Trusts and Estates Magazine

Mondo Times editors    Boulder Colorado USA

Posted at 6:27pm on Monday, January 25th, 2010

January 25, 2010: WealthCounsel and Trusts & Estates magazine today released findings from the 3rd Annual Industry Trends Survey.

Key findings from the survey indicate that the biggest challenge facing practitioners today is getting clients in the door. 40 percent of respondents on average said they experienced an increase in business in 2009, while 35 percent experienced a decline in revenue. 20 percent stated their business was unchanged. Attorneys from the northeast and the southeast regions of the country seemed less impacted by the downturn than other regions.

"Given the fact that 40 percent of respondents saw their business increase through the worst economy since the Great Depression, it is obvious that clients are still planning," said Matthew T. McClintock, JD, CEO of WealthCounsel. "Attorneys who spend time sharpening their skills, building referral networks, and improving operational efficiencies will be better positioned for success in the future than other attorneys," McClintock added.

For the third year in a row, the top three reasons clients plan are to avoid probate, to minimize estate taxes, and to prevent familial problems associated with not having an estate plan. Other findings indicated that 74 percent of clients are aged 50 or older. 67 percent predominantly have clients with a net worth under $2 million, while 33 percent predominantly have clients with a net worth of more than $2 million. The complete report may be downloaded at: http://www.wealthcounsel.com/2009_industry_trends_survey.aspx.

"Inasmuch as the annual Industry Trends Survey is relatively new and in a 'benchmark status,' I expect to see even greater participation in future years as the data collected provides attorneys with actionable intelligence they can use to manage their practices," said Rich Santos, Group Publisher for Trusts & Estates.

Mondo Times editors    Boulder, Colorado USA

Posted at 10:41pm on Sunday, September 27th, 2009

September 23, 2009: WealthCounsel, LLC and the publishers of Trusts & Estates magazine today announced the launch of the 3rd Annual Industry Trends Survey. All practicing estate planning attorneys are invited to participate in the survey which is open through November 2, 2009.

"The Annual Industry Trends Survey is the estate planning industry's only source for collaborative insight on emerging trends, and we are pleased to co-sponsor this year's survey with our partners at Trusts & Estates magazine," said Matt McClintock, Executive Director of WealthCounsel.

The Web-based assessment was initially launched by WealthCounsel in 2007 to monitor and report on developing trends in the industry. Key findings from the 2009 survey will be published in the January 2010 issue of Trusts & Estate magazine, which will have bonus distribution at the 44th Annual Heckerling Institute on Estate Planning in Orlando, FL, January 25-29, 2010.

"By joining together in launching the 3rd Industry Trends Survey, we are able to reach a broader audience and thus capture data that is fully representative of such a diverse industry," said Rich Santos, Group Publisher for Trusts & Estates magazine in New York. "We're excited to be working with WealthCounsel on this initiative and we look forward to releasing the findings in a joint announcement in January 2010.

Trusts & Estates is the monthly journal for estate planning and wealth management professionals. Published since 1904, Trusts & Estates covers the high-net-worth arena. Monthly issues focus on new tax legislation, ethics, investment strategies, financial planning, elder law, charitable giving and financial services.