How much money do you need to run your practice? Where will it come from? A cash flow budget is a useful tool to help avoid short-term shortages of money. It is an estimate of all cash receipts and all cash expenditures that are expected to occur during a certain time period. For contingency fee […]
It’s common for small firms to obtain some financing from a bank. Typically, this is in the form of a line of credit. However, there are limitations in bank loans and firms may not be able to get all of the funding they need to run their practice. This is particularly true for contingency fee […]
In 2 recent studies, small law firms reported that they spent a significant portion of their time on nonlegal work. Running a law practice is a business and that means there are a lot of administrative tasks that must get done. However, when lawyers do too much of that work, it can seriously hurt the […]
In an important decision for personal injury litigators, the New York Court of Appeals, the State’s highest court, recently ruled that privacy settings in Facebook do not protect your clients from legitimate discovery requests. In Forman v Henkin, the Court of Appeals unanimously reversed the appellate court and reinstated a trial judge’s ruling requiring Plaintiff, […]
The process of applying for and receiving post-settlement funding is straight-forward and quick for those who follow the funder’s guidelines. However, once a law firm gets the money, attorneys often are concerned about what happens if their settlement is held up longer than expected or if other issues come up. An attorney does have some […]
Post-settlement legal funding is typically available in a wide-variety of cases. Any type of contingency fee case can meet the requirements for funding as long as the funder can underwrite the paying obligor; there is a written settlement agreement; and the legal fee arrangement is clearly spelled out between the client and lawyer. However, a […]
