What is Estate Planning Software? Estate Planning Software is used by law firms, attorneys, wealth managers, executors, and individuals in preparing plans and legal documents that address how an individual’s assets will be managed and distributed upon their death or incapacitation. It includes the creation of wills, trusts, and other legal documents such as power-of-attorney, health care proxies, and living wills that identify who can manage your finances and health care while you are still ...
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Estate Planning Software is used by law firms, attorneys, wealth managers, executors, and individuals in preparing plans and legal documents that address how an individual’s assets will be managed and distributed upon their death or incapacitation. It includes the creation of wills, trusts, and other legal documents such as power-of-attorney, health care proxies, and living wills that identify who can manage your finances and health care while you are still living, and the type of life-supporting health care you desire if incapacitated. It can be considered a subset of Law Practice Management Software.
The software facilitates the process of making bequests to heirs, naming executors and beneficiaries, settling estate taxes, making a will, setting up trusts, and planning charitable donations. The software helps support the goals of protecting and preserving assets, limiting taxes, ensuring the desired custodial arrangements for minor children, and setting up funeral arrangements.
Estate Planning charting software is available for legal professionals to better understand and communicate estate planning and related issues to other attorneys, clients, and juries.
Estate Planning Software includes many of the following features.
Consider the following when purchasing Estate Planning Software solutions.
Scope: Estate planning software is often available as part of broader law practice management suites that support other specialties such as litigation, business, personal injury, criminal, immigration, and family law. These suites include additional features such as case management, time tracking, legal billing, and CRM.
Location: States have different laws and processes regarding the handling of estates, ensure that your selection supports the rules for the jurisdiction under which the estate administration and executors will be operating.
Depth: Some packages act as little more than templates and document management systems. These tend to be easier to learn and more flexible, but have less features. Other software may be more in-depth and streamlined, but harder to learn and less flexible. Consider how you want to adapt your current processes to the use of new software before purchasing.
Pricing is driven by the features offered and the number of users ranging from $50 to $150 per month per user. Individual users can make one-time software purchases ranging between $100 to $250. Enterprise scale implementations require obtaining a price quote. Free online forms and free trials are available.
