In the ever-evolving legal practice landscape, technology has reshaped the way lawyers work.
However, in the midst of this rapid transformation, one critical area is often overlooked: private client work. So far.
Recent global events and the shift in client expectations have served as a catalyst for radical change in private client law. Traditionally characterized by face-to-face meetings and paper correspondence, the provision of private client services is now undergoing a digital revolution.
Today's clients, most of whom are in the final stages of life, are increasingly diverse and demanding more sophisticated solutions. As the 45+ age group transitions to the 55+ age group, expectations for a digital-first service will increase. Law firms must adapt, offering a range of services from traditional to fully digital journeys.
But it's not just about meeting current expectations. The future requires more agility and insight. Executors, who are now younger and more tech-savvy, expect a seamless digital experience when administering estates or probate.
Furthermore, societal shifts in perceptions and behaviours, coupled with the rise of digital assets such as cryptocurrencies, pose new challenges. Without proper succession planning, valuable assets can be overlooked, putting attorneys and beneficiaries at risk.
The solution lies in a paradigm shift towards a “trusted advisor” model. Law firms should leverage technology to provide comprehensive life planning services, collaborating with IFAs, accountants, and other professionals to provide comprehensive advice. By creating robust processes and leveraging best-in-class technology, companies can easily navigate the complexities of modern estate planning.
Our primer delves into these challenges and offers actionable strategies for success in the digital age. From understanding the evolving needs of modern families to leveraging technology for seamless property management, we provide a roadmap to success.
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This article was submitted for publication by LEAP Estates As part of their advertising agreement with Today's Wills and Probate. The opinions expressed in this article are those of the author and not those of Today's Wills and Commandments.
