1 Taking the pulse of the reader of the ABA Section of Real Property  Trust & Estate Law’s Probate & Property

2 Commissioned ABA Publishing commissioned industry research firm, Readex Research of Stillwater, MN Four-page questionnaire mailed April 2009 to 500 randomly selected members of the ABA Section of Real Property, Trust & Estate Law. A follow-up mailing to non- respondents conducted in mid-May to increase response levels. 28% response rate Goals To demonstrate the reading relationship and relevance of the issues of Probate & Property to section members and stakeholders. To document for advertisers that Probate & Property: represents a viable advertising medium directly connects to a legal audience of real property, trust & estate attorneys.

3 Summary Findings How many of the last 4 issues of Probate & Property have you read or looked through? Typical respondent has read or looked through all 4 of the last 4 issues of Probate & Property and reads about ½ of a typical issue. 40% agree that Probate & Property is a “must read” Only 1% said they do not read/look through it. 64% 11% 9% 7% 2% Probate & Property Reader Survey – 2009 Question # 1

4 Summary Findings In the last 12 months, what actions have you taken as a result of seeing advertisements in Probate & Property? 29% have taken action as a result of seeing advertisements in Probate & Property in last 12 months including 12% who have visited an advertiser’s web site 12% 2% 9% 4% 6% 1% 2% 4% 7% 69% Probate & Property Reader Survey – 2009

5 Top 2 box summary: 5-point scales: 5 = very interested / satisfied, 1 = not at all interested / satisfied How satisfied are you with Probate & Property current coverage of each of these topics? Question # 3 Question # 6 How interested are you in reading about each of the following topics in future issues of Probate & Property? Of the 11 topics listed, the most desirable for future issues are estate / trust planning and estate / gift tax. And, there could potentially be more / better coverage of business planning in future issues. It is of interest to a fair number (46%), but far fewer (25%) are satisfied with the current coverage. Topic Interest is quite varied with no more than 59% indicating interest in any single topic.

6 What is your level of agreement with each of the following statements about Probate & Property? Three in four agree that Probate & Property is relevant to their practice Probate & Property Reader Survey – % 40% 56% (rated on a 5-point scale where +2 = strongly agree and -2 = strongly disagree) Question # 5 75%

7 Probate & Property Reader Survey – 2009 Probate & Property is published six times a year. How often would you prefer to receive it? What is your opinion of the length of the articles in a typical issue of Probate & Property? What is your opinion of the level of detail in a typical issue of Probate & Property? 10% 80% 7% 0% 4% 81% 9% 1% 71% 0% 9% 1% 12% Question # 7 Question # 8a Question # 8b

8 In what format would you prefer to receive / read Probate & Property? The print version of Probate & Property definitely has a future. 84% of respondents want access to a print magazine. 12% indicate a preference to only receive / read Probate & Property from an with links to an online version. Probate & Property Reader Survey – % 12% 38% 4% Summary Findings Question # 10

9 Probate & Property Reader Survey – 2009 Are you aware that ABA members can access issues of Probate & Property online at the ABA web site? Have you ever visited the Probate & Property section of the ABA web site? Have you ever read or looked through Probate & Property articles found on the website? 3% 59% 39% 2% 76% 22% 3% 82% 15% Question # 11 Question # 12 Question # 13

10 Probate & Property Reader Survey – 2009 Competition for this audience is not exceptionally fierce. About half of the respondents (48%) indicated they regularly read their state bar publication. Otherwise no more than 29% indicated they regularly read each of the 8 listed, competitive publications. Which of these other trade publications do you read regularly? Indicated at least one publication Indicated at least one other than state bar publication 73% 60% 20% 6% 4% 23% 11% 3% 48% 29% 14% 22% Question # 14 Summary Findings

11 How likely are you to learn from each of the following sources about new technology products, software, or services related to your work? Probate & Property Reader Survey – 2009 Top 2 Box Summary (rated 4 or 5 on a 5-point scale where 5 = very likely; 1 = not at all likely) 34% 39% 42% 48% Question # 15

12 Probate & Property Reader Survey – 2009 Which one of these describes your current involvement in real property or trust / estate law? About how long have you been involved in real property or trust / estate law? 81% 9% 1% 6% Additional Classifications: student retired temporarily unemployed Other (non-law related) 0% 1% 2% 9% 4% 8% 7% 6% 12% 20% 19% Question # 17 mean: 23.6 years

13 About what percentage of your work-related time is spent in each of these practice areas? On average, the respondents spend about a third of their work- related time in trust / estate law, another third in real property law, and the remainder in some other area. about one in ten indicated they work solely in either trust / estate law (9%) or real property law (10%). Probate & Property Reader Survey – % 34.7% 29.1% Summary Findings

14 Probate & Property Reader Survey – 2009 Which of these products and services are you involved in purchasing for your organization or its employees (i.e., recommending, specifying, evaluating, or selecting? Which of these products and services do you / your organization plan to purchase or upgrade in the next two years? Question # 20 Question # 19 19% 9% 31% 29% 30% 29% 26% 41% 32% 19% 11% 6% 12% 3% 21% 10% 16% 5% 14% 7% 41% 32% Software NET: Involved = 41% / Plan to Purchase = 21%

15 Probate & Property Reader Survey – 2009 What one change would make Probate & Property more useful or interesting for you? Reader Comments: Individual opinion written in response to question #9 Digital: as visually readable on-screen as in hard copy digital version/access alert for the various articles make past articles searchable online  online Separate Magazines: don’t need the real property element… separate the real property from the estate/tax areas if all the elder law information and estate planning information was removed…also, because it is a national publication, information is often irrelevant less probate, more property (3 times) less real estate topics…I am a trust and estates lawyer (2 x) make 1 probate journal and 1 property journal split it up into one real estate edition then the following publication do a probate edition More of: more basics, more elder law, more non-tax driven. estate planning, medicaid planning more case law updates more commercial real estate information and articles that deal with current developments more detail that would be of use to skilled practitioners Question # 9 More of More: more practice pointers with links to example documents and/or further reading more short articles on key law changes more practical articles on commercial lease issues more reviews of relevant software

16 Probate & Property Reader Survey – 2009 What one change would make Probate & Property more useful or interesting for you? Reader Comments… part two Neutral: “Nothing comes to mind” Physical Changes to Magazine: “Modify table of contents to list articles by subject matter” “Page layout for articles, the left side ‘Update’ heading does not set apart the articles” “Poor layout graphics” Praise: “I think it is a good magazine” Question # 9 Opinion: “Do not need low level articles” “Greater depth” “More articles” “Shorten articles”

17 Probate & Property Reader Survey – 2009 Geographic Distribution of Respondents to Probate & Property Reader Survey – %6% 14 % 16 % 7%7% 24 % 8%8% 14 % 4%4% 140 Respondents / 28% rate-of-response

18 Probate & Property Reader Survey – 2009