Law itself is a demanding industry. It requires practitioners to constantly keep abreast with, and adapt to, legislative changes. It demands a keen eye with an attention to detail, as well as the ability to see how strategic plans fit within clients larger estate planning goals. Unlike other businesses, attorneys have strict advertising ethical guidelines to adhere to, hampering their ability to advocate for their services and compete with cheaper do-it-yourself legal solutions.

Despite the worry that the increase in the standard deduction under the Tax Cuts and Jobs Act would negatively impact philanthropic activities, charitable giving has continued to increase since 2018. This suggests that charitable giving is still important to many of your clients. Historically, 30 percent of charitable giving activity takes place during the holidays, so December is the perfect time to help clients incorporate their philanthropic desires into their estate plan.

Income tax rates play an increasingly important role in estate planning strategy as the federal estate tax exemption rises. In the late 1990s, the estate tax exemption applied to many more people than it does today. Today, it applies to only 0.2 percent of estates.