. WealthCounsel’s Wealth Docx® meets all of these needs and more. Wealth Counsel’s software allows you to streamline your processes by creating accurate, up-to-date, professional documents. The software is regularly updated to reflect legal and legislative changes, so you won’t have to worry if your documentation is up-to-date and compliant.

Download our sample document list to see the types of interactive documents available to Wealth Docx users, or contact us to request more information or to demo our software. We’d be happy to demonstrate all Wealth Docx® can do for your practice.


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