For estate planning attorneys
Packages quoted up front, signed, and paid at signing
Estate planning is sold as a package: a will, a trust document, powers of attorney, priced as one flat fee and paid around the signing meeting. Clients decide on the price before the work starts, so a clear estimate does most of the selling. Couples often decide together over several days, so the estimate needs to be easy to forward and come back to.
The billing problems estate planning attorneys actually have
Clients want the package price in writing before they commit.
Send an estimate that lists every document in the package; the client approves it from the link.
Half the fee is due at engagement and half at signing.
Invoice the first half when the estimate is approved and the second half on the signing day, each with its own payment page.
Annual review clients are forgotten until they call.
A recurring invoice raises the review fee each year on its date, so the review is not left until the client calls.
A worked invoice
Sample work, priced the way this work is usually priced. The total is computed with the same function the console bills with.
| Line | Qty | Price | Amount |
|---|---|---|---|
| Revocable living trust, joint | 1 | $1,750.00 | $1,750.00 |
| Pour-over wills, two | 2 | $250.00 | $500.00 |
| Durable powers of attorney and health care directives | 1 | $450.00 | $450.00 |
| Total | $2,700.00 | ||
Sample figures. The first half was invoiced at engagement; this invoice is the balance due at signing.
Questions
Can the estimate become the invoice?
Yes. An approved estimate is turned into an invoice with the same lines.
Can I bill an annual review automatically?
Yes. A recurring invoice bills the review fee every year on the date you set.
Can two clients share one invoice?
Yes. Bill the couple as one client, with both names on the invoice.
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