Consider Your Own Estate Planning Practice

Now that it seems BigLaw firms have cut their estateplanning practices, solo and small firms are picking up the slack.  With the demand for estate planning servicesrising now that baby boomer retirement is cresting, here are a few steps youshould take if you’re thinking of starting or expanding an estate planningpractice.

First, get educated. Instead of relying on your bar exam outline, educate yourself by buyingpractice guides or finding some at your local library.  You can also learn a lot, and knock out thoseCLE requirements, by attending the various all-day seminars promising to teachyou everything you need to know.  Onceyou get the basics down, remember to continue educating yourself.  One way is to maintain a blog, which willallow you to research new practice issues on a continuous basis.

Next, consider online marketing by setting up your ownwebsite and blog or hiring a website to handle this task for you.  Also, realize the importance of word-of-mouthmarketing in the estate planning field as referrals will likely make up themajority of your clients.  And speakingof referrals, try to network with good financial planners, CPAs, or lifeinsurance salespersons, because referring them clients may result in futurereciprocity. 

See WilliamPeacock, Esq., Estate Planning: The Next‘Growth’ Practice Area for Small Firms?, FindLaw, July 17, 2013.