Texas Counselors Creating Badass Businesses
Weekly doses of strategy and advice for mental health professionals building a practice the smart way. Non-Texans welcome!
Kate Walker, Ph.D. LPC, LMFT from #counselorsdontquit Blog and Kate Walker Training You Tube Channel reveals all of her practice and practice side-hustle strategies, clinical techniques, and killer marketing tips and tricks so you can be ahead of the curve with your mental health practice. Discover how you can create a mental health practice that works for YOU so you can have the time and freedom to do what you love, whether it's traveling the world, or attending your nephew's volleyball game.
Since 2007, she's been co-supporting her family (along with her amazing husband) with her counseling practice achievebalance.org and counselor education company Kate Walker Training LLC. Dr. Kate openly shares wins, losses, and all the lessons in between with the Texas Counselors Creating Badass Businesses Community.
Author of My Next Steps: Create a Counseling Career You'll Love, researcher, speaker, and professor of counselor education, Kate helps you learn about positioning yourself as your community's expert resource, marketing, building HIPAA compliant scalable systems and outsourcing, content creation, podcasting, search engine optimization, niche development, social media strategies, how to get more clients, creating online courses, becoming a clinical supervisor, and productivity tips so that you create something amazing without burning yourself out.
It's a mix of interviews, special co-hosts and solo shows from Dr. Kate you're not going to want to miss. Hit subscribe, and get ready to change your life.
Texas Counselors Creating Badass Businesses
101 Why Every Counselor Needs a Professional Will: Insights from Dr. Dawn Brunkenhoefer
What happens to your practice when life takes an unexpected turn? This episode features Dr. Dawn Brankenhofer, bringing her extensive expertise to shed light on the crucial need for a professional will. From safeguarding client records to ensuring business continuity, Dr. Brankenhofer explains the practical, legal, and ethical reasons behind this often-overlooked aspect of professional practice. She even provides a free template to help you get started, making this conversation an essential listen for anyone in private or group practice.
Dr. Brankenhofer shares invaluable insights on what makes a professional will effective. Learn how to compile all necessary license information, designate professional executors, and include essential contacts, such as attorneys. Drawing from personal anecdotes and practical scenarios, she emphasizes the importance of preparing for any eventuality. With Dr. Brankenhofer's guidance, you'll understand why choosing multiple professional executors and maintaining thorough business documentation are key to minimizing disruptions and stress in the face of unforeseen events.
Navigating the complexities of appointing a professional executor and managing your practice can be daunting. Dr. Brankenhofer delves into the nuances of selecting the right person for the job, the roles of attorneys and significant others, and managing your practice's legal and administrative tasks effectively. Learn how to securely manage passwords, document critical practice information, and handle client communications posthumously. Whether you're considering the continuity of your practice or its eventual closure, Dr. Brankenhofer's expert advice will ensure you're well-prepared, safeguarding the future of your practice and peace of mind.
Get your step by step guide to private practice. Because you are too important to lose to not knowing the rules, going broke, burning out, and giving up. #counselorsdontquit.
All right, I hit the record button. I'm so excited. I love this person you're going to hear from tonight. I have traveled all over the world with the person you're going to hear from tonight. Dr Dawn Brankenhofer does so many things. She is an instructor, does so many things. She is an instructor, she is a private practice owner and she operates the practice class which offers and I'm not going to call them just any kind of retreat. These are adventure retreats. They're fascinating. You go to cool, amazing places. We saw baby humpback whales like right after they were born and you can get CEs. So I'm always seeing threads about you know, I want to have a CE face-to-face in beautiful places. This is the woman to talk to and, don't worry, at the end she's going to give me information for how to contact her, but that's not what we're talking about tonight, is it?
Speaker 1:Dawn. So welcome, I'll turn it over to you. I made you co-host and okay awesome thanks.
Speaker 2:So it's a lot of information. So I'm going to jump right in there. I love talking about professional will. I have presented on this multiple times, so I had the powerpoint ready. I actually was just getting ready to take my son to a pizza place when I realized I had a jump on, so I'm glad I didn't forget.
Speaker 2:But a professional will is so important and, as Dr Kate Walker said, I do a lot of adventure travel and so it's especially important for me that my practice is protected. But it's something that we all need to be doing. It's an ethical obligation that we have to protect not only our practice but our clients, our client records, and to protect our business. So today I'm going to run through why the professional will is important, and I also have a template that I'm going to share with you. I sent it to kate and uh we. It's a free template. You can use it to plug in all of your information. I try to make it as easy as I could for you guys. If you're not able to type with type within the template, you can at least print it off, fill it out and and leave it for someone. So let's get started. I'm going to share my screen here and sorry, oh, there's some notes. Can y'all see that? Okay? So I'm going to talk to you a little bit about the why.
Speaker 2:So we need a professional will because it has very practical legal and ethical purposes. It prevents a lot of confusion by outlining a really clear plan. The idea is that if I die or something happens to me and I'm incapacitated, my professional executor can pick this will up and they have everything they need to run my business. And so your professional will is just like all of the other systems that you have in your practice that allow someone to come in and run your business without you being there. So ideally, you have everything in that that someone needs. In that that someone needs, it also allows your professional executor to handle your clients, to handle your ex-clients, current clients but it leaves them better protected.
Speaker 2:And so we also want to talk about when we all I mean, it's something we don't like to talk about, but we're all in line to die. And I say this and it's to be funny, but it's really true you just don't know if you're going to die a gerbil death or a regular, normal death. Right, I don't know if you've had gerbils, but my son told me, mom gerbils never die a normal death, and this is true. Sometimes. We've heard stories of colleagues who have gone on vacation out of state or internationally and have had heart attacks. We've heard stories of colleagues and I'll talk about a few other stories in a minute that are in other states and are detained, and detained for a long period of time. So it's not just with death, but most often we need to have it in place in case something happens to us.
Speaker 2:So I had a friend who had a stroke and she was ended up in a nursing home and could not manage her practice, and so she did not have a professional will. Several of us had to get together and try to come put our heads together with how to protect your business. So the professional will is important for a lot of reasons. I'm going to tell you what needs to go in your professional will. So there are certain components that need to be present in your professional will according to the code of ethics, right, and then their professional will is especially important for group practice owners. I don't know how many of you are group practice owners, but I'm happy to talk to you a little bit about that and how I've used it. Running a group practice, I require the professional will as part of an employee or 1099 spot employee file. It's just something that's required upfront, like everything else. I ask for the professional will. I also don't. I don't. I tell them don't assume that because I'm the practice owner, that I am your professional executor. So we'll talk a little bit about that too. Just because you're a business owner doesn't mean you're the professional executor for everyone in your business. So the professional will is a legal document. It's considered a legal document. It names a person to handle your professional practice and your clients in case of your death or your incapacity or your incapacity. It gives authority to whoever you list in your professional will as your professional executor to make all decisions regarding your business. So I probably will say this again but your professional executor is not the same person that you're going to list in your professional and your personal will and testimony. So my professional executor is a friend of mine. She's a therapist and a professor and probably one of the most ethical people I know and I've known her for 25 years. She is listed as my professional executor, but someone else is listed as my executor in my personal estate and both of these people are listed in my professional will. Why? Because I want my professional executor to communicate with the person that's handling my personal will and I'll talk a little bit more about that, how you can loop them in with your attorneys as well.
Speaker 2:But your professional executor will have the authority to make decisions and to take action to settle your business. It will be in writing. So if your professional executor goes to the bank, they may or may not have a death certificate for you, but they will have this in writing. I get mine notarized, but they will have this in writing. I get my notarized, but they will have this in writing and notarized that hey, yes, this person can handle my affairs.
Speaker 2:Your professional will contains all the information that they need to settle your business. It does not supersede your personal will and testament, so don't think that this is going to cover your peaches on the personal side. So this is just for your business, okay, and it provides a clear plan so that everybody knows who's in the way. I even put in my will who I do not want my professional will, who I do not want associated with my business in case of my death. And that's very important and I'll tell you why. So just a few like how your professional will protects you.
Speaker 2:These are the main reasons why you need a professional will. It protects you, your records, so we are ethically required to protect our records, even in the case of our death. So we're ethically required to notify our clients of record keeping in our informed consent right. So in your informed consent, you're not just saying where their records are now, but in case of your death or incapacity, your executor is in charge of your records. And your records are still protected and still held confidential. So your professional executor still has to follow all of the guidelines that you would in protecting client records. So your informed consent is going to establish that plan of the custody and control of your client's records in the case of your death or incapacity or the termination of your license. So most professional wills will say in the case of my death, incapacity or the termination of my licensee or counseling practice. So if my practice were to be stopped, it would at least have in the informed consent where your clients can go to get a copy of their records. So this is a TAC guideline, it's 681E8 and it's in the ACA Code of Ethics. I am happy to send you all that if you need it. But we are ethically required to list that in the informed consent the custody and control of client records. So your professional executor is required to follow the same guidelines that you are, so to keep all records for seven years or seven years past the age of majority right, and so it also provides you the ability to provide continuity of care. So it also provides you the ability to provide continuity of care.
Speaker 2:So the fact that you're gone is already going to be traumatizing to your clients. The last thing you want to do is have your clients calling around trying to figure out where you were, because they heard or saw something on social media that maybe something happened to you, Right? So in your professional will, you're going to state how you want your professional executor to communicate to your clients. So how do you want a note hung on the door? Do you want them to call them all personally? Do you want a voice message? Do you want a message put on your website that stays up there and, if so, for how long? Like your professional will is going to outline all of that and how they will be communicated with. So for continuity of care, it communicates your desires and helps your team and your executor move very quickly in protecting and taking care of your patients or your clients.
Speaker 2:It also protects your assets, your personal assets. So hopefully you have your LLC or PLLC. That in of itself protects your personal assets, right? But the professional will move things along so quickly for your professional executor to manage your finances that there's less likely there's less room for you to be sued, that there's less likely there's less room for you to be sued. So imagine that your clients can't find you. They don't know where you are. They have a lot of questions. So they start thinking, well, I didn't pay that. Or they start disputing finances, or maybe they owe you money.
Speaker 2:My professional will and I strongly suggest that yours does too states that even if I die, I want you to collect the money owed to me. I want you to collect the money owed to my business because that money can be used to settle my debts. It can be used to, you know, go to my family. It could be used in whatever way that I outline in my professional will. But it protects your assets in your business by allowing your professional executor to manage your finances immediately, and it significantly reduces your chances of being sued. It also minimizes a lot of rumors, so you don't want the rumor mill starting among other therapists and clients about your incapacity.
Speaker 2:So your professional executor can go in and quickly communicate with the people that you designate in your will as far as like what your condition is. It also allows your executor to communicate with all your third parties that are involved in your business. So think about all the third parties that you have. I mean you have probably way more than you think? A housekeeper, a bookkeeper yeah, I mean, there's so many A landlord, you can have a lawn guy or a woman, but your professional will will allow your executor to immediately talk to them and to close out any accounts that they need to. So your professional will communicates with the community and minimizes rumors and it allows them to go in and handle all third parties. I always attach business agreements with my professional will. So if you have BAAs with those third parties, you want to make sure that you keep a copy of those with your professional will. If you have questions about that, you can put it in the chat. I'm not looking at the chat right now, but I can answer them when I'm done.
Speaker 1:Yeah, I'll grab that.
Speaker 2:Don't worry. Okay, so what could really happen in terms of, like meeting your professional will? I mean, obviously you can die, we are, we're all going to die. We just don't know when. Some people are, you know, given time to like prepare or maybe have a terminal illness. Other people may not.
Speaker 2:So it allows us to also cover us in case of illness or hospitalization. So COVID was a huge eye-opener, right. A lot of people ended up sick. I know for me, when COVID first happened, I was so afraid to go to the hospital. I was like, just I don't want to go to the hospital because you're hearing about people going in, not being around loved ones, not even being able to communicate what they needed. So illnesses like COVID are an issue for us to consider, also hospitalization. So again, I had a friend, barbara. She suffered a massive stroke, which I say is from stress that we all hold, but she suffered a massive stroke and wasn't able to ever return to her practice, and so there are times when we may be in the hospital for an extended amount of time. In the hospital for an extended amount of time. My rule of thumb is like if you're in the hospital for more than a week or two weeks? How long do you want to be in the hospital before you ask your professional executor to communicate with your clients and that professional will allow them to do that?
Speaker 2:Also, incarceration. So I had another friend she's a Thera friend. He would do mission trips and a couple times a year and she was in South America and was detained. So she was held, they were arrested, she was held and incarcerated. This country had sent like letters and stuff to her family to try to extort money. But she's home now. But she was there and she didn't have a professional will. So everybody kind of scrambled like what do we tell her clients? She had a full caseload of clients. So if that were to happen, what do you want your clients to know? Do you want your professional executor to say well, don was off traveling in South America and got arrested and detained and we don't know when she's coming back and we don't know what the charge is? I mean, how much do you want them to share with your clients? So that's something to think about.
Speaker 2:The other thing is natural disasters. So where I'm in Texas I'm assuming most of you are I mean we had Katrina that a lot of people had to pick up and leave Houston and their practice we had. For me, I was I was an executive with Hill Country MHDD. At the time, we had the Wimberley floods. We had the 2015 Wimberley floods, which were where it was huge. It was devastating. So a lot of my friends that have practices in Wimberley and along Santa Marcos they lost their practices or lost their locations. You know people in other areas like Rockport or Gerald with tornadoes, so there are natural disasters that can happen.
Speaker 2:The professional will allows you to. Just. It's one document. You pick it up, you move right. Hopefully your records are all electronic, but with that document you can set up your business from anywhere you need to and then get back to your office when you can.
Speaker 2:Okay, so what goes in your professional will? So let me see how I am on time. These are the things that you have to have in your professional will. I recommend you have your professional will. I'm going to pull up the template in a second and we're going to go through the template step by step. You can take notes and write some of this information down and then plug it in the template if you don't have it. However, you want to do that, but you want to list all of your license information. That's including NPI, ein, caqh, your state license number, your supervisor numbers, license number, your supervisor numbers For those of you like Kate, you have OVC, lmft, like whatever. If you have different license, you want to make sure that they're all listed in your professional will.
Speaker 2:You also want to list the name of your professional executor. Okay, I'm going to take a minute to talk about this. I have two professional executors. I recommend the bigger your business is, the more you need to list, and here's why your professional executor can say, yeah, yeah, dawn, I'll totally be your professional executor. And then you die and they're like, oh no, I'm not doing that. I mean, hopefully your professional executor will help you out, but you never know after you're gone how much they're willing to take on. So listing two professional executors helps because they can work together or if one of them backs out, the other one can step in and take over. Ok, especially if you have a group practice, I highly recommend that you have more than one listed.
Speaker 2:You're also going to list your attorneys. So on this section, I would say, if you don't have an attorney, there's a box I have on the template where you check. I do not have an attorney. Feel free to contact one of these. You can list possible attorneys, like you know all the names. We know Amanda Ellis or Kendra Dowling or you know whoever you want to list. But if you have an attorney, you want to list them on your template here. So for me, I have a personal attorney, I have a professional attorney and then if you have a copyright attorney or if you have, however many attorneys you have and for whatever you need. So I have an attorney that I use for like anything that has to do with liability. With my clinical license, I also have an attorney retain that I use that, just like red lines, all of my documents. So that attorney he has all of my documents, but I list all of them on my professional will so that they can communicate.
Speaker 2:You also want to list your liability insurance. Now this is really important and I hope you write this down Put in your professional will that your professional executor needs to contact your liability insurance and request a reporting extension and request a reporting extension as soon as they know that you're dead or that you're incapacitated. If you're not returning, they need to contact CPH or HPSO, whoever you have, and request a reporting extension and the reason that this is important is it extends that reporting a little bit longer and the insurance company will tell you how much that is and put in your will. It's okay to expend that money on extending that because it just allows some coverage of your business and to extend past the date of expiration. If it happens to come on sooner, like, let's say, I pass away and then the expiration of my insurance is that month and my professional executor doesn't know that. It just allows them to extend on the reporting.
Speaker 2:Okay, you also want to add all your passwords. Where's your calendar? Where do you keep your client files? Are you using simple practice Theraness? What are you using? Who do you use for billing? If you don't use anyone, what are you using for billing your financial records? All client communications we'll talk about in a second. How do you want them communicated with?
Speaker 2:For me, I do not want my professional executor meeting face-to-face with my clients. I feel like a letter, a phone call. All of the electronic communication that you may need is suffice and referrals. But the reason I do that is, I feel for me, if I'm your professional executor, I don't want to do that because then I have to document the session, I have to somehow add it to their chart. I still can't close it out. And then I got to follow all the rules for terminating that. Closing that chart and discharging it just leaves me kind of open. So I don't ask my professional executor to do that. Also, you want to list any third party payers, any business associates, your digital footprint and any compensation you want your professional executor to make for doing all this for you, and you can cap that in your professional will. You can cap Okay, I have to stop sharing here, sorry. And so that I can share this, here we go and don everybody's getting this right.
Speaker 1:You gave this to me. I can pass this along yes, everybody that attended.
Speaker 2:yes, okay, I'm trying to. I can't get to my extend button up here because I can't. Hi, can you see the template? No, I'm sorry, hold on Trying to make this bigger.
Speaker 3:I can't.
Speaker 2:I can't move this bar at the top.
Speaker 1:I mean I'll open it and see what I can do on my end.
Speaker 3:OK.
Speaker 2:Here Can you see it small, the small version of it. Small version of it. Okay, this is the professional will. So you're going to state your name in the professional will and these are. You're going to list who has copies of your professional will. So for me, I list that my personal attorney has a copy of my professional will. I list that my husband has a copy of my professional will and our files at home and that my professional executor has a copy of this professional will.
Speaker 2:So whoever has a copy that way in case they can't find it, they have another source to go get that from. Then you're going to list that. Your state license number. You're going to list where your board if you want, you could even list the website and the phone number, which I recommend. All of the information, as much information that you can put into this, the better. And then your individual NPI number. Some of you may not have the CAQH NPI number because you're private pay and that's okay. You would just say NA. And then your tax ID number.
Speaker 2:It's very important to list your tax ID number For me. I list my personal tax ID number and my group practice tax ID number. I list my NPI 1 and my NPI 2. So if you own a group practice, make sure that you're listing both of those. You're going to list the name of your professional executor and I highly recommend listing more than one if you can, depending on the size of your practice and their email address, their phone number. You could even list their home address.
Speaker 2:None of that's going to be in your informed consent For me. I just put the name of my professional executor, I do not put all of their personal information, and then this statement is important in the event that they are unavailable, my secondary professional executor is, and that's where you would list it here. Now, this statement you want to keep in your professional will, and it is that you hereby grant your professional executor full authority to one act on your behalf in making decisions in terms of storing, releasing, disposing of professional records that are consistent with relevant laws that you follow with your board and your license and all clients related material must be handled only by your professional executor. So I wouldn't allow my husband, who doesn't know anything about what I do in my practice, to come in and handle all handwritten documents and just let my professional executor handle all electronic documents, so you're going to want to make sure that they are handling all of your documents.
Speaker 2:Carry out. Your professional executor has the authority to carry out any activities deemed necessary to properly administer your will. So there may be things that you didn't think about, but this is just kind of a cover statement and they have the authority to delegate and authorize other persons they determine by them to assist and carry out the activities necessary to administer your will. So, again, what if your professional executor decides yeah, I really should get an attorney, but this one client is sending in this information or asking for things and I don't know? You give them the power to hire anybody that they need using your finances and you give them the authority to assist in therapeutic issues to be addressed with your clients, as well as any billing issues, insurance issues or other administrative details. You also give them the authority to cancel all of your appointments, to handle any necessary discussions regarding your absence and to make professional referrals and to make professional referrals and to make decisions about further client contact and follow-up.
Speaker 2:They may decide yeah, you know, I really feel like I need to follow up with this client a few times. They're having a really hard time with this. I need to make sure that they're getting into their referral. That's okay, that's up to them. I mean, at this point you don't have any control over it and then you're going to list your attorney for your professional will and you're going to list your attorney for your personal will and then anyone else that you feel is important. I list my significant other on my professional will because that person, my professional professional executor, will need to communicate with him as to what's going on with my business don we have a question?
Speaker 1:what if you plan for business to continue after your death?
Speaker 2:so, uh, yeah, so I'll go ahead and talk about it. I think that if you have a profitable practice one, you should have it evaluated to where you give. So in mine, I dissolve my group practice and I'm back to solo. But when I had a group practice in my professional will, it gave my professional executor first right of refusal to buy my practice. So my professional executor got first right of refusal. That's who I wanted my practice to go to. She could have bought it. She had everything she needed to continue running it and to take the profit from it. Um, you can also put in there that you want to sell it, and so if you had it evaluated, who did you use in terms of the business broker or the attorney? So list anybody there that would be important to making those decisions. Does that make sense, okay?
Speaker 1:So, in other words, when you die, your practice has to be owned by somebody.
Speaker 2:It's either closed or owned, and so you're either going to give it to them and then you need to have your attorney aware of that so that your attorney can step in and do everything to dissolve it from your name and from your LLC or PLLC. Does the?
Speaker 1:executor need to be a therapist as well.
Speaker 2:Ideally yes, Ideally you want somebody who's a therapist that knows about client care, knows about continuity of care, knows your code of ethics, knows your licensing board. It's just going to be an uphill struggle if you appoint someone that doesn't know anything about your profession. Yeah, Any other questions?
Speaker 1:All my children know how to run my business, but they are not therapists.
Speaker 2:So you can appoint a professional executor that is, a therapist, and list your child. If you have one that's more responsible than the other, I don't know, maybe you want to list all of them to work with the professional executor. So I mean, that's fine, but your children are going to be the ones contacting your clients and you need to make sure that they're also going to be able to put all of that communication in a record and close the records appropriately, sorry. Let me say one more thing. If the client comes back a year after you die and request a copy of their record, you need to make sure your kids know that they have to turn that over still and if they want to charge for that, they can, but where the records are.
Speaker 3:Can I add some clarity to that, kate? Yeah, go ahead. I'm sorry, I know it's probably not time for questions, but my plan is that the business will continue and they will be a part of it somehow, not necessarily contacting the clients and all of that. Right, I understand that the professional executor I have two people that are licensed that I want to get, but I want them to be able to still benefit financially from the practice, but I want them to be able to still benefit financially from the practice.
Speaker 2:My family? Yeah, I would just strongly suggest that your attorney knows that and that they are there to help protect and, kind of like, hold the hand for your children to how to move forward with your business, since they are not in the clinical but they're going to have to work with clinical personnel. Yeah, sorry, kate, but they're going to have to work with clinical personnel.
Speaker 1:Yeah, Sorry, kate, what were you going to say? I was just wondering can a non-counselor own a counseling practice? I'm actually Googling it.
Speaker 2:Yeah, I don't know of a non I mean other than like BetterHelp and all of these online counseling that are more tech industry and get around the loophole. They're able to get around client confidentiality because it's a tech business I don't.
Speaker 1:Google thinks I'm in Michigan, so somebody Google that and let us know.
Speaker 3:Okay.
Speaker 2:I can look it up. I'm going to move forward on this real quick. The next thing I have is this box that I was telling you about, where you can check. Currently I do not have an attorney for my practice, but my professional executor may hire an attorney for any matter related to my practice, and my professional executor has full discretion in choosing this attorney. And you also list your insurance. So for me, I have multiple businesses right, so I have my practice, and then I have the practice class that I do retreats and CE trainings with, so I have a professional role for both, and I have two insurance policies. So one has one insurance policy and one has the other. But if I combine them, if you have multiple policies under the same insurance company, you would just want to make sure that you list all of them right here. Okay, and then where are your keys and your calendar?
Speaker 2:Some people really prefer paper calendars still and are not fully electronic. So where is that? If you keep clinical notes, handwritten notes, like I do, where are those stored and where are the keys to that? And you also want to write what, what platform you're using for client records. So where are your records located? Are they located in a platform and if so, do you have paper records? Where are those located? And then all of the passwords to your computer so that people can log into that, that people can log into that. So, with the client's consent, copies of referred client's records can be forwarded to the new therapist. So your professional executor would follow the same standard get the release, forward the records to the new therapist that the client is going to and then they could just like put that ROI in the record and close it.
Speaker 2:Where did I, I lost my spot, unless my professional executor deems that inappropriate for clinical reason. Like you know, it's the same standard. Other records should be maintained in a safe, confidential place for a minimum number of years required by state federal law. So please store all electronic or written psychotherapy process and progress notes. Any other non-therapeutic documents can be destroyed, shredded properly, however you deem Like.
Speaker 2:If you want them to store your records in like Iron Mountain or some professional location, you just need to probably have them call and arrange to pay for that in advance, the seven years. So that's something to think about if you're going with the company, if they're not willing to keep them in their office. All electronic records are stored? Using which platform? What are the monthly fees? So something to think about is like if I die, how long do I want my professional executor to extend that monthly subscription Do you want them to pay? Do I want them to continue paying it for three months, six months, if I'm not continuing my practice? And if so, how much is that? Because you want to make sure that they are able to budget that money out for future use.
Speaker 1:And then please, we have a question about passwords, but finish your thought.
Speaker 2:Please make sure that the fee is paid for for how many months and you enlist it here. Also, make sure, like for me, I use Theranest. You, an attorney, told me this. I, because they're my records still, I can download those on a flash drive, on a hard drive. They're my records, right. So if you want your professional executor to download client records from these platforms, make sure that you have that written in your professional will, or this is the reason I contacted attorney. I had a lot of 1099s. When my 1099 left, my attorney had them sign a form stating that they now realize that I no longer own these records, that these were their records so in the future they were responsible for them and they were allowed, according to that platform, to download those records. They retained those records, not me, okay.
Speaker 1:So how do you recommend password sharing and account updates, as they can happen very frequently?
Speaker 2:so I just piss. I put the passwords in here, but also I allow my professional executor control over my password management in my computer. So most of your passwords and I have an app. So I also have an app that I put my passwords in, because usually when I travel my goal is to forget all my passwords. That's how I know I'm having a good time, and so I store my passwords in a password app that's protected. So as long as they have access to your password manager, if there's change a lot or they have access to the app with the passwords, that's okay.
Speaker 2:Or if you keep the same password anytime, you change a password, just change it on your professional will or attach a document with that with passwords and you just change it on there for them. I think you can do it in different ways. Um, let me see if, if you're a supervisor, you want to also document where your supervision records are, in case your supervisees come back and state that they need something or they want to dispute something. Your professional executor can easily access those or turn those over if they need to. For passwords, I always state where my passwords are located.
Speaker 2:My professional executor can gain access with the following password to my computer. I then list like what's my user ID and password of my computer, to electronic medical records, to my website, login to my voicemail, to social media accounts, to QuickBooks, to ChimpMail, to my insurance panels? Just sit and think about all the things. Or go to your password manager and look at all of the different things you have passwords for. I mean, there's so many, right? You could list all of those here or just give them access to one platform where you store those what platform do you use?
Speaker 2:they want to know I have to look at it and I can send it to y'all. I have an app, but most of mine are stored in my password manager in on my computer, which I know I can't get you right now because I'm gonna knock myself out. Um, I'll look that up and I'll look on my apps. Also, your bookkeeper and your CPA. So I have a bookkeeper. She's in my QuickBooks every month. She's reconciling things from accounts, and then I have a CPA that I've had for years. They communicate with each other. So it's pretty nice. You don't have to have that, but if you do, you need to list your bookkeeper and your CPA so that they can communicate, because they're still going to need to file your taxes after you're dead, like to close your business out. So in order to transition your business or move your business forward, they are going to need to have access to all of that. So make sure that if you have a billing administrator, they know that they can then talk to your bookkeeper. Your CPA this statement says my billing administrator can track my receivables from clients and third-party payers. Billing administrator can assist in running payroll reports, settling outstanding invoices. Please defer to my professional executor above regarding any financial decisions. Collect and open all incoming business mail and turn my bills over to my professional executor to settle when financial transactions are complete and at the end of the tax year, please make available to my professional executor any information needed by my accountant, cpa. No identifiable client information should ever be transmitted. So this is just a clause I put in mine. You can tweak it however you want and add what you need to.
Speaker 2:My business generates revenue through services provided. Clients either pay out of pocket or submit claims authorized by Managed Care for reimbursement. This information is listed in the client record and ledger. So whether it's Blue Cross, uhc if you collect insurance, or it's private pay, you're just directing them to where that information is. Debts owed are listed in. So in my ledgers, right? And then please send a bill for outstanding balances to all of my clients' only monies for services previously rendered. So I want my money collected. That way it can be used to settle my business. You can see all revenue deposited into my accounts by looking at. So for me I list my banks and I have multiple banks, but I'll list like Austin Telco or USAA or whatever Randolph Brooks, so you want to list whatever accounts you have out there. I have also separate accounts for each of my businesses so that my books are clean. So you would want to list that and the other professional.
Speaker 2:This section is the section about communicating your absence with your clients. So please communicate my absence within how many days or weeks of your absence. So do you want them to wait, like what if I'm? Like what if I cause I backpack a lot, right, what if I'm just backpacking and I'm lost in the woods living off the land? Do I want them to contact my clients a day, one day of me missing, or do I want them to like, wait for one week or two weeks? So it's up to you to kind of list that in there.
Speaker 2:Also, please communicate my absence by calling my active clients via telephone using client contact list and my EHR. Please place a note on the front door of my office that states I am unavailable and to call my executor listing that contact number, email, active and archived clients that I'm no longer able to practice due to an unexpected event. You can change my voicemail message so that my executor is leaving the message below and then you can list the message you want them to say and that clients that cannot be reached by phone should be contacted by mail and informed in my absence in writing, and then you could say please put a copy of that in the record. And then I would like the following message communicated and you can list that out Blank is no longer in the office and she and Kathy is taking her calls. Please contact her at blah blah, blah, email blah For clients to ask do you want your clients to know about your memorial service?
Speaker 2:Do you want them there? Some people do not, so you can check. No, some people do, but it's something to think about. You want your executive, your professional executor, to have the answer to that and not be put on the spot. And then any other notifications. Do I want the following organizations or colleagues notified of my temporary or permanent absence?
Speaker 2:My licensing board referral sources that I refer to. I want them to know my therapist friends, my alma mater, my therapist, my personal therapist, consultation groups I might attend. Also, notify all business associates by writing that I have a BAA with and then I list where my BAAs are located. Those are business agreements and then this is my referral list. Like these are the therapists ideally I would want my clients referred to. So I see adults, mostly young adults, adults that I do EMDR and so most of my therapists are going to be trauma and EMDR certified.
Speaker 2:And then this is your website information. Do you want to continue paying for the name of your, whatever your dot com is? Do you want to close? Do you want your website taken down? If so, how long? How long do you want your website up? So for me, I would want, like a message on my website, to pop up a pop-up message for like a month and then take it down, close my website. Um, because you okay, I'll say this. So for me, uh, my clients can log into a portal electronically through my website to onboard electronically to my practice. So if that's the case, you have that you may want it taken down immediately or limit the access so that new clients cannot try to get on your books.
Speaker 2:And then, do you have any LinkedIn Psychology Today ads you need taken down or Google ads that you need taken down? If so, you need taken down. If so, list those. Then everybody always laughs at why I have this here. But these are the people I want avoid, to avoid, my professional executor to avoid.
Speaker 2:So there may be some people we don't talk bad about them because it kind of goes against our code of ethics, but there may be therapists out there that you absolutely do not want involved with your business, to either buy it or you don't want them involved with your clients. You don't want to refer to them. And this is where you would list those names. You don't have to say anything other than their name, something that your professional executor would know like if they were to call and like phish or try to gain information or gain your clients or gain assets. They do not have access to your assets. Ok, and then, with compensation for your executor, what do you want them to be paid? And then you print it and you sign it and you get it notarized and this is what. Oh, now I can move it. I'm so sorry, I could have done that all along. I'm not sure which screen you can see. Can you see my slides now?
Speaker 1:No, we're still looking at your PDF.
Speaker 2:Let me go back to my slides, almost done here, so some other considerations that I just kind of like. Listed here is has to do with that group practice. I don't know how many of you own a group practice, but I would recommend that, whether they're W-2s or 1099s, that you have each person on your team fill out a professional will and, again, you don't have to be the professional executor for everyone in your business, but it is helpful to know how they want their affairs handled, how they want their clients communicated with, or the passwords that they have, copies of their insurance, so that you can easily go pull that. I mean, you're going to have that if they're an employee, but you want everything that you need in order to close out their clients and you want to use a professional will for all your business ventures and make sure you're using your BAA and I would attach this to the professional will. And then last, which we talked about already, get your business valuation. Like if you think that your business is valuable and that you have clients and it can continue to make money and profit and you want someone else to take that over, where you want to maintain your business after your passing, then get it evaluated so that you can sell it. I mean it should be that way.
Speaker 2:Even if you're living right, you never just close a business. You don't work your butt off to create a really successful business just to close it. You really always want to think about I'm going to sell it. If I ever close my business, it's going to be because I sell it. And so you want to always kind of like have that, have your business in order so that it could easily be evaluated. And I've contacted people before and at a group practice I had several people say unless you're bringing in net over $500,000 a year, we're not going to value it. But then there are a lot of others that don't say that. So if one broker says no, it's not valuable enough, I wouldn't take that to the bank. I would still get other recommendations.
Speaker 1:Got a couple of questions. Okay, do you have a sense of what a reasonable compensation for a professional executor would be?
Speaker 2:So I think mine's capped like I think mine is. I think the last, when I had my group practice it was capped at $5,000. Because my stuff was getting closed out fairly quick. But it doesn't even have to be that much. It could be $20 an hour. You could ask your professional executor, like what would be a fair rate? Do you expect to get paid $20 an hour, $50 an hour? Your rate, your session rate an hour? I mean? If so, I would put on there please work quickly. But you can kind of like decide that with your professional executor is probably the best way to handle it. But just have a cap Like mine was capped at five. I wasn't going to pay over five. They couldn't just sit and like manage my business and keep running out of clock on money for my business because I prefer that to go to my family.
Speaker 1:And who does the valuation?
Speaker 2:There's a lot of business brokers out there. I don't have any to just recommend. I found some local. I would ask around If you know people that have sold their business before. You could ask who they use. I learned about this because years ago there was a person in the field who had a huge following and was helping people grow group practices and he sold his. So I had asked him hey, who did you use to get yours value rated? And he told me but they were out of state and so what I did was call that broker and they gave me the name of someone in Texas which I don't remember at the time. I think they were out of curve, but I don't have that information off the top of my head.
Speaker 1:So one of the things I know we won't be able to get to, but a lot of folks were asking in the Texas Counselors Creating Badass Businesses page was closing a business. Right, you're not dead, you're not incapacitated, you just want to close it, and I know we're right here at the end. But do you think any of this can be modified or foreclosing a practice? It looks like it can to me.
Speaker 2:Yeah, I mean, ideally your professional executor is using this template to close your practice. Right, I saw those questions and I heard the suggestions that I create something similar for closing and I can't. There are things that I would add to that. If you were going to just close it and you're not, you're not deceased because if you close your practice you're still going to be in control of the records. It's not going to be your professional executor, so some of it would change if you're living or not. Um, so I would just kind of consider that, like, what are you ethically obligated to do once you close a practice for alive versus dead or incapacitated? Yeah, makes sense. And here's the code of ethics. Just like you know, you want to review your ACA. So APA actually has a template that's short. It's like a one page professional will. Sure, it's like a one page professional will ACA Code of Ethics has you know the guidelines on, like your custody records, custody and caretaking. But I would definitely review your code of ethics.
Speaker 1:And then there's my email Awesome, and you came right at time, so I hope you still have time to take your kid out to go get pizza. This is awesome. This has been wonderful, and y'all take a picture of the slide so that you can contact Dawn with your questions. And she hosts CEs as well. And when is your live ethics consortium going to be?
Speaker 2:I'm aiming for January. I host an ethics consortium every year and I offer six ethics CEs. This year I'm going to ask speakers to talk on special populations or multicultural topics so that you can get either ethics or multicultural CEs. But I'll be at TCA if y'all are there, presenting on ethical termination. There's a whole guideline for ethically terminating clients with you alive and I'll be presenting on nature based therapy. So if you're at TCA, come see me and I'm happy to answer your questions.
Speaker 1:And do you have any retreats coming up that people can sign up for? Are you still putting together your 2025 calendar?
Speaker 2:I'm still putting it together, trying to decide. I do have two spots left on the Virginia Triple Crown on the Appalachian Trail. We backpacked the Appalachian Trail for three nights and five days. So, yeah, if you're a backpacker and you're interested in that, I can. I'm happy to answer any questions about that, but I hope this was helpful. I really, really strongly can't say it enough I hope you go and do your professional will now and have it as part of your part of your records, because it's so important.
Speaker 1:Well, this is the second time I've heard you give this presentation. I still haven't done it, and so every time I hear your presentation, I'm like I have to do this, like today, I have to do this right now. So thank you.
Speaker 2:And I've dragged you to Spain and Costa Rica and you don't have it.
Speaker 1:I know right. It's like, okay, what if we don't come back? We need a professional. Will Y'all do me a favor real quick? There's a question about the template and the handout that goes to you when we send you your certificate. You're going to need to give us a couple of weeks, especially for matching your attendance with your Zoom name and your email name. The more names, the longer it takes us. So do yourself a favor. Click the link right now, because when I end this meeting, that link goes away.
Speaker 1:So, even if you don't fill it out now, go ahead and click the link so you can get attended. Your attendance will be marked and you can get your certificate. Dawn, thank you again so so much and you're amazing and you have so much information, and thank you for turning the fire on our feet for this, because we need it.
Speaker 2:Thank you for having me. I'll talk to you later, all right, bye, everybody.