Law Firms and the Estate Planning Software-Why Law Firms Need Estate Planning Software
You know it and it is a fact that your business actually can select from a number of the billing software available in the market though in reality for the best of the systems, it is important for you to ensure that you have those software that are special to the legal industry to have the best of the services of the software. It is important that you have indeed in mind the fact that generic business software will work perfectly for generic business. If you are a law practitioner then you will require a billing system that is equally specialized in its nature to the billing of such practice for it is only such that have the ability to deal with the billing needs of the law practices and concerns. Matter-based billing is one of the requirements that the specialized billing needs that you will have from the specialized software.
You will have the common business software handle the business client billing and the other kinds of billing needs such as hourly rates and the flat rates for billing. The reason why these kinds of packages may not be ideal for an attorney’s practice in the sense that they will target the billing needs classing the needs according to the clients and not as per the assignment handled. Under the legal profession the lawyer must of course categorize the matters into separate billings.
Take this example of a case to highlight this point further. Let us have a person by the hypothetical name Tim Parker filing for a divorce case which you are to help them get through with. Look at the complexities arising in the case where this same person, bearing the same name, having your very company to not only deal with the divorce case but as well deal with the issues of their will, getting it updated to reflect the facts of the dissolved marriage. Your firm accepts the divorce case is agreed on at an hourly rate with a retainer guarantee and for the will updating services, you agree to charge fees at a flat rate. You need to be very careful to notice that these two cases need to be treated separately. This need to have separate accounts and systems for the billing of the same client for separate cases is so particular considering a situation such as you may experience where you find that the case of helping them with the need for estate planning which you agreed to charge on a flat rate ending up in the end incurring additional expenses which will call on you to bill the client and you may not be so professional taking the charges or bills from the retainer you hold for the divorce case.
In trying t be crafty with the operations, a lawyer may think it possible to create a general time and billing software which may not actually cure the problem for it may in essence end up mixing up things, such as trying to set up each matter as separate client like in our hypothetical character, having a “Tim Parker Will” file, and “Tim Parker Divorce”.