In America, our lives have been significantly impacted by new health regulations and concerns. For many, finances are in disarray, and the future appears equally volatile.
It has been suggested that many of the changes that we see, such as telecommuting, telehealth, on line shopping and banking and the increased use of technology impacting our lives…these changes were on the horizon…but the future of those changes was radically accelerated.
The changes that were evolving slowly, have arrived with a stunning immediacy.
Our task now is to embrace the change and use the ‘new normal’ to enhance our lives.
We can take back control, by our response to these changes.
1. Accept the change. Things may never return to the ‘old normal’
2. Utilize technology
3. Adapt to the new order
4. Leverage our experience and knowledge
5. Develop new strategies
Interestingly, in my practice of estate planning, the above five responses are particularly effective when formulating a plan for my clients in the current environment.
Accepting change – estate plans are fluid, not a once and done event. Laws change, family circumstances change and the individual estate plan must be altered accordingly. More clients are now aware of the importance of having legal documents in place such as advance directive and wills.
Utilize technology – in general the legal profession has been a bit slow to take on the challenges of technology innovation. Lawyers are a careful and conservative group for the most part. For a legal practice to be successful means keeping in touch with clients as quickly and effectively as possible and that means embracing what technology offers.
Adapt to the new order – there will be revisions to tax codes and changes to law. These can create the need to quickly adapt. Change is inevitable and the wise attorney stays ahead of the curve, whenever possible, to advise clients.
Leverage experience and knowledge – means keeping abreast of what is new and innovative in the development of estate plans and relevant trust documents; attending conferences and seminars; discussing with colleagues; subscribing to professional journals.
Develop new strategies – this can be as simple, in the current crisis, as meeting clients in the open air to sign necessary legal documents or utilizing teleconferencing. Whatever it takes to meet the needs of my clients.
Working To Preserve Your Wealth and Protect Your Future…in a Constantly Changing World
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