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Price vs. Value: Unraveling the Misconception of "You Get What You Pay For"

We use phrases such as “You get what you pay for," or “It’s expensive, so it must be worth it," to justify paying high prices for everything from coffee to cars, and even more so when it comes to legal expenses. High price must mean high value, right? Not exactly.

Let me fill you in on a little secret. Price is what you pay. Value is what you get.

The reason some companies are able to offer legal services at substantially lower rates is because those companies, thanks to technology and familiarity, have streamlined the services. What takes one company/law firm 4+ hours to complete, another company can do in less than two. This is where experience matters.

Legal Paraprofessionals (LPs) and Certified Legal Document Preparers (CLDPs) are licensed legal professionals who gained licensure through a combination of education and experience. The professionals who attain these licenses typically have more than ten years of legal experience working behind the scenes of the legal field before they pursue their license to practice independently. This is why LPs and CLDPs are able to provide top notch legal services at a fraction of the price you would expect to pay an attorney. The lower cost offered by LPs and CLDPs is not a result of a lack of knowledge but is actually a reflection of the years of hands-on training (not taught in law school).

That's not to say you will never need an attorney. It's important to note that while LPs and CLDPs can provide valuable services, there are limitations to their roles. LPs and CLDPs may be utilized for basic legal services (estate planning, simple probates, non-contested divorces, deed transfers, etc.); however, when the matters become complicated or volatile, that is when you may prefer to hire an attorney who specializes in the area of law in which you seek assistance.

Think of legal services similar to the medical field. A nurse practitioner may be able to evaluate you much quicker than a family physician and likely offers lower fees. You may prefer to meet with a nurse practitioner for a medical assessment, diagnoses, and medications, but you would never consult with a nurse practitioner for brain surgery. Likewise, you would not see a cardiologist or OB/GYN for brain surgery because, while they may be experts in their field of medicine, they are not experts in brain surgery.

The legal field is no different. When you have a complex legal matter, you want to retain an attorney who is an expert in that field of law, not one who dabbles in a little bit of everything.

The team at Glover Court Solutions & Estate Planning is happy to offer FREE, no obligation consultations, reviews of your current estate plans, and case evaluations; and while, we cannot give legal advice, we can provide general legal information to help you navigate your legal matters. We also network with dozens of qualified attorneys throughout the Valley whom we would be happy to refer you to in the unlikely event we are unable to help.

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