How Estate Planning Lawyers Beat DIY and Online Will Options

For estate planning lawyers who pour their heart and soul into developing an estate planning service that is comprehensive, client-led and backed by serious expertise, it can be seriously demoralising when potential clients do not appreciate the value you can deliver and think that a will from the Post Office Will Kit or online will provider (or heaven forbid, ChatGPT) is an appropriate substitute.

If you have read one too many community Facebook group posts flooded with the general public recommending Safewill or a Post Office Will Kit, then this post is for you.

I was recently at the Post Office dropping off some of our welcome boxes for new TT Precedent Club members. The gentleman in front of me walked up to the counter and asked, "Can I get one of those Will Kits, please?"

He was perhaps my father's age, and I felt he was genuinely trying to be responsible and get his affairs sorted. He had clearly taken the initiative to address his estate planning, and despite every cell in my body urging me to jump on the counter and deliver a sermon about the pitfalls of DIY wills, I did not want to undermine his effort.

My nosiness got the better of me, however, and I simply said, "By the way, if you have any superannuation, ensure that you sort out your super nominations as well because this kit will not cover them. You also really need an Enduring Power of Attorney in case you lose capacity and require someone to act for you on medical and financial decisions."

He responded with surprise, "Oh, really?" It actually ended up being a productive conversation (I hope). He subsequently walked out, perhaps regretting his $15 purchase.

One cannot blame a consumer for thinking that a Post Office Will Kit and other low-cost online DIY will kits are viable options.

Historically, estate planning lawyers as a whole have delivered a very lacklustre marketing campaign about the value of comprehensive estate planning and there is a significant amount of misinformation and lack of awareness in the general community. I feel a great deal of empathy for consumers who do not realise that what they are purchasing is not a comprehensive estate plan and are lulled into a false sense of security.

As estate planning lawyers, how do we effectively compete against low-cost DIY will options, including Post Office Will Kits and online web templates?

Who is your Target Client?

The people who are going to go to an online provider and the post office for their wills are generally not going to be your ideal clients.

In estate planning, we can learn a lot from utilising the marketing concept called "Ideal Customer Avatar (ICA)" to help us develop a fictional profile of the characteristics and qualities of your most profitable and enjoyable clients.

Determining your ICA doesn’t mean that you cannot serve people who fall outside your ICA, but it can help you stay focused on crafting your communication, pricing and offers so they are attractive to your most profitable client demographic.

After developing your ICA, it may be helpful to ask yourself:

• Would an online or DIY service meet the estate planning needs of your ICA?

• Does your ICA want a ‘do it yourself’ solution or a more bespoke service?

If the answer to both of those questions reveals that your ICA would not be interested in an online or DIY low-cost solution, then you can put your mind at ease and stop worrying about what is happening in the DIY segment of the market.

Your energy and attention are better spent elsewhere, for instance focusing on:

• Refining your marketing efforts to best reach your ICA.

• Tightening your communication to better appeal to your ICA.

• Levelling up your communication and your marketing to differentiate your services and show how much more value you can add to the estate planning process over and above DIY online will providers and will kits.

• Incorporating a vetting process for prospective clients into your marketing funnel and workflow.

For example, if your ICA would benefit from accessing the advantages of testamentary discretionary trusts, you can focus your marketing and client communication on the benefits of testamentary trusts, and making it easier for your ICA to understand how a testamentary trust could work for their family.

Online will providers and post office wills do not provide testamentary trusts, so it is a simple way to differentiate the value of your services to show that they are comparing apples to oranges.

Remember why customers are coming to you

These days, you can practically buy a will for free through the online will providers. Every major holiday they are promoting their services at a discount (competing with them truly is a race to the bottom), and at certain times of the year I have even seen the will providers promote their wills for free! (Remember – if something is free, then your data is the product!).

According to the 2017 report titled “Estate planning in Australia” conducted by researchers from Charles Sturt University and The University of Adelaide, less than 25% of Australians have an up-to-date will in place.

If people can get their will for free, then why doesn’t 100% of the population have a will?

The reality is that there is so much that goes into that decision to embark on getting your estate planning sorted.

Potential clients need to see something more than a cheap price to motivate them to take action on their estate plan. It is not just the price point that affects whether a person will make their will - there is the ongoing burden of life admin, difficult emotions like shame and hurt, fear of jinxing themselves, uncertainty about how to make the right decision and the challenges of coordinating multiple professionals (and the list goes on…).

When you compare the work that goes into preparing an estate plan by an online will provider compared to an estate planning lawyer, you can see that the services are barely comparable:

Strategies to help you stand out

Here are some strategies to make sure your service is clearly distinguished from DIY online will providers and will kits:

1. Focus on Communication
At The Art of Estate Planning, we have a number of resources available (please attribute us when using them), to help with your communication. One of our resources shows how to tell if the estate planning firm or provider is legitimate, and these questions are asked:

• Can they prepare your Enduring Power of Attorney?
• Can they look at your superannuation strategy and help you with the necessary forms?
• Do they have the capability to draft a testamentary trust? Even if you do not need one, could they explain why you do not need one?
• Do they offer a customised meeting to discuss your particular concerns and provide tailored recommendations?

Educational resources can be shared on your website and social channels to help clients understand the complexity of quality estate planning.

By understanding the complexity of quality estate planning, clients can confidently assess the high-calibre legal service their unique circumstances demand.

Blog posts, social media posts and videos, and newsletters focusing on how you can add value over and above an online will provider will slowly but surely educate your prospective and ideal clients on why it is worth investing in your services compared to an online will provider.

2. Focus on Referrals
Another option is to consider how you are sourcing your prospective client leads.

Forming strategic referral relationships with financial advisers and accountants who understand and value the importance of your service means prospective clients are already educated about the importance of a comprehensive estate planning solution and sold on the value you deliver.

Consider investing in actively fostering relationships with financial advisers and accountants as part of your marketing plan.

The Future is Bright

My main message that I hope to leave you with is that a huge proportion of the population does not have their estate planning sorted, and there is enough work out there for all estate planning lawyers.

Ignore what the online will providers are doing, focus on your ideal clients and own your position in the market.

You do not have to compete with the online and DIY will market, and you are not serving anyone by trying to compete with them.

There are so many Australians who need your expertise and guidance, and they are able and willing to pay for your services. It is up to us to own our value, shout it from the rooftops, informing and teaching the general public about how your service is valuable.