Explaining the highly technical concepts of estate planning to clients can be challenging. But making sure clients understand the estate plan you're proposing and implementing, and the risks involved, can be just as important as coming up with the plan itself. Failure to communicate effectively can lead to misunderstandings, unhappy clients, and lawsuits, while effective communication can help build lasting client relationships, which are critical to your firm's success. To improve your communication skills, be sure to read “arranging a meeting of the minds”, p. 16, by Marvin E. Blum and Austin B. Light. Their article offers some tips, like using plain English (no legalese) and stories, to get your points across to your customers.

In addition to communicating effectively with clients, you need to hire and train associates to share the workload and help your firm grow. But how do co-workers view working at your firm? In “Estate Planning Associates Share Their Stories,” p. 28, we hear from the associates themselves about their experiences.

Rounding out our Modern Practice Committee report are articles on the benefits and challenges of using artificial intelligence in your practice and getting from Cornwell Entertainment, Inc. c. Anchin, Block & Anchin, LLPa recent court decision finding that an accounting firm had committed malpractice.

This month's issue also includes our Valuations Committee report, with articles on avoiding bias in valuations, valuing large blocks of shares, valuation pronouncements in Irrelevant and qualified assessor lessons from Hoenscheid's estate.