Protecting Client Trust Accounts When Banks Collapse

banks and IOLTA accounts

As if lawyers didn’t already have enough to worry about when it comes to protecting client trust accounts, add bank solvency to the list.  As the recent meltdowns of the Silicon Valley Bank and Signature Bank remind lawyers, even a bank may not always be a secure repository for client funds. Lawyers Should Understand the…

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“Hotel California” Law Firm Charged With Ethics Violations for Making It Impossible for Lawyers to Leave

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“Relax, ” said the night man “We are programmed to receive” “You can check-out any time you like” “But you can never leave!” –Hotel California, The Eagles We’re all familiar with the song Hotel California, that fictitious resort where guests are trapped for eternity.  Well, what if the Hotel California wasn’t an imaginary destination but…

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Many Regulators Have Traded In Outdated Rules on Law Firm Trade Names – Yet Most Lawyers Don’t Realize It

Post update 4/21/2021 based on comment from Will Hornsby noting that all trade name bans have been or are in the process of being eliminated. LegalZoom.  HelloDivorce.  HelloPreNup. One reason that we as lawyers know that these companies aren’t law firms is because they operate under trade names – which many jurisdictions traditionally prohibited lawyers…

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Addressing Maryland’s Biased Disciplinary Process Through Data

As management consultant Peter Drucker has been credited with saying, “If you don’t measure it, you can’t manage it.”  Regardless of attribution, the quote came to mind when I was asked to testify before the Maryland Health and Government Operations Committee on proposed legislation that would track the gender, race, and outcome of attorney disciplinary…

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Red Flags in Power Pacts

As some of you already know, on Friday, May 29, 2020, I’m scheduled to present a 90-minute webinar on Power Pacts: Agreements to Fuel Law Firm or Career Growth and Unleash New Revenue Streams  (click on the link for details or to register, click HERE. But for those of you who can’t attend, I’ve devoted…

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How Tech Competence Can Help Attract Clients

By now, 36 states have adopted some version of the ABA’s updated Model Rule 1.1. duty of tech competence which requires lawyers to keep abreast of the benefits and risks associated with relevant technology.  But there’s an even better reason than ethics compliance for lawyers to learn more about tech: to retain clients. Small Business…

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New Jersey Court Orders Lawyers to Disclose Competitors’ Billing Practices and to Use Data To Inform Clients of Likelihood of Success

Last week, the New Jersey Supreme Court granted certification to hear an appeal of the Appellate Division’s ruling in Balducci v. Cige, Docket No. A-3068-16T2 (August 30, 2018) which voided an attorney’s hourly fee agreement with a client for a discrimination action because the lawyer failed to advise the client that other firms could handle…

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