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Partner Compensation Structure Series Part 7: Appendix A

Debra L. Bruce Law Practice Management, Maintaining a Practice, Starting a Practice

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 …

An illustration of a female attorney holding a folder next to a light bulb, a gavel, and a scale atop a stack of three books

Set Up Your Client Trust Accounts

The LPM Department Law Practice Management, Starting a Practice

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 …

Retention and Destruction of Client Files

The LPM Department Law Practice Management, Maintaining a Practice, Starting a Practice

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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Document Client Expenses and Attorney’s Fees

The LPM Department Law Practice Management, Maintaining a Practice, Starting a Practice

Starting a Practice |Maintaining a Practice|Starting a PracticeDocument Client Expenses and Attorney’s FeesWritten byThe LPM DepartmentJune 22, 2020Share this Post×Print PDF version Of This HOW TO GUIDE. Introduction In order to accurately account to your client, you should keep track of client expenditures, your fees charged and fees paid. There are very few, if any, courses …

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Evaluate Your Office Leasing Needs

The LPM Department Law Practice Management, Starting a Practice

Starting a Practice |Starting a PracticeEvaluate Your Office Leasing NeedsWritten byThe LPM DepartmentJune 16, 2020Share this Post×Print PDF version Of This HOW TO GUIDE. Leasing smart is an intregal part of your practice being on the Road to Success! Office space is often the second largest operating expense of most law firms today. If that is your …

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Write and Implement a Law Office Business Plan

The LPM Department Law Practice Management, Starting a Practice

Starting a Practice |Starting a PracticeWrite and Implement a Law Office Business PlanWritten byThe LPM DepartmentJune 11, 2020Share this Post×Print PDF version Of This HOW TO GUIDE. The purpose of business planning is to establish a common focus for action. This is done by: Clarifying goals Establishing measures of results Assessing resource distribution needs Unifying the …

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Prepare a Cash-Flow Budget for a Start-Up Law Practice

The LPM Department Law Practice Management, Starting a Practice

Starting a Practice |Starting a PracticePrepare a Cash-Flow Budget for a Start-Up Law PracticeWritten byThe LPM DepartmentJune 10, 2020Share this Post×Print PDF version Of This HOW TO GUIDE. Introduction With the aid of low-cost electronic spreadsheet applications the budgeting process has become less of a dreaded task. These software applications substantially reduce the work required to …

Smiling group of lawyers going over the law firm employee handbook together and working on a laptop at a table in an office

Draft an Employee Handbook

The LPM Department Law Practice Management, Starting a Practice

Starting a Practice |Starting a PracticeDraft an Employee HandbookWritten byThe LPM DepartmentJune 10, 2020Share this Post×Print PDF version Of This HOW TO GUIDE. Introduction An Employee Handbook should be tailored to the individual needs of the employer and the employer’s management style. It is to be used as a guideline and should never be interpreted as …

How to Set Billing Rates

The LPM Department Law Practice Management, Starting a Practice

Starting a Practice |Starting a PracticeHow to Set Billing RatesWritten byThe LPM DepartmentJune 9, 2020Share this Post×Print PDF version Of This HOW TO GUIDE. Introduction Today’s market and the increased client sophistication when selecting legal services, are making it necessary to carefully evaluate billing practices. Whether you prefer task based billing, value billing, hourly billing or …