What is a Step Rate Credit? Many attorneys have questions about what the Step Rate Credit is and how it works.
Simply put, this is a credit issued to you throughout your first five years on a declining scale.
There are many reasons why lawyers may choose to close a firm. Ideally, there is a plan in place and time to address specific issues, such as finances, clients, office space and equipment. However, in many instances, a firm may close due to unforeseen circumstances
Here’s the scenario: You represent a fiduciary of an estate. You want to make sure she is properly appointed and bonded, and then you want to move onto other cases. Right? Not so fast!
The fiduciary has an ongoing responsibility to the estate.
Make sure you and your client are on the same page. The use of properly drafted engagement letters is not only a critical risk management tool, but also forms the foundation of client communication and trust. Even if your jurisdiction does not mandate the content
Sometimes the unthinkable happens – a divorcing couple remains on civil terms. An ex-spouse might actually want to ensure the financial well-being of the other by agreeing that the other spouse will remain the designated beneficiary of a life insurance policy purchased during the
The standard of whether attorneys working in an office sharing arrangement will be held liable for the malpractice of their co-tenants is if a reasonable client would conclude that the attorneys were a firm or that some other lawyers in the arrangement should have been
While no checklist can answer every question about the ins and outs of becoming a sole practitioner, this list is a starting point for any lawyer who is considering opening her own law practice.
WARNING AND DISCLAIMER: This information was prepared by The Bar Plan for general information purposes, and
The Rules of Professional Conduct (E.g. 1.1-Competence and 1.3-Diligence) require lawyers to plan for disaster related events to protect their clients’ interests. Please review the following information to ensure that your law firm is adequately prepared to respond to disaster.
Many lawyers accused of malpractice learn too late that minimal risk management procedures could have prevented the costly claim. Performing a self audit of your law firm’s risk management procedures is an efficient way to determine your firm’s malpractice risks. The new year is a great opportunity
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