Estate Settlement & Planning Workflow

Every area of legal practice has its own operational challenges, and Trust and Estates is no exception.

Estate Planning and Estate Settlement are both highly structured disciplines, but in each case the work is often poorly served by generic legal practice management software or ad hoc operational processes because the operating model needs to reflect the priorities of the work being performed.

The challenge is to create an operating model that gives the team confidence that each matter is receiving the attention it requires.

Estate Settlement: Managing Long-Running, Event-Driven Work

Estate settlement is a long-running, event-driven operational process.

A single matter may remain active for several years while progressing through probate, tax filings, asset collection, creditor notifications, distributions and final accounting. Different team members become involved at different stages, and many activities can proceed in parallel.

Unlike many other areas of legal practice, the work cannot simply be managed against a fixed schedule.

Some activities are triggered by statutory deadlines. Others depend on events within the matter itself, such as the appointment of a personal representative, the notification of beneficiaries or the completion of earlier tasks. The operating model must accommodate both.

Settlement matters also accumulate a significant amount of operational information. Assets and liabilities must be accounted for, beneficiaries and fiduciaries coordinated, professional advisers engaged, and clients guided through what is often an unfamiliar process.

Operational confidence depends on maintaining a shared understanding of the current state of every matter throughout its lifecycle.

Without that shared understanding, teams spend increasing amounts of time creating operational visibility through meetings, emails, status updates and operational conversations simply to reassure themselves that everything remains on track.

Estate Planning: Managing Predictable Throughput

Unlike estate settlement, most planning matters follow a relatively consistent sequence of activities: meeting the client, developing recommendations, preparing documents, executing the plan and completing any follow-up work.

The operational priority is not managing long-running complexity. It is maintaining predictable throughput while preserving professional judgement.

High-performing planning practices aim to deliver consistently excellent client outcomes through a repeatable operational process while allowing attorneys the flexibility to develop planning solutions that reflect each client's individual circumstances.

Although most planning matters are completed within weeks or months, the firm's responsibilities do not necessarily end when the documents are signed. Long-term operational responsibilities can include:

• Ongoing trust administration — such as administering Crummey notices for ILITs and other continuing fiduciary obligations.

• Changes in legislation - identifying planning strategies that may need to be reviewed as laws evolve.

• Changes within the firm - ensuring planning documents remain appropriate when attorneys retire, leave the firm or no longer fulfil fiduciary roles.

Operational confidence therefore depends not only on delivering today's work efficiently, but also on maintaining visibility of tomorrow's responsibilities.

Operational Confidence Should Be Systematic

Whether an organization focuses on Estate Planning, Estate Settlement or both, the objective is the same: to create an operating model that reflects the priorities of the work being performed and gives the team confidence that every matter is receiving the attention it requires.

Exceptional people will always be essential, but they should spend their time applying professional judgement to advancing matters—not remembering, coordinating and tracking the operation.

Your people should be running the system—not being the system.

EstateWorks provides an operational platform that supports both Estate Planning and Estate Settlement while allowing each discipline to operate according to its own priorities.

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Why Trust & Estates Operations Are Different

Estate Settlement: Managing Long-Running, Event-Driven Work

Estate Planning: Managing Predictable Throughput

Operational Confidence Should Be Systematic

More Trust and Estates Workflow Resources

When People Become the System, the Operating Model has Failed.

A Checklist is not an Operating Model

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