ORLANDO WORLD CENTER MARRIOTT, Fla., Jan. 15 /PRNewswire/ -- WealthCounsel, LLC announced today from the exhibit hall of the 42nd Annual Heckerling Institute on Estate Planning the results of its 2007 WealthCounsel(R) Industry Trends Survey in a report entitled "A Look Inside the Estate Planning Industry." The survey was designed to identify the challenges confronting today's estate planning professionals and to obtain a sense for the estate planning needs of American consumers. Approximately 5,000 estate planning attorneys were invited to participate in the survey during November 2007. The results of the groundbreaking initiative captured feedback from nearly 500 estate planning attorneys throughout the country on topics ranging from future trends that they anticipate in the industry, to client net worth and psychographics, to the trade publications they read. Respondents for the most part were seasoned practitioners with substantial estate planning and legal expertise. Seventy-five percent of respondents indicated they have practiced law for more than 11 years, and fifty-five percent have specialized in the estate planning field for more than 11 years. "We believe the results of this assessment will provide practitioners, the media, businesses, and consumers with valuable insight into the field of estate planning," said Laura Wilson, executive director of WealthCounsel, LLC. "We are grateful to the respondents who shared their experiences with us -- especially the hundreds of WealthCounsel member-attorneys throughout the nation," Wilson added. Wilson explained that legal and financial professionals engaged in estate planning will find that the survey provides actionable intelligence as they develop or expand their business. Consumers will learn what factors motivated others to develop an estate plan, and will gain a clearer understanding of why having an estate plan is important for adults of all ages and income levels. Several statistics from the report indicate that 94% of practitioners believe that estate planning is an interdisciplinary function requiring collaboration among the attorney, CPA, and financial professional; 93% believe that baby boomers will create a greater demand for services; 73% volunteer with non-profits or civic organizations; 60% said their clients engage in estate planning to avoid probate; while 40% said clients want to keep their children from mismanaging their inherited assets. An electronic copy of the 16-page report may be downloaded as a PDF at the following link: http://www.wealthcounsel.com/WealthCounsel_2007_Industry_Trends_Survey.pdf. Copies will also be available at the WealthCounsel exhibit booth at Heckerling (Booth 214), or by sending an email to email@example.com. About WealthCounsel(R) WealthCounsel(R) is a registered trademark of WealthCounsel, LLC, a membership-based organization of more than 1,000 law firms, and a leading provider of tools and intelligence to the nation's estate planning community. The company, which celebrated its tenth anniversary in June 2007, is known for its Five-Star Practice Solution(TM), a unique blend of the WealthDocs(TM) document drafting software, collaborative community of practitioners, discussion forums, relevant CLE, and practice building resources. WealthCounsel shares ownership in two sister companies, ElderCounsel, LLC, and the Advisors Forum, LLC. For more information, visit http://www.wealthcounsel.com.
SOURCE WealthCounsel, LLC