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, …
Starting a Practice |Maintaining a Practice|Starting a PracticePartner Compensation Structure Series Part 2: ParityWritten byDebra L. BruceJune 25, 2020Share this Post×Print PDF version of this guide.This is the second article in a series of 7 discussing the different kinds of partnership compensation structures that law firms tend to adopt. In Part 1 we discussed the Monarch structure which involves one …
Starting a Practice |Maintaining a Practice|Starting a PracticePartner Compensation Structure Series Part 3: Executive Committee MonarchyWritten byDebra L. BruceJune 25, 2020Share this Post×Print PDF version of this guide.This is the 3rd article in a series of 7 discussing the different kinds of partnership compensation structures that law firms tend to adopt. Part 1 discussed the Monarch structure, which involves …
Starting a Practice |Maintaining a Practice|Starting a PracticePartner Compensation Structure Series Part 4: LockstepWritten byDebra L. BruceJune 25, 2020Share this Post×Print PDF version of this guide.This is the 4th article in a series of 7 discussing structures that law firms tend to adopt for partner compensation. In Part 1 we discussed the Monarch structure, in Part 2 the Parity structure, and in Part 3 the Executive …
Starting a Practice |Maintaining a Practice|Starting a PracticePartner Compensation Structure Series Part 5: Modified LockstepWritten byDebra L. BruceJune 25, 2020Share this Post×Print PDF version of this guide.This is the fifth article in a series of seven discussing structures that law firms tend to adopt for partner compensation.Modified Lockstep Description Many firms have modified the lock step …
Starting a Practice |Maintaining a Practice|Starting a PracticePartner Compensation Structure Series Part 6: Eat What You KillWritten byDebra L. BruceJune 25, 2020Share this Post×Print PDF version of this guide.This is the sixth article in a series of seven discussing structures that law firms tend to adopt for partner compensation.Eat What You Kill (EWYK) Description Each lawyer’s …
Starting a Practice |Maintaining a Practice|Starting a PracticePartner Compensation Structure Series Part 7: Appendix AWritten byDebra L. BruceJune 25, 2020Share this Post×Print PDF version of this guide.APPENDIX A Sample Partnership Agreement Provisions Respecting Compensation Selected Provisions Of Agreement of Limited Liability Partnership Of A & B, L.L.P. [not intended as a complete partnership agreement] This …
Starting a Practice |Starting a PracticeSet Up Your Client Trust AccountsWritten byThe LPM DepartmentJune 23, 2020Share this PostThe Texas Equal Access to Justice Program is designed to provide funds to be used for indigent legal services. As a result, the IOLTA (Interest on Lawyers’ Trust Accounts) was implemented. IOLTA provides that attorneys must deposit all client …
Starting a Practice |Maintaining a Practice| |Starting a PracticeRetention and Destruction of Client FilesWritten byThe LPM DepartmentJune 23, 2020Share this PostRetention and Destruction of Client Files Unfortunately, there is no one specific rule in Texas regarding the requirements for retention and destruction of client files. Texas Disciplinary Rules of Professional Conduct However, Texas Disciplinary Rules of Professional …
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