Sudden Cessation of Practice and Custodianships

The LPM Department Law Practice Management, Succession Planning

 |Succession PlanningSudden Cessation of Practice and CustodianshipsWritten byThe LPM DepartmentNovember 20, 2024Share this PostTable of Contents TDRP 13 Custodian Guidance Client Files IOLTA Accounts Temporary Cessation Wrapping Up  Forms and Resources ⇚ Back The Mechanics of the Texas Rules of Disciplinary Procedure, Part XIII Cessation of practice procedure rests primarily on Texas Rules of Disciplinary …

Transition Planning

The LPM Department Law Practice Management, Succession Planning

 |Succession PlanningTransition PlanningWritten byThe LPM DepartmentNovember 20, 2024Share this PostTable of Contents Overview Sales Overview FAQs Rules & Practice Tips Buyer & Seller Checklists Traditional Succession Methods  Closing Your Practice Dissolving the Professional Entity Forms and Resources ⇚ Back The goal of transition planning is to enable you to achieve what you perceive to be …

Designating a Custodian Attorney

The LPM Department Law Practice Management, Succession Planning

 |Succession PlanningDesignating a Custodian AttorneyWritten byThe LPM DepartmentNovember 20, 2024Share this PostTable of Contents TDRP 13.04 Custodian’s Role Designation Portal Custodian Agreement Will & POA Text Checklist  Forms and Resources ⇚ Back Designating a custodian attorney is a great place to start. It is quick, easy, and immediately provides for transition if you suddenly cease …

File Management and Ensuring Password Access

The LPM Department Law Practice Management, Succession Planning

 |Succession PlanningFile Management and Ensuring Password AccessWritten byThe LPM DepartmentNovember 20, 2024Share this PostTable of Contents Rules & Ethics Practice Tips Fee Agreement Language Closing Files Password Access Checklist  Sample Policy ⇚ Back Managing accrued closed files can be a daunting task if an attorney has not employed file management or file retention and destruction …

Practice Tips on File Destruction

The LPM Department Closing a Practice, Law Practice Management

 |Law Practice ManagementPractice Tips on File DestructionWritten byThe LPM DepartmentOctober 21, 2024Share this PostIntroduction In Texas, there is no bright line rule that states when a client file can be destroyed. Thes practice tips are based on the Texas Disciplinary Rules of Professional Conduct and the guidance provided in a few ethics opinions. Applicable Rules …

An attorney sitting at his desk just before he closes his law practice

Checklist for Closing Your Own Practice Without a Successor

The LPM Department Closing a Practice, Law Practice Management

Law Practice Management |Checklist for Closing Your Own Practice Without a SuccessorWritten byThe LPM DepartmentSeptember 20, 2024Share this PostIt is important to create a transition plan with a timeline for closing your practice when you do not intend to sell your practice or transfer it to a successor attorney or firm. The following checklist outlines some …

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Alternative Fee Arrangements

The LPM Department Law Practice Management, Starting a Practice

 |Starting a PracticeAlternative Fee ArrangementsWritten byThe LPM DepartmentMay 13, 2024Share this PostNotes: In addition to the legal ethics considerations listed in the table, see Texas Disciplinary Rules of Professional Conduct, Rule 1.04 regarding fees and Rule 5.04 regarding fee sharing. Other than a true nonrefundable retainer agreement, which are relatively rare, any fees paid to …

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Nonrefundable Retainers: Proceed with Caution

The LPM Department Law Practice Management, Starting a Practice

 |Starting a PracticeNonrefundable Retainers: Proceed with CautionWritten byThe LPM DepartmentFebruary 28, 2024Share this PostIt’s tempting to put a nonrefundable retainer clause in your standard fee agreement. The client agrees that the funds are earned upon receipt so the money can go straight into your operating account. No need to mess with trust or IOLTA accounts. …