Practice Resources
January
Note from Law Practice Management leadership
Welcome to the January 2011 issue of the Law Practice Management
Section newsletter.
As 2010 just closed and we all look forward to a prosperous
2011, this would be a good time to share some of the Law Practice
Management Tips of yesteryear to put to use in 2011. Some tips are
listed below that are worth a second look. The current and past
tips can all be found here.
It's been too long since we have been reminded to track our firm's
revenues by referral source, a prior tip from Leanna Hamill. Knowing how your
clients are locating you, whether it be word of mouth, former
clients, or various marketing media, will make it easier to decide
where to focus your marketing efforts. If you are not tracking your
referral sources already it is not too late to start.
It is everyone's goal to work more efficiently. Efficiency leads
to productivity. There are many tips focused on these objectives.
If you practice in the superior courts you have no excuse not to
have already signed up for access to the Superior Court docket. Many telephone calls to
the Clerk-Magistrate's Office can be avoided by checking the docket
at your office first. You can check on upcoming hearing dates,
filings, and even get a list of all or your appearances in cases.
If you have not signed up the instructions for doing so are here.
Using your software programs to their fullest capacity can be a
great time savings. There have been many tips about different
software programs and their use. Adobe's Acrobat is a popular and
useful program. Adobe Acrobat's typewriter tool may finally render that old
IBM Selectric you have been holding onto obsolete. Adobe Acrobat
has many other features that may help your practice depending on
whether you have the Standard or Professional version. You can use
it to redact sensitive information documents, add Bates numbering,
stamps, or even highlight and comment documents during review
without altering the original. Back in April we told you about a
great resource for lawyers using Adobe Acrobat: Adobe's
Acrobat for Legal Professionals Blog.
If you are looking for small ideas that may have a big impact on
improving your practice check out the Law Practice Management Tips
of the past and present. If you have a tip to share with others
send it in to the LPM section chair or vice chair for consideration.
Andrea Goldman, chair
Phil Taylor, vice chair
Law Practice Management Section Council
Law Practice Management January open meeting
The LPM Section will be holding at open meeting on fee
agreements on Thursday, Jan. 13 from 5:30 to 7 p.m. at the MBA, 20
West St., Boston. Audrey Heidt, a co-chair of the
Solo & Small Firm Committee of the Women's Bar Association will
moderate a discussion on fee agreements. The Women's Bar
Association recently hosted a number of fee "circles" and Heidt
will be providing us with the results. All section members are
invited to attend, bring copies of their fee agreements and
participate in this informal discussion of fee agreements and fee
structures.
How to manage your malpractice insurance costs
by Terry Welsh, president, Massachusetts Bar Association
Insurance Agency
When looking at ways to manage your malpractice premiums, firms
should consider ways to understand both the financial exposure to
loss that they face and balance that with the premium that needs to
be paid. The goal of the insurance policy is to transfer the
financial risk, excluding the deductible selected, to the insurance
company. So, what are some ways to help firms manage their premium
costs? Here are some simple but effective steps that can guide you
to manageable insurance premiums:
- What is your deductible? The higher the deductible, the lower
the premium. Think about what you can reasonably afford to pay out
of pocket if an allegation is made against you.
- What are your internal controls? Insurance companies want to
see that you are helping minimize your risk by attending CLE's in
your areas of practice. They also want to see that you have an
effective two types of docket system that are cross-checked
regularly against each other. Both of these risk management tools
will have a positive effect on your premium. Historically, 25
percent of all claims occur because someone failed to do something
on a timely basis. Clearly that type of loss is preventable.
- Should you sue your client for your fee? Again, historical data
says that in nearly 100 percent of the cases where a firm sues for
fees, they get a malpractice claim right back at them. Keep your
retainers up to an appropriate level, stay on top of your billings
and communicate with your client on a regular basis. These simple
steps help you stay engaged with your client and helps them to
understand how their case is progressing. Being sued for a fee can
increase your premium so balance the amount you are owed against
your deductible and weigh that against the impact to your
practice.
- Do you send your client an engagement letter and when you
decline to take a case do you send a disengagement letter? Suits
from both of these will cost you your deductible and can increase
your premiums. Setting expectations in an engagement letter help
reduce claims. Disengaging properly helps to also limit your
exposure to suits where a potential client "thinks" that you are
their lawyer.
- Are your areas of practice reflected properly in application?
There are areas of practice that generate more losses and thus
produce higher premiums. Take a few minutes when completing your
renewal application and really look at your practice to make sure
that if your practice has changed that you reflect those changes in
your application.
- Do you change insurance companies every few years? The
insurance company wants to see stability and changing your company
every year or so can cause them to increase the premium due to this
perceived instability.
Be timely with the submission of your application, pay the
premium when due and then focus on building a law practice that
utilizes the premium management strategies above. These few steps
will help you minimize your risk of a claim and make your firm more
attractive to an insurance underwriter.
Interested in learning more about another MBA section?
Check out upcoming section open meetings
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Individual Rights &
Responsibilities Section open meeting
What's Bullying? Emerging Trends in
Civil And Criminal Law as to the Anti-Bullying Law
Wednesday, Feb. 9, 4-6
p.m.
MBA, 20 West St., Boston
The Individual Rights & Responsibilities Section Council is
sponsoring an open meeting for MBA members on Wednesday, Feb. 9
from 4 to 6 p.m. at the MBA, 20 West St., Boston, on the topic of
bullying. What's Bullying? Emerging Trends in Civil And
Criminal Law as to the Anti-Bullying Law is designed to
educate lawyers on the recently passed anti-bullying legislation
and how it will affect victims and potential clients, including
individuals, schools and municipalities. Attendees will learn how
individuals and others are affected. Frank A. Smith
III, Individual Rights & Responsibilities Section vice
chair, will moderate the discussion. Guest speakers include:
Hon. Bettina Borders, first justice, Bristol
County Juvenile Court, Hon. Mary Dacey White,
associate justice, Lynn District Court, attorney Richard
Cole, attorney John Davis and
Arline Isaacson, co-chairwoman of the
Massachusetts Gay and Lesbian Political Caucus.
Discussion topics will include:
- Model bullying prevention and intervention plans;
- Academic and non-academic activities and who is affected;
- Practices and procedures for reporting and responding to
bullying and retaliation; and
- Role of the court and lawyer.
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Save the date: Immigration Section
Council open meeting
Ask the Experts: Legal Ethics For
Immigration Practitioners
Thursday, Feb. 10, 5:15-6:45
p.m.
MBA, 20 West St., Boston
Tentative speakers: Anne S.J. Kaufman,
Esq., director of the Attorney Client Assistance Program and Stacey
Best, assistant Bar Counsel of the BBO.
The topics will include: Who is the client? Issues and cautions in
joint representations in family and business matters; Use of IOLTA
for costs and filing fees due to the Immigration Service,
retainers, co-mingling funds for fees and costs; Mandatory
reporting of alleged ethical violations; Any other matters that the
BBO sees as an issue; and Current cases regarding issues in
immigration practice.
The MBA is on Facebook, Twitter and LinkedIn
Join the conversation today
The Massachusetts Bar Association now has a presence on three
social networking platforms, including Facebook, launched in October 2010, LinkedIn, launched in January 2010, and Twitter,
launched in July 2009. All three social media platforms feature
information about the MBA including CLE, events and news.
As an MBA member, we encourage you to both post items of
interest to you, and the greater legal community, on these pages
and comment on items already posted.
Put your name out there
The goal of section councils is to offer members opportunities
for professional growth and development through participation in
section activities. One opportunity available to section members is
publishing articles which are of interest to fellow practitioners.
The MBA provides several forums for articles by section members -
Lawyers Journal and the Massachusetts Law Review.
If you are interested in writing an article for any of these
publications or if you have seen articles which you think may be of
interest to other Law Practice Management Section members, please
contact
Jean Stevens for more information regarding this
opportunity.
Save the date: 2011 MBA Centennial Conference
Mark your calendars to join us on May 18-19
The Massachusetts Bar Association's 2011 Centennial Conference
will be held at the Boston Sheraton on Wednesday, May 18 and
Thursday, May 19 and will feature:
- House of Delegates meeting;
- Access to Justice Luncheon;
- Centennial Ball;
- Continuing Legal Education programming; and
- Bench/Bar panel and more.
Look for additional information in e-Journal, eBlasts,
Lawyers Journal and on the MBA's Web site.