Revolutionizing Family Law Firms: Automating Financial Transaction Categorization

Navigating the complex landscape of family law can be challenging, particularly when it comes to the meticulous task of categorizing financial transactions during Mandatory Disclosure and Production. Drawing from personal experience, I have embarked on developing a software solution designed to ease this burden for family law practitioners.

The Genesis of an Idea

The inspiration for this project stemmed from my own divorce proceedings, where I found myself manually categorizing three years’ worth of financial documents—bank and credit card statements—into a coherent strategy for deposition. My quest for an existing automated solution revealed a gap in the legal tech sphere; current innovations predominantly cater to Customer Relationship Management (CRM) or Contract Lifecycle Management (CLM), providing limited options for solo and small law firms catering to family law.

Introducing a Transformative Tool

This new software aims to revolutionize the workflow for family law firms by incorporating cutting-edge features:

• Automated Data Retrieval and Structuring: Seamlessly extract transaction data from any financial institution and convert it into structured formats like Excel.

• Machine Learning Powered Categorization: Leverage advanced Machine Learning capable of processing 500 million transactions daily to categorize each transaction systematically.

• Transaction Analysis: Distinguish whether transactions occurred online or in-person, enhanced with a timeline-based map for all in-person transactions.

• Convenient Data Export: Effortlessly save and import data in CSV format into your preferred tools such as Excel or Google Sheets.

Future Developments and Feedback Request

In the coming months, we anticipate equipping the tool with the capability to generate comprehensive forensic accounting reports. An alpha version of this reporting feature is already in testing, automating the entire process, including the generation of graphs, with minimal manual intervention through Figma. You can explore a sample report here.

I am currently seeking feedback to refine and enhance this tool. If you are involved in a solo or small law firm and see potential benefits from this innovative software, I invite you to share your thoughts. My direct messages are open, and I am keen to hear your valuable insights.

Together, let’s transform the way family law firms handle financial disclosures, making the process more efficient and less burdensome.