Product Spotlight: Arken Lifetime

All legal advisors
2 November 2020

We caught up with our Head of Legal Content, Sam Warner, who explains the context behind our latest solution: Arken Lifetime, and its benefits...

Can you tell us a bit more about the thinking behind Arken Lifetime? Where did the idea come from?

Our solutions are all about increasing efficiency - the original idea for Arken Lifetime came from our Legal Advisory Board, made up of highly experienced estate planning professionals who understand all too well the pain points of the industry. We wanted to bring the same efficiencies of the Arken Professional system to the drafting of lifetime trusts to save time, reduce drafting errors and achieve consistency across a private client practice.

What features are included, and why?

The format of Arken Lifetime will be familiar to anyone who has used Arken Professional – it is based on an intelligent, interactive questionnaire which auto-populates information to avoid re-keying and, based on the information inputted, drafts a document based on up-to-date precedents created by an experienced private client solicitor.

The aim is to save time – all of the background information can be inputted by support staff prior to fee earner involvement, freeing lawyers up for more profitable activities. A trust can now be drafted in a matter of minutes using Arken Lifetime. Auto-population also reduces the risk of misspelling and mis-keying, and trust documents will now look just like a user’s estate planning document – allowing for consistency of look, feel and content across a private client practice. Documents are stored in the cloud, allowing a client’s testamentary and trust documentation to be stored in one place for ease of reference and updating.

How long has Arken.legal been working on this new solution?

As with all products, the secret to meeting client need is planning. It became clear that there was industry demand for a trusts suite a couple of years ago, and we consulted widely to understand what the pain points were and how lawyers were drafting their trusts. It became clear that inefficient paper-based precedent libraries were still the norm, and so we set to designing a product to bring trust drafting into the digital era. The product design was completed in-house by our Legal Advisory Board, and our team of in-house developers (many of whom have been with us for over a decade) took the conceptual specification and turned it into a user-friendly, modern product which will streamline trust drafting and give lawyers back the gift of time.

 

If you would like to book a remote demonstration of Arken Lifetime, please select a date and time that suits here*.

*Arken Lifetime is available to Arken Professional users who have the right to create Trust documentation.