In the wake of the Autumn Budget and with a new year commencing, the time has come for many to reconsider the way that their estates are structured.
Changes to Inheritance Tax and a desire to keep control of assets will likely see an influx of people revising their Wills ahead of the new tax year.
For small law firms, this is a valuable opportunity that cannot be missed.
The only question is whether small law firms can keep pace.
What is stopping small law firms from keeping pace?
It can sometimes feel like small law firms lack the power and resources to keep pace with the larger firms that draw a larger number of high-wealth clients.
There are often challenges with maintaining a good level of client contact, especially as client lists begin to grow and demands increase.
This can lead to small law firms overinvesting in new staff, only to find that the time is then spent training team members without fully addressing the workflow problems.
This indicates the value of keeping clients happy and while they are likely to be feeling disgruntled by the Autumn Budget, having the time to tend to their needs is more important than ever.
How can small law firms improve their handling of workflows?
To keep pace with client demands and to keep them happy, it is vital that small law firms handle workflows effectively.
While it can seem like a struggle to hit the ground running, a smaller team can be advantageous in terms of the agility and personal touch that can be brought to each client’s work.
One of the biggest hurdles that holds back small law firms is the amount of tedious busywork that goes into handling client cases.
A lot of this work can go unbilled, which further inhibits growth for small firms, as there is less money to invest.
The Autumn Budget has hit many small businesses hard and law firms are likely no exception, so losing revenue can no longer be tolerated.
This is where Smokeball can be used to transform the way that small firms approach work.
Rather than continuing to struggle under the yoke of unruly inboxes and tedious document creation, Smokeball can empower your law firm to get on with the work that really matters.
Many clients are feeling disenfranchised and concerned about the future, so they need additional support and guidance to help them approach estate planning and Will writing.
They need the kind of human touch that small law firms can excel at when they are not forced to see client work as distractions from hours of tedious busywork.
As your law firm grows, our AI, Archie, can summarise client conversations and email chains so that new members of the team can jump into tasks seamlessly without needing extensive briefing.
We are expecting a large amount of estate planning and Will writing in the months ahead and, given the sensitivity of this subject, your clients need to feel supported in this process.
Book a demo to find out how Smokeball can help your small law firm make the most of increased client demands.
