Law Practice Management |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 …
Law Practice Management |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 …
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. …
Designating a custodian isn’t just for emergencies; it’s good business. It protects the value of your practices, ensures continuity of care, keeps your clients safe, and spares your loved ones from the needless legal and financial confusion that could arise.
Law Practice Management |Law Practice ManagementChecklist 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 …
Law Practice Management |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 …
Law Practice Management |Maintaining a Practice|Starting a PracticeLegal Malpractice InsuranceWritten byPatricia PetersonFebruary 28, 2024Share this PostWhat is Lawyers Professional Liability (LPL) Insurance? In the legal profession, it is often referred to as legal malpractice insurance. I will use both terms interchangeably throughout this article. LPL insurance insures a law firm and its employees for acts, errors …
Law Practice Management |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 …
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.
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