Small and solo law firms often need to be careful with how they spend money. Unfortunately this sometimes leads to the false economy of never spending money at all, even if more money would be saved in the long run. A perfect example of this is the attorney who says he can’t afford divorce legal software like Divorce Financials. A small investment in a time saving tool will pay for itself many times over.
Faster Divorce Handling = More Clients
Handling divorces can be a lot of work. Gathering information on client financials, calculating property settlements, and reaching fair support agreements take hours out of an attorney’s day. Then documenting the final agreement takes more time. Of course this all gets worse if the divorce ends up in court.
Divorce Financials divorce software for attorneys takes the drudgery out of divorce. Fast data entry simplifies the process of building the case file. Automatic computations make it easy to come to an equitable property settlement. The pension calculator allows lawyers to put a value on retirement funds. The lifestyle analysis tool helps the process of determining spousal or child support that is fair to both parties. All of this information is automatically pulled from the case file to complete any documents printed, so final agreements will be accurate and complete.
Now that divorces take less time, a single lawyer can take on more clients each month and increase the firm’s revenue.
Advanced Tax Optimization
One of the mistakes new and even experienced family law attorneys make is to not consider the tax implications of a divorce settlement. This can lead to a non-optimal situation for both parties. The problem comes from the fact that alimony is taxable while child support is not. Attorneys can use these facts to the advantage of the client by trading one for another. A wealthy client might prefer paying more alimony and less child support for the tax break, while a poorer client could have the opposite desire.
However tax optimization can actually benefit both clients. The ideal mix of alimony and child support has the same money changing hands but more money going to each party’s pocket due to the tax calculations. Divorce Financials includes a tax optimization module that allows attorneys to compare up to five settlements to find which is the best for the client.
Divorce Financials family law software is an investment, not a cost. Increased revenue from more clients, fewer complaints stemming from inaccurate calculations and clients happier with their tax optimized settlements all make for better business.