6 Reasons Why Notary Entrepreneurs need Legal Service Plans

by Daniel C. Lewis

Whether you are a seasoned professional notary signing agent or a newly commissioned notary public, unexpected legal issues can arise each and every day.  These issues can lead to excessive legal costs to the notary personally.  


For instance, have you ever....

• traveled to an assignment and received a speeding ticket?
• needed to collect a payment from a title/signing company in another state?
• had a contract dispute with an out of state vendor?
• needed legal advice about a notarization?
• just wanted to talk to an attorney about an professional issue?

These are just a few issues that notary entrepreneurs face each day and they are not covered by basic Errors and Omissions (E&O) Insurance.  Having a legal service plan would give notaries the protection against these common notary business issues. Actually, having a legal service plan is different than having E&O Insurance or even having a notary bond.  
First, notary bonds are bonds that protect the public, not the notary.  If a notary was in a situation where they had to pay damages with their bond, the notary would need to pay the value of the bond back to the bonding company.  

Secondly, E&O Insurance is just that....an insurance. All insurance policies have at least one clause that gives them the right to refuse to pay out any damages resulting in a notarization.  Many notaries around the country that have found themselves defendants in lawsuits, have found this fact out the hard way by paying out thousands of dollars in legal fees themselves.  

In order to protect yourself and your business we have listed 6 reasons why professional notaries public need to have a legal service plan for their business.

CLICK HERE TO PROTECT YOUR NOTARY BUSINESS WITH A 

LEGAL PLAN

1)  Legal service plans give the notary entrepreneur access to law firms.  Talking with an attorney about legal issues such as collecting payments from vendors, a tricky notarization issue where the law is silent, or legal advice outlining the type of notary business you should operate (sole proprietor, partnership, LLC, Inc.) could mean the difference in operating a successful and profitable notary business for many years or a business that is slowly dying off.


2)  Having a legal service plan would provide the notary entrepreneur letters and phone calls made on their behalf by law firms.  Have you every had a dispute with a vendor and tried to handle it yourself?  Having an attorney make the call or send a letter on your behalf to their legal department makes a huge and positive difference.


3)  Having a legal service plan can help you with how you actually operate your business.  Being able to get the advice of a lawyer about basic business questions such as what type of business you should create, tax questions, as well as questions about collecting earned fees can mean the difference of thousands of dollars for your business.


4) Notary entrepreneurs are in their vehicles traveling to and from assignments every day which increases the risk of receiving some type of moving violation.  Being represented in court by a law firm will save you thousands of dollars each year on escalating insurance costs from points that would be assessed without attorney representation for a moving violation.  (Personally, this part of the legal service plan has really saved me on points and insurance costs over the years.)   


5)  Investing in a legal service plan for your business is smart and tax deductible.  Every successful business consults an attorney before making critical decisions that will affect the future of their business.


6)  Having a attorney review your contracts prior to signing them with an out-of-state vendor as well as reviewing how you operate your business will save you thousands of dollars each year.  Legal service plans give you this option. 

According to reports from the National Association of Secretaries of State Conference this year that was held in Indianapolis, 178 different notary bills have been proposed across the country.  This means there is a shift in how the politicians and business leaders across the country are thinking about the duties of the notary public. Major changes are coming for this industry so being properly prepared by investing in a legal service plan helps to lower the risk of failure for your business.  

If you would like more information on a legal plan that will meet your needs, feel free to contact me at dclewis@lewisnotary.com  

CLICK HERE TO PROTECT YOUR FAMILY WITH A 

LEGAL SERVICE PLAN

Daniel C.  Lewis is the current President of the Indiana Notary Association.  Daniel is also the author of the notary business guid MAKE YOUR BUSINESS OUR BUSINESS.  He was named by the National Notary Association as the 2010 National Notary of the Year and also named an Honorary Secretary of State by the Indiana Secretary of State in Indiana that same year.  He is the Managing Partner of Lewis Notary & Lewis Training Services Inc. as well as an Independent Associate with LegalShield.  For more information about LegalShield click here

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