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Tax
Issues- in the event of a tax audit most prepaid legal services
will provide legal representation that can cover all or part of
consultations, advice, representation at proceedings, trials as well as
certain follow up procedures.
Additional
Coverage- some prepaid legal services provide legal benefits and
coverage specific to certain other areas, such as business owners,
school districts, law officers, truck drivers, self-employed
individuals, home office workers, etc.
Additional
Discounts- for items that are not covered under the prepaid legal
plan, many prepaid legal services offer a flat percentage discount on
any service above and beyond what is included in the plan. There may
be a retainer required for such services.
How
to choose the best prepaid legal service for you
For many people, the first question they ask themselves whether such a
service makes sense for them at all. Naturally, the answer depends on
the individual's personal situation, such as the types of activities
they are involved in, the likelihood of needing provided legal
services, the desired 'peace of mind', and so on.
One of the biggest reasons, millions of people subscribe to prepaid
legal services is because the legal costs are spread out over a period
of time. If something requiring legal advice or representation comes
up, the covered benefit is already paid for, so monthly budgeting is
easier than having to unexpectedly come up with money that has not
been budgeted. Prepaid legal service can be thought of in the same
manner that we think of insurance in this respect - we might call it a
legal insurance. Also, many people like having a legal resource
available at all times without having to worry about getting a bill
for $200 for a few minutes of phone time with an attorney.
If
you do think that a prepaid legal service might make sense for you and
you'd like to find out more, the best advice is to research and
compare. The old axiom that "the devil is in the details"
definitely applies here. Like any insurance policy, make sure you
understand EXACTLY what is and is not covered. Some coverages discussed here do not take effect immediately (just like a
pre-existing condition for health insurance), and some may
have important exclusions. Find out what the cancellation policy is
and if there are any term commitments. Understanding the coverages and
exclusions will not only help you compare among prepaid legal
providers, but it can also help determine if prepaid legal in general
makes sense for you.
As
you are doing your research among prepaid legal services, one of the
things you should consider strongly is the length of time a provider
has been in business and what the reputation of that company is.
Companies that continue to offer a valuable service generally survive
over time, so longevity should be a key component of your decision.
Since prepaid legal services are provided by a network of attorneys
and law firms who have elected to participate in the network, the
number of customers/subscribers of a given prepaid legal service will
give you an indication of the extent of the network of attorneys and
law firms that participate in that specific prepaid legal plan.
In
conclusion, we hope you have found the information we have put
together for you useful. We recognize that this guide was in no way comprehensive,
and that there is more to a prepaid legal service than what is
included here. We encourage you to use this information as a starting
point and to begin your search by visiting our sponsors- these are
among the best prepaid legal companies in the industry.
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