Review of Estate Planning Systems — 2006

Estate and financial planning software is designed to eliminate some of the
unpredictability from life’s financial ups and downs. With proper planning,
your client should be able to anticipate and plan for many different events,
both expected and unexpected. Of course, the unexpected is always the most difficult
aspect of any plan, but even those events can at least be insured so that they
minimize the negative impact on your client’s other goals.

The products reviewed here are targeted at a number of different audiences,
so you want to be careful to look beyond the star ratings provided. Some of
the packages reviewed are designed from a lawyer’s perspective, some from
a general accounting practitioner’s perspective, and still others from
a financial product sales perspective. Most importantly, you need a tool that
fits your needs and your practice. Although these are very powerful tools, I
was also struck by the fact that in order to make effective use of their capabilities,
the practitioner will no doubt need a thorough understanding of many legal and
tax issues that are so important to a properly executed plan.

Each review takes into consideration six areas that are important when deciding
on a package that best suits your needs and practice: Comprehensiveness,
Reliability & Ease of Use; Calculations;
Customization, Flexibility & Features;
Client Presentation Tools; Company History,
Support & Help; and Relative Value. Given
the complexity of this product category in general, it is difficult to do these
topics justice in a limited space. You’ll certainly want to do additional
detailed research regarding specific features that you may be looking for in
your area of specialty. Each company’s website provides a wealth of information,
as well as demo products.

Hopefully, these reviews will give you a good starting point and orientation
for selecting a package that meets your planning needs. 

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