Estate Planning Earning Potential

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Gainfully Unemployed

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Estate Planning Earning Potential

Postby Gainfully Unemployed » Wed Jun 17, 2015 1:44 pm

A small estate planning firm in my city is looking for an associate, and I have a pretty good shot at getting an interview based on my connections. I'm curious about earning potential in estate planning, particularly with a smaller firm (3-4 attorneys). Estate planning is the firm's sole practice area.

I understand earning potential will depend heavily on location, client base, etc., but I'm just looking for a ballpark. I live in a small city with a high proportion of well-paid professionals if that helps. Anyone have any idea? Is it ridiculous to think estate planning may be a hot field due to the aging boomer generation?

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Re: Estate Planning Earning Potential

Postby Aeon » Thu Jun 18, 2015 10:07 pm

Hard to give even a rough estimate of earnings, because they can vary a lot. However, as a young associate, you may be on a salary initially.

Estate planning is a very people-centered area, so likability is important. It can also be somewhat more sensitive to economic downturns, as potential clients could have less money and look upon their estate plan as an "optional" expense.

Knowing rich people socially (and bringing in their business) definitely helps for moving up in the practice (i.e.: becoming partner).

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Re: Estate Planning Earning Potential

Postby Anonymous User » Thu Jun 18, 2015 10:25 pm

Did a little bit of this in big law. The client interaction is much more diverse than elsewhere. You get some really colorful people, and have to be comfortable dealing with potential family drama. You really get the client's full life story, and may have to double as a non-licensed psychiatrist to please the client. As it's so personal, it seemed as though it would be tough to bring in business from outside your own social circles until you have an established reputation.

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Re: Estate Planning Earning Potential

Postby BiglawAssociate » Fri Jun 19, 2015 9:17 pm

Meet some rich spinster. Date and marry some rich spinster. Write will to benefit self. Seems pretty lucrative to me.

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