Starting a Practice |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 …
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 …
Starting a Practice |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 …
Starting a Practice |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 …
Starting a Practice |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 …
Starting a Practice |Maintaining a Practice|Starting a PracticePractice Tips Regarding File Retention, Destruction, and Establishing a File Retention PolicyWritten byThe LPM DepartmentOctober 11, 2023Share this PostIntroduction Although there is no rule that specifically lays out the requirements for client file retention and destruction, the Texas Disciplinary Rules of Professional Conduct and a few ethics opinions provide …
Starting a Practice |Starting a PracticeBecome an EmployerWritten byPenny RobeJune 25, 2020Share this Post×Print PDF version Of This HOW TO GUIDE. Introduction It’s no mystery why many sole practitioners insist on doing everything themselves. Your business’ survival depends on hiring the right people. Finding the best employees can be tricky, and without the right systems in …
Starting a Practice |Maintaining a Practice|Starting a PracticePartner Compensation Structures: A Seven-Part SeriesWritten byDebra L. BruceJune 25, 2020Share this PostDebra L. Bruce, President of Lawyer-Coach LLC and member of the Law Practice Management Committee, has authored a new seven-part series on Partner Compensation Structures as a free resource. View each part below:▸Part 1: The MonarchThe Monarch …
Starting a Practice |Maintaining a Practice|Starting a PracticePartner Compensation Structure Series Part 1: The MonarchWritten byDebra L. BruceJune 25, 2020Share this Post×Print PDF version of this guide.Introduction This is the first in a series of articles describing the most common structures law firms use for partner or shareholder compensation. For simplicity, the article refers to partnerships, …
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