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| Trust Plus and TrusTerminator | |
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With the release of Trust Plus Version 15.1, Cowles Legal Systems continues to improve its already outstanding estate planning practice system. Aimed at attorneys who do a fair amount of estate planning work, the Cowles products give you everything you need to start and run an estate planning practice. Together with the online resource materials, the product is so complete it verges on being an estate planning franchise in a box. The system (and the online member forum) includes materials for business planning, marketing, client communications and more. The software itself generates all of the core estate planning documents you will need for most clients — revocable living trusts, irrevocable trusts, wills and all the typical ancillary documents. The TrusTerminator program is available as an add-on or as a standalone package, and it carries the all-inclusive approach to post-mortem services. You could purchase the Cowles systems and open an estate planning business without relying on any other materials or software (except for a word processor and calendar). I don’t recommend this approach, but it’s enough to get you up and running without additional assistance. The philosophy behind the two products is the same approach described in the American Bar Association publication, “The Effective Estate Planning Practice,” by the company’s founder, Colleen Cowles. The goal is to create a “client-centered” practice. Attorneys devote all their time to meeting with clients and making legal decisions. The rest of the administrative work is delegated to a staff member. That is the true genius of the Cowles system. Traditionally, the task of drafting the trust was considered more legal than administrative in nature. By creating comprehensive checklists for drafting tasks, the Cowles system allows the attorney to do the legal work by checking a box or circling an option in a list. In practice, it works well. The Trust Plus package results in the creation of a product delivered to the client in a single meeting. On the other hand, TrusTerminator embodies a process involving dozens (if not hundreds) of documents created over the course of several months. The Trust Plus checklist is used once and isn’t needed again, while the TrusTerminator checklist is more of a workbook that is referred to several times over the course of representation. On the Trust Plus side, you use a 20-page checklist keyed to the particular type of document you are creating. Prior to the initial consultation, the client fills out an eight-page questionnaire outlining basic family information, assets and planning goals. Then, at the initial consultation, the attorney completes the checklist by circling the desired options. When the checklist is completed, you can hand it to an assistant for data entry. Twenty to 30 minutes later, the plan and accompanying documents are loaded in the word processor, ready for printing. The only downside is some of the more esoteric planning options and custom drafting require hands-on custom drafting by the attorney. With TrusTerminator, the checklist is divided into a number of steps to be completed by a clerk with minimum attorney supervision. The process starts with an intake sheet and a checklist, just like Trust Plus. All the details of the trust are entered into the system — trustees, beneficiaries, assets and so forth. From there, the attorney selects, alone or in bulk, which documents and paragraphs he or she wants, and the clerk can prepare them quickly and easily. For example, I generated a pre-appointment letter to a client advising him what to bring to the initial meeting; generated authorizations to retain appraisers and accountants, and release confidential information to professionals and beneficiaries; drafted letters to the court, postmaster and IRS; created Form SS-4 and Form 56 with cover letters; and drafted separate letters to every beneficiary and all retained professionals advising them of their duties and the details of the trust. The entire process took me 16 minutes, complete with data entry. Since Version 11.0, (see “Trust in Trust Plus,” August/September 2002, Law Office Computing), Cowles added a number of helpful features. One is the Cowles Customizer, which allows you to alter the language of any phrase or clause in the form documents (as well as create your own). It now has a “snoop” feature that makes it easier to find the particular section you want to change. Since Cowles’ goal is to streamline your practice, the “franchise” approach carries over to every aspect. The easiest way to use the package is to use Cowles’ marketing materials and binders. The more you are willing to adopt the Cowles approach and purchase materials from them, the more useful the software will be. For anyone new to estate planning or old timers struggling to find an efficient system, there are few products on the market that will give you as much guidance, structure and capability as Cowles does. |
Cowles Legal Systems Inc. Price: Trust Plus, $3,990; TrusTerminator, $2,990; Cowles Complete, $4,990. Each includes three station licenses. Single station licenses are available at reduced rates. Windows 98/ME/NT 4.0/2000/XP Reviewed by David Hiersekorn, who is
awaiting admission to the California Bar and expects to open an estate
planning practice in Orange County, Calif. He can be reached at
hiersekorn@ PROS CONS VERDICT |
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