Fellow Blogosphere Readers: I admit it, I succumbed to the hype and launched a Google Adwords campaign. What is it? Its the "pay per click" that happens when you punch in, for example "San Francisco Estate Planner" and a bunch of names come up on the right-hand side of the page. These spots are auctioned off to bidders who pay each time someone clicks on their ad.
Initially, it worked well in bringing traffic to the site. But here's the problem: there is no pre-existing relationship with anyone affiliated or associated with our firm, so it is a completely anonymous view of us. It commoditizes the particular service advertised, and when your service becomes a commodity, the only remaining determinant between your ounce of gold and someone else's ounce of gold (or whatever commodity) is . . . what?
That's right, price.
So, here, below, is what I guess Google Adwords will generate for me for the foreseeable future as a result of my monthly contract with them. I have redacted personal information so the questioner is anonymous, and combined a fact from another query.
TO: PMyers@TheMyersLawFirm.com; PMyers@TheMyersLawFirm.com
Subject: Form Submission
Importance: High
realname: ______________
Telephone: ______________
email: __________________
Question: I'm wondering what your fee is for a living trust. I am a married woman with separate property. My husband already has one. My only community property asset is my X which I plan to leave my half to my children in trust if I should die first (and allow my husband to live in the house as long as he wants). I have X trusts already pre-determined to be left to my children so I don't need to address them. I want to make sure my personal assets (my X, Y and Z) goes to my children and I want a health directive. What would the fee be for this?
How do you respond to this type of email? I couldn't figure out where to start, so I am going to suggest my readers try to improve upon my draft. This is my draft:
Hello Anonymous:
I cannot quote a fee in a vacuum. If you just need the word processing done, and price is an issue, there are cheaper alternatives than our firm.
Our model is based on clients who want to make sure things happen correctly, and this frankly has nothing to do with the cost of the documents. It has a lot to do with relationships, trust, confidence, and commitment. Yes, at the end of the day, we draft documents that carry out your hopes, fears, dreams and aspirations. To do this correctly, in our experience, requires a time commitment. The time of a quality lawyer or law firm is not inexpensive. That might be obvious, but sometimes I have to say it.
Our rates range from $100 per hour for a paralegal to $375 an hour for my associate to $600 an hour for me. I would not be comfortable drafting your trust and AHCD under the circumstances you describe without reviewing everything else that has been done, because, among other things, these other trusts may have a material impact on what we choose to do, and they may increase or decrease the size of your estate (depending upon how the powers of appointment are drafted, who holds them, whether they are revocable or not, and by whom, among about 100 other possible iterations).
Contrary to some popular opinions out there in the financial community (Suze Orman comes to mind), estate planning actually IS rocket science. There are very few estate plans that are "simple," just as there are very few families that are "simple."
I am sorry I cannot give you more direction.
You may call us to schedule a time to meet if you understand and appreciate the wisdom of our model.
Thanks, in advance,
-Peter
OK, readers, was I polite? Did I express the concepts well? How much longer do I give Google Adwords before I conclude increased internet-source client volume is not such a good idea?
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Posted by: Opeds | May 24, 2012 at 10:20 AM