Lecture Notes: Estate Plan Signings

Introduction

• Starting: How to book your first estate plan signing
• Need: More notaries to join the session
• Recent Work: Loan signings done, signs of market changes in refinancing
• Current Specialization: Estate plan signings

Value of Estate Plan Signings

• Market Opportunity: 70% of Americans don't have an estate plan
• Personal Experience: Transition from loan signings to estate plan signings
• First Signing: Booked in Q1 2022 via Thumbtack, paid $190
• Business Structure Today: Specializing in estate plan signings, helping attorneys
• Less Competition: Most notaries focus on loan signings, leaving a gap in the estate planning space

Challenges in Loan Signings

• High Competition: Difficult to stand out among many notaries
• Alternative Focus: Estate planning offers less competition and more direct marketing to attorneys

Building Relationships with Attorneys

• Key Contacts: Paralegals and legal assistants
• Importance of Convenience: Offering easy scheduling and reliability to build relationships
• Marketing Strategy: Direct outreach to professionals who need notaries quickly

Marketing Strategies

• Google Business Profile: Essential for visibility
• Thumbtack: Previously used, high competition
• Networking: Building relationships with financial advisors and other professionals
• Referral Partnerships: Establish relationships for mutual referrals
• Email and Cold Calling: Effective but require persistence

Pricing Strategies

• Flat Fees vs By the Signature: Different strategies based on client type and volume
• Upsell Opportunities: Witness services and printing fees

Practical Considerations

• Variety in Scheduling: Attorneys may schedule from immediate needs to weeks in advance
• Handling Private Arrangements: Focus on valid IDs and mutual agreement

Additional Tips

• Personalized Scheduling Links: Make it easy for attorneys to book signings
• After-Hours Services: Charge extra for after-hour notary services
• Creative Pricing: Add-ons for printing, timeliness, and other services to meet state limitations

Resources

• Estate Plan Signing 101 Course: Comprehensive guide for new notaries

Q&A Highlights

• Fiduciary Explanation: Responsibility to act on behalf of another in medical and financial matters
• Marketing Methods: Cold calling vs. networking
• Document Notarization: Handling non-legal documents written by clients

Conclusion

• Encouragement: Start building relationships and generating leads for estate plan signings
• Future Outlook: Combining estate plan and loan signings for diversified income