Oregon Estate Planning Blog

Flat fees = win/win

 

But you can see another problem here as well - if your attorney is taking just a few minutes to fill in the blanks on a will form, that's not a "plan." You don't see any counseling going on in the cartoon. You see a client asking for counseling and a lawyer printing a form.

I'll take recess please, not recession!

Did you know that "recess" and "recession" come from the same Latin root word?  So why does one make us want to run around and play tetherball, while the other one makes us want to hoard dried beans and flour and stuff cash in our mattresses?

If we think about recess, it's a break from all the hard work we did in class.  It's a time to get all of our energy out, which quiets the mind and makes it easier to go back into the classroom and do good work.

Recession isn't much different.  Just like our energy levels go in cycles, so does the economy.  We have times of great economic growth, where it is a great idea to work hard doing all of those things that are working to make you grow economically.  But then, we have times of recession, where we need to regroup.  This is a great time to get organized, evaluate your life's direction, and get control over where you want your life and your family's prosperity to go.  This is a time when layoffs force people to start that business they always wanted to start.  It's a time when parents realize that they need to take action to better control where their money goes and how it multiplies.  It's a time for creativity and for trusting that all will be well.

So yeah, we're in a recession.  How are you going to use this time?  Are you going to start a business?  Are you going to get your financial affairs in order?  Act, don't react!

To your family's health & prosperity,

Candice

Flat fee vs. Billable hour

I came across an interesting article about the rise in the use of flat fees in the legal business.  I'm a big believer in implementing flat fees where they can be used, such as in estate planning.  A flat fee system really makes everyone happier.  The client knows what to expect, and the attorney saves time on billing and virtually eliminates disagreements over bills.  Of course, I can't imagine charging flat fees for unpredictable types of legal situations, such as litigation.  But in situations like estate planning, a lawyer has the experience to predict how many hours will be spent on a particular project, and can therefore charge a flat fee.  Be aware, though, that there are many companies out there that sell wills and estate planning kits for ridiculously low prices.  Let me just say that you get what you pay for.  It is far savvier to have an attorney review your individual situation and assets, make a recommendation based on his or her review, and draw up an estate plan that suits your family's individual needs.  You might spend a few thousand dollars now to save much more money in the future.