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 2004
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Report 15
This is our Final Report
from Heckerling 2004. We hope you have enjoyed these
Reports again this year as much as we have enjoyed bringing
them to you. As the Editor, I want to take this occasions
to thank all of our hard working Reporters (whose names are
listed immediately above) for all of their diligent work in
attending so many sessions then staying up late at night or
rising early in the morning in order to submit their reports
to me in writing for final editing and publishing. This effort
would not have been possible without all their help.
Perhaps the most important thing to report now are
the dates for the 39th Annual Heckerling
Institute in 2005. Those dates are January
10 -14, 2005, so mark your calendars now.
Next, here is the final report from the
Exhibit Hall about all the software and other
vendors who were present this year exhibiting their new and
improved products. This report comes to you courtesy of Reporters
Jason Havens Esq., Gene Zuspann Esq. and your's truly:
A. CALCULATION AND DRAFTING SOFTWARE:
1. authoritative.net (http://www.authoritative.net):
Jeff Pickard, creator of zCalc, is in the process of providing
a "one-stop shop" for estate planning attorneys.
His new service, authoritative.net, will not only allow users
to access the zCalc Suite, including the zCalc Toolbox and
Presentations, but will also feature the following: (a)
Document Systems, including an estate planning drafting
system that is being authored by Professor Stanley D. Neeleman
(J. Reuben Clark Law School at Brigham Young University and
formerly a partner at Holme, Roberts & Owen, Denver, Colorado)
and also a business entity formation drafting system, (b)
File Cabinet, a document storage system,
and (c) File Backup, an electronic "vault"
for safe, secure storage of electronic data. More information
is available via the authoritative.net toll-free telephone
number: 888-552-4477. The estate planning drafting system
is allegedly being built on a "next generation"
document automation platform called Oban, but we do not know
much about this platform or how it compares to HotDocs 6.0
at the present time.
2. Brentmark (http://www.brentmark.com):
As previously mentioned, Brentmark will continue to support
EPLAN (TM) (acquired from U.S. Trust). Those
of you who have used EPLAN will recall that it is very robust
and handles most estate planning calculations and illustrations.
Brentmark has future plans to make EPLAN more user-friendly
like other Brentmark products. However, Brentmark will await
the status of potential legislative changes before it embarks
on such development changes. The status of the former US Trust
Form 706 program is not know at this time.
3. WealthTec (R) (http://www.wealthtec.com):
Howard Eisenberg, who works with the zCalc/authoritative.net
folks (who were distributing information sheets at Heckerling
on Howard's behalf), has created several powerful programs
under his WealthTec umbrella. First, Dimensions
(TM) (http://www.wealthtec.com/wealthtec_dimensions.htm) is
used to capture the client's asset and income information.
Second, WealthMaster (TM) (http://www.wealthtec.com/wealthtec_wealthmaster.htm)
can model numerous
estate planning techniques, from A-B trusts to ILITs to numerous
charitable trusts. Third, Foundations (TM)
(http://www.wealthtec.com/wealthtec_foundations.htm) augments
WealthMaster to build highly-sophisticated financial and estate
planning illustrations for affluent clients by comparing up
to three plans side-by-side. All of these programs are included
in the WealthTec one-year subscription at a price of $1,195
(see http://www.wealthtec.com/wealthtec_subscription.htm).
This entitles the user to a one-year license, which must be
renewed in order to continue using the product. Fully-functional
demo versions are available for a free 45-day trial period:
http://www.wealthtec.com/wealthtec_demo.htm.
B. JUST DRAFTING SOFTWARE:
1. EstateDoc Systems (http://www.EstateDocSystems.com):
Brian Albee and EstateDoc Systems have introduced TrustDocs
(TM). TrustDocs is endorsed and has been designed with Steve
Oshins, Esq., a well-known, widely published estate planning
attorney in Las Vegas, Nevada. TrustDocs operates on the HotDocs
platform and is designed to produce an entire revocable living
trusts estate plans, including the trusts, pour-over wills,
and disability planning documents, in one single Microsoft
Word document. Navigation within TrustDocs is very efficient,
using "buttons" to move through each menu-driven
level of the data input phase. Error messages alert the user
if a question has not been answered. Binders and tabs for
presenting the plan to clients are also available, so all
the user has to do is print the entire Word file on hole-punch
paper and then insert the pages and the tabs into the binders.
TrustDocs requires a one-time initial membership fee of $995
for a single firm license (with a 45-day trial period). The
subscription plans are priced at $245 monthly, $698 quarterly
(5% discount), $1,323 semi-annually (10% discount), or $2,499
annually (15% discount). TrustDocs requires HotDocs (R) version
6.1 (or more recent) and Microsoft (R) Word (TM) 2000 (or
more recent).
(ED NOTE: We regret that EstateDoc Systems
was erroneously reported to produce tax preparation software
in Report #7, which is not the case. EstateDoc Systems only
focuses on document production.)
2. WealthDocs by WealthCounsel (http://www.wealthcounsel.com):
WealthCounsel was back at Heckerling for the third year in
a row, this time marketing the latest Version 6 update of
it's HotDocs based document assembly system called WealthDocs.
WealthDocs actually consists of eight separate practice systems,
those being for Wills, Living Trusts, Irrevocable Trusts,
Charitable Planning, Family Limited Partnerships, Split-Interest
Trusts, Special Needs Trusts and Retirement Trusts. This latest
version of WealthDocs is designed to be used with the newest
Version 6.0 of HotDocs, which can be ordered from WealthCounsel
by members at a discount. The cost to join WealthCounsel and
obtain their software and secure access to their Knowledge
Base currently is either $3,900 down plus $390 per month for
12 months or a one-time discounted up-front fee of $7,900
for the first year.
3. Wealth Transfer Planning (WTP) by InterActive
Legal Systems (ILS) (http://www.ilsdocs.com): After reviewing
Wealth Transfer Planning (WTP), we are still impressed by
its language and features. The updated WTP system includes
a joint revocable trust (for use in community and separate
property states), "anti-Strangi" amendments for
FLPs and FLLCs, more charitable trusts than previously offered,
and helpful "Practitioner Concept Memos." Although
WTP is still built on the Smart Words document assembly engine
and word processing system, Mr. Blattmachr commented that
WTP might be offered on a different engine in the not-too-distant
future. Rumor has it that engine could end up being either
HotDocs or Ghost Fill. For those of you who are interested
in subscribing to the current version of WTP, a basic subscription
costs $2,995 for a single seat or $3,595 for a single user
network plus $295 for each additional network user. An enterprise-wide
4 office/30 user subscription is available for $19.995. An
optional premium support package is also available for an
additional cost of $1,295 for a single user and $1,595 for
a network plus $99 per each additional network user.
In addition, ILS has recently announced a new product, called
"Coping with Strangi," in which Jonathan Blattmachr
discusses the recent Strangi II decision, its impact on estate
planning, and strategies to employ to help avoid its impact.
Through a unique multi-media presentation, Mr. Blattmachr
delivers materials that will help you immediately apply his
strategies to your estate planning practice. The Coping with
Strangi module is a two-disk set (DVD video and CD-ROM) and
includes:
· 30-minute substantive lecture by Jonathan Blattmachr
(video on DVD-CD)
· 30-minute PowerPointTM slide presentation recapping
the issues and providing specific recommendations
· Sample notification letter to your clients
· Sample notification letter to your advisors and other
allied professionals
· Sample article for publication in your client newsletter
· Detailed substance outline, with cases and citations
The sample forms are in MS WordTM and Adobe AcrobatTM formats.
In addition, this program has been approved for .5 CLE credit
hours in New York and Florida, and credit is pending in other
states. The product retails for $199.00, but ILS is distributing
a copy free of charge to all Wealth Transfer Planning subscribers
as their our way of thanking them for their business and continued
support.
Lastly, your Editor had an opportunity to have a brief conversation
with Natalie Choate today about the current status of her
DistribuGuide(tm) program that the WTP folks
used to sell when the WTP program was initially affiliated
with and being supported by The Technology Group. She advised
me that she had some discussions with Jonathan about ILS continuing
to produce and support this program for her, but that no final
decisions were ever reached, so she has recently licensed
her employee benefit beneficiary forms to WealthCounsel to
use as part of their WealthDocs Retirement Trusts system.
C. TRUST ACCOUNTING & RELATED ADMINISTRATION SOFTWARE:
1. DataTech SoftWare, Inc. (continued):
As previously mentioned, DataTech's Quick & Easy
(TM) (http://www.quickandeasy.com) (tax preparation) now offers
a complete suite of estate administration tools called Estate.suite
(TM) (http://www.estatesuite.com/). Estate.suite truly combines
estate administration systems into one easy-to-use suite.
The intuitive programming within Estate.suite intuitively
allows you to enter more or less information, depending on
your needs. Users can "drill down" into more detailed
fields or, if more details are not necessary, remain on the
top level. Users can easily create asset accounts, make partial
or final distributions, use multi-value accounting (e.g.,
date-of-death, alternate valuation, current, or other values
for a single asset), create joint ownership assets, and perform
predefined or custom transactions. All of this occurs in a
real-time relational data context. In other words, users do
not need to worry about verifying that a transaction automatically
changed the value of the remaining asset or account. Users
can easily track parties, creditors, and fiduciaries. The
MasterTicklers feature is very handy to remind users when
tasks need to be accomplished and enables tracking of those
ticklers and tasks.
The beauty of Estate.suite is the inclusion of every aspect
of estate administration software: Quick & Easy Heritance
Estate Administration System with Fiduciary Accounting and
Probate, Quick & Easy State-Specific Estate/Inheritance/Probate
Automated Forms, Quick & Easy Federal Estate Automated
Forms (706, 709, and more), and Quick & Easy Federal 1041
Automated Forms. All of these systems can be tracked via the
global reporting tools, which even track user activity within
the Estate.suite system. These reports are exportable to a
variety of formats including PDF, Microsoft (R) Excel (TM),
text, rich text, Microsoft Word, HTML, or XML. For more information,
please contact Crystal Lauver at crystal@thinkdocs.com.
2. EstateWorks (http://www.estateworks.com)
(continued): EstateWorks has made several enhancements to
its web-based estate administration system. A "favorites"
area now allows users to store their bookmarks and create
portals to other sites that he or she uses regularly. You
can also customize team roles, which allows definitions inside
or outside of the law firm context. Notes can be created throughout
the system. Custom tasks can be assigned to individual cases,
which can be tracked via reports. EstateWorks' document management
program has been improved to promote a team-based, collaborative
approach by allowing users to "check out" documents
for use and modification. Templates are also available for
reports, contacts, letters, and tax forms.
D. APPRAISAL & VALUATION SOFTWARE:
(See vendor report
#3b)
E. RESEARCH SOFTWARE & SERVICES:
1. Trusts & Estates Magazine (http://www.trustsandestates.com):
Trusts & Estates magazine announced the introduction
of an on-line archive of the past 10 years of Trusts &
Estates articles at the Heckerling Institute. The on-line
archive will be available to subscribers at the web site above
beginning January 20, 2004. A subscription to Trusts &
Estates, including the on-line archive, is $199. Heckerling
Institute attendees may subscribe for a special rate of $169.
For more information, please contact Liz Airhart at eairhart@primediabusiness.com.
2. LexisNexis (TM) (http://www.lexis.com):
Lexis now offers its own headnotes for cases, organized by
legal topics, as well as three-part case summaries for each
case: Procedural Posture, Overview, and Outcome. Users may
also obtain and print their documents in one submission instead
of proceeding through several steps. Document delivery methods
include dual-column printing, PDF, e-mail attachments, facsimile,
Microsoft Word, Corel WordPerfect, rich text format, and HTML.
Lexis added a very helpful feature that allows users to copy
a highlighted portion of a case and automatically generate
a pinpoint legal citation for that selection, called "Copy
with Cite." Finally, users can save their search histories
for up to 30 days.
F. MISCELLANEOUS VENDORS:
1. Alaska Trust Company (http://www.alaskatrust.com):
The Alaska Trust Company web site contains helpful information
on the numerous estate planning developments in Alaska. One
of the most helpful pages, Section 20. Selected Cases, Rulings
& Commentary, which is available on the left-hand navigation
pane, includes summaries and full-text versions of relevant
cases, rulings, and portions of Practical Drafting
and other resources. Section 16. Sample Trust Documents provides
sample Alaska trusts in Adobe Acrobat or Microsoft Word format.
Those who attended (or wanted to attend) the special session
on domestic asset protection trusts will find this web site
especially informative.
2. Connect2A (http://www.connect2a.com):
Connect2A has just announced that this is your last chance
to take advantage of the low introductory Connect2A monthly
membership fee of $60 per month prior to their first every
price increase on February 1st for their new member monthly
standard membership fee to $70.00 per month (for up to 250
clients for 1 advisor and up to 4 associates). If you are
a member of one of their alliance partners (e.g., WealthCounsel),
new member alliance partnership pricing will also be increasing
on February 1st. If you complete your membership application
by February 1st, they will include their Premium Service,
Custom Connect (tm) at no additional monthly cost (normally
it costs an additional $10 per month) although presumably
the initial implementation fee that usually ranges from $250
to $1,000 still applies.
Well, that's it for Heckerling 2004. We've covered about
all we can cover given our time and energy. If we have missed
something important or something is in need of an errata,
let us know and we will do what we can to add or correct it,
at least in the Reports as they are posted on the RPPT Web
site. See you in 2005.
The Reporters
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The text of these proceedings is also available on CD ROM
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