Law Firms and the Estate Planning Software-Why Law Firms Need Estate Planning Software
There are of course a number of the billing software available out there and as a matter of fact your business is at liberty to choose whichever software it deems fit for it but in reality and actual sense, it will only be best with software that actually do have software with features that are particular to the legal profession or industry. Like it is rather sounding obvious, the generic type of business software will be indeed a great one for working with the generic businesses. However for the law practices and concerns, there is a need for there to be a dedicated billing software as they do have a billing requirement that can only be served by the equally special billing software and system. Matter-based billing is one of the requirements that the specialized billing needs that you will have from the specialized software.
The normal business software is in a position to take care of client billing and as well can deal with the multiple billing models like hourly rates and the flat rates. 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. In this field, issues must of a necessity be separated into separate billing.
Read on for this example that will further expound on the point we are trying to put across for the need for a billing software special to a legal practice. 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. Without a doubt, for the sake of efficiency and professional service to the clients, you will have to have these two cases kept separate. 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”.