Solving Estate planning for Advisers
Eliminate estate planning risk for your practice and generate revenue with Australia's most comprehensive estate planning platform.
Provide essential client facing estate planning services under your brand with the backing of our AI Legal bots and a panel of nationwide lawyers. Our framework caters for your entire client base.
Why advisers and accountants should provide estate planning services
Estate planning risk is a significant and persistent challenge for wealth creators and managers. Currently, 52% of clients still do not have a valid estate plan, which exposes practices to increased risk. Failing to address the estate planning needs of your clients creates a liability risk. Much like insurance, safeguarding the best interests of long-term clients requires a holistic approach to estate planning. This approach is essential to protect against future litigation and to retain funds under management (FUM).
The Great Wealth Transfer is upon us, with $6.2 trillion in assets set to change hands over the next two decades. This shift underscores the urgency and the opportunity for comprehensive estate planning in the foreseeable future. Safeguard the value of your practice when clients are either incapacitated or pass away.
How Inherit Australia Solves This Problem
Engage with your clients using essential estate planning tools to provoke awareness of their needs. Clients use the estate plan health check and load and maintain their estate planning documents and information via the Life Vault.
Facilitate and assist clients with holistic estate planning, thereby creating a new revenue stream for your practice.
Earn a seat at the probate table as the holder of the client estate planning data and the custodian of family wealth.
Estate Planning Client Services
We provide comprehensive estate planning services to ensure your clients are fully prepared for the future. From Life Vault data storage to personalised legal advice from a panel of verified, experienced estate planning lawyers that you can select.
Life Vault
Securely store, manage, and control all your estate planning documents, personal records, contact details, passwords, and documentation in one place. Life Vault is a solution for a seamless transfer of information to executors and attorneys.
Estate Health check
Planning for the future can be overwhelming, but it doesn't have to be. Whether you're unsure if you need a will or if your estate plan is complete, our Free Estate Planning Health Check can help you get the clarity you need
Power of Attorney
An enduring power of attorney is a legal document that allows you to appoint someone, known as your attorney, to make decisions on your behalf.
Estate Planning
Start a holistic estate planning process with our advisers or directly with our estate planning lawyers.
Estate Planning Facilitation
Facilitating a client's estate plan as a trusted adviser aligns with your core business of caring for your client's needs and building their wealth into the future.
You have been actively involved with accumulating or protecting your client's wealth. However, without a structured process, there is the risk that estate or non-estate assets are not effectively managed or distributed, leading to legal risk.
Approximately 50% of Australians presently pass away without a valid estate plan. This means that, on average, half of your practice FUM is under estate planning risk.
Inherit Australia provides an optimised estate planning solution for both you and your clients. Powered by proprietary technology and backed by a panel of approved lawyers, our platform enables you to cater to your clients' needs without taking legal advice risks.
Estate planning facilitation creates a new revenue stream for your practice. Inherit provides the flexibility to choose your level of engagement, from hands-on involvement to express referrals. The revenue structure fits your practice with options such as percentage-based fees, fixed fees, or the inclusion of the service within your annual fee charged to clients.
Eliminate legal advice risk
Legal advice risk is a concern for practices providing estate planning services. Advisers do not have the skillset or qualifications of a lawyer, and their insurance does not cover estate planning.
Inherit Australia addresses this concern on two fronts. Firstly, our AI expert system guides you through estate planning conversations with your clients while avoiding questions that prompt legal advice. It is like a virtual lawyer, prompting you to ask appropriate questions without giving legal advice. Secondly, we provide access to our extensive panel of lawyers who can support you and your clients throughout the process. With Inherit, you can confidently offer estate planning services without providing legal advice or having any knowledge or experience in holding estate planning conversations with your clients.
35 years of legal knowledge and experience gathered into a proprietary narrative-based legal bot.
Invite clients online or use support staff to interview clients.
Identifies past relationships, relationship conflicts, and beneficiary vulnerabilities with special needs.
Assists advisers and their staff in navigating and asking relevant and necessary questions.
Controls the conversation and does not provide legal advice.
Non-estate assets held in trusts, companies and SMSFs are identified and allocated to financial entities.
Deals with client family background, assets, and testamentary wishes while identifying gaps and issues in clients' affairs.
Caters to clients with simple affairs and more complex clients with assets held in multiple entities or offshore.
System keeps evolving as lawyers and referral partners provide feedback and narratives to cater for their clients.
API Integration
Data gathering is a crucial feature of estate planning. Data entry is prone to human error, and data transfer from clients to advisers and lawyers is cumbersome and costly. Inherit Australia Estate Planning Bots are programmed to collect and organise essential client information efficiently. It minimises time and effort spent on data entry and ensures that all necessary details and documents are captured accurately. By automating data collection, our bots significantly reduce the risk of inaccuracies or omissions in estate planning documents.
Our integration partners
Streamline your Estate Planning
Estate planning is a client-facing business process that demands efficient workflow management and tracking. Inherit Australia enables you to delegate tasks within your practice to lawyers and clients. Built-in follow-up emails and SMS facilitate a fully automated follow-up. Internally, advisers delegate tasks usually carried out by themselves to support staff or vice versa.
The Inherit workflow enhances efficiency in estate planning, increasing the overall practice value.
Compliance and Security
We understand the importance of privacy and data security. Our platform is designed with stringent security measures to ensure that client data is protected and that the process aligns with legal regulations. In 2023, Inherit Australia was certified by Xero to hold sensitive client data as mandated by ASIC and the ATO. The platform is undergoing an annual security evaluation and ongoing monitoring built into the systems.
All access to Inherit Australia is with Multiple Factor Authentication (MFA), and all our servers and data are stored in Australia.
Packages and pricing
Essentials
For starting up, single operators or a small client base
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200 Life Vault Client Accounts
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Estate plan health check (unlimited)
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10% Discount on EPOA**
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2 Estate plans per month
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Unlimited business users
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Link-based integration
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Branding $350 (one-off)
From $250 AUD/month*
Intermediate
Operating practice with multiple planners with growing client base
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500 Life Vault Client Accounts
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Estate plan health check (unlimited)
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25% Discount on EPOA**
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5 Estate plans per month
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Unlimited business users
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On-site integration (script)
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Branding (included)
From $550 AUD/month*
Advanced
For high volume practices with large client base
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1500 Life Vault Client Accounts
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Estate plan health check (unlimited)
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50% Discount on EPOA**
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10 Estate plans per month
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Unlimited business users
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Project-based integration
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Branding (included)
From $950 AUD/month*
OR
* All prices in AUD and EX GST
Paid annually or add 10% for monthly
payments
** EPOA packages include:
Enduring Power of Attorney (all states),
Medical Power of attorney (Vic),
Appointment of Enduring Guardian (NSW),
Advance Care Directive (SA),
SMSF Power of Attorney (all states).
Corporate and Super funds
Contact our team to discuss volume packages
Book a demo
Book our local team to discuss how we can optimise your estate planning process. Call 03 5976 6565 or book a time below.