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 …
|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 …
|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. …
This guide discusses the proper handling of monetary funds belonging entirely or partially to a client or third person that, as required by the rule, must be kept separate from the lawyer’s own funds by depositing the funds into a trust account.
|Resources for the PublicHow to Obtain a Refund of Unearned Fees You Paid Your AttorneyWritten byThe LPM DepartmentJanuary 18, 2024Share this PostIf you attorney has died, closed their office, or is otherwise not able to be located, here are some suggestions for locating your client file or documents, like a will. If Your Attorney Has …
|Resources for the PublicLocating Your Client File, Documents, or WillWritten byThe LPM DepartmentJanuary 18, 2024Share this PostIf your attorney has died, closed their office, or is otherwise not able to be located, here are some suggestions for locating your client file or documents, like a will. 1) If the attorney has died: Contact the State …
|Starting a PracticeOpening a Small or Solo Law Firm in Texas: Choosing an Entity Structure and Other RequirementsWritten byThe LPM DepartmentNovember 7, 2023Share this PostThe State Bar’s Law Practice Management Department often receives questions about starting a small or solo law firm in Texas. The most common questions include whether there are specific requirements for …
|Maintaining a Practice|Starting a PracticeSample File Retention PolicyWritten byThe LPM DepartmentOctober 12, 2023Share this PostThis file retention policy is a sample to help lawyers prepare their own file retention policies and should be adapted to meet the needs of each lawyer’s individual practice. This sample policy does not cover all situations in all law practices …
|Maintaining a Practice|Starting a PracticePractice Tip Checklist for Developing a File Retention PolicyWritten byThe LPM DepartmentOctober 11, 2023Share this Post1.) Ask your malpractice carrier for file retention guidance 2.) At a minimum, include the following in your file retention policy How the client will be notified of your file retention policy. How the client can …
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