If a Client is uncertain whether to attend a Client Meeting or use the Clover Law Documentation Service, Clover Law offers a free teleconference (of up to 20 minutes) with the Client to explain the purpose and benefits of a Complete Succession Plan and the "One Page, One Policy Strategy".

Initial Client Meetings and Teleconferences

Click here to read what happens at a Client Meeting or Teleconference.

Note:

Clover Law is a commercial legal practice, not a Licensed Financial Adviser.

As a result, Clover Law may not give Financial Product Advice with respect to the Insurance Policies or the premium cost of the Policies.

This advice must be obtained from a Licensed Financial Adviser.

Duration of Meeting or Teleconference

Most Meetings or Teleconferences last between 90 minutes and two hours, depending on the number and complexity of issues raised by the Business.

This is sufficient to deal with the requirements of most Businesses.

Information Required at Meeting or Teleconference

The Client and Adviser should bring to the Meeting as much information about the Business Structure and the Liabilities of the Business as possible.

This information would normally include:

details of the Lives Insured and any Related Parties (e.g., spouses, Family Companies and Family Trusts) who own any of the Equity in the Business;
the exact number of shares or units that have to be sold (not just the percentage);
details of the Borrower and Lender with respect to any debts that the Business wishes to insure.

Additional Support After Meeting

Clover Law makes allowance in the Fee for an additional one hour of telephone or email advice to the Business or the Adviser with respect to the content of the draft Succession Plan, the Statement of Advice, the Questionnaire and the Procedure.

Post-Meeting Procedure

Click here to read what happens after a Client Meeting or Teleconference.

Additional Fact-Finding

It is not always possible to complete all of the details of the Business Structure and Liabilities of the Business in the Client Meeting or Teleconference.

Examples of information that might not be available are:

details of any Family Trusts or other Related Parties that own any of the Equity in the Business;
the exact number of shares or units that have to be sold (not just the percentage);
details of the Borrower and Lender with respect to any debts that the Business wishes to insure.

Clover Law will identify any additional information not collected in the Meeting in the draft Questionnaire or Worksheets prepared by Clover Law.

Clover Law will also identify any information that the parties might not have been certain about.

Additional Fact-Finding Fee

The standard Documentation Fees assume that the Business or Adviser will supply any additional information about the Business Structure and Liabilities of the Business in the completed Questionnaire.

If the information is not supplied in the Questionnaire, there will be an additional Legal Fee of $440 to collect the information from the Business or its Advisers, review it and incorporate it into the Succession Plan and Documentation.

Draft Questionnaire

Clients and Advisers should email the draft completed Questionnaire to Clover Law before formally submitting it, so that Clover Law can advise what additional information still needs to be supplied.

This will usually avoid the need for the Fact-Finding Fee.

Initial Client Meeting and Advice Fee (Standard)

The Meeting and Advice Fee is normally:

$990 for a Meeting; or
$550 for a Teleconference .

This Fee must be paid before the Meeting, Teleconference or Advice.

If the Business proceeds with an Agreement, this Fee will be credited against the Fixed Fee for a Business Insurance Trust Agreement or a Self-Ownership Business Succession Agreement.

Standard Hourly Rates

The standard rate charged by Clover Law outside the scope of a standard Fixed Fee is $440 per hour.

This Fee will apply to any additional services (e.g., , Meetings, Advice or Drafting) outside the framework of the Initial Client Meeting and Advice Fee.

Clover Law will usually quote a Fixed Fee for any services supplied outside the scope of the standard Fixed Fee.

This may include Meetings, Advice and Travel Time.

Travel and Accommodation

Clover Law may also charge travel and accommodation costs required to meet the needs of the Business.

Adviser Tip

Clover Law makes allowance in the Fee for an additional one hour of telephone or email advice to the Business or the Adviser with respect to the content of the draft Succession Plan, the Statement of Advice, the Questionnaire and the Procedure.

See more Adviser Tips

Please contact us to arrange a meeting or teleconference.