Raising the Bar Archives | Page 6 of 19

2 10, 2012

Would a Virtual Law Office Work for You?

2019-04-01T20:55:07+00:00By Debra L. Bruce, JD, PCC.|4 Comments

Rania Combs is a wills, trusts and estates lawyer, licensed in Texas since 1994. When her spouse got transferred to North Carolina, she examined her options for practicing law there. Opening a virtual law office seemed like the solution to a challenging circumstance. She launched her virtual practice in January 2010.

Many lawyers may wonder whether a virtual law office would solve their problems, too. Here are some examples of why they might be considering it:

• Newly licensed attorneys may want to avoid the overhead and long-term commitment of a traditional brick and mortar office.
• Experienced lawyers may want to expand the geographic reach of their existing practice to garner more clients.
• Many lawyers have a thriving practice in a smaller town, but have difficulty finding locally the high caliber legal talent they need to help handle the work flow.
• Family obligations or other circumstances make it difficult for some attorneys to keep traditional office hours.
• For some attorneys, the international scope of their work demands technological innovation to serve client needs.
• Some attorneys just long to escape the snow in the winter or the heat in the summer without interrupting their law practice. […]

17 09, 2012

Systematize to Optimize Your Legal Practice – Part 3

2019-03-11T22:13:59+00:00By Debra L. Bruce, JD, PCC.|2 Comments

In this issue of “Raising the Bar”, Debra L. Bruce continues with the final part of her series which addresses how law office systems work to provide improved efficiency, increased quality control, and cost reductions. Part 1 focused on “Why Systems Matter”, Part 2 introduced “How to Employ Systems”, and this final part continues with some additional steps to “Employ the Systems”. If you missed Parts 1 or 2, follow the links on our blog to read them.

1. Stop recreating redundant letters and emails. All lawyers have forms as starting points for longer documents like interrogatories or purchase and sale agreements. Many continue to prepare common emails and letters from scratch, however. Even if they will need some customization, design forms for frequent letters and emails. Begin with one you have already written, or the next time you write one, save an extra copy of it in your forms folder. You’ll be able to whip out future emails more quickly, or let your assistant do the first draft for you to edit. Email forms can be saved in the drafts folder in Outlook (or another email program) for a quick copy and paste into a new email. […]

11 09, 2012

Systematize to Optimize Your Legal Practice – Part 2: How?

2019-04-01T20:56:55+00:00By Debra L. Bruce, JD, PCC.|3 Comments

In this issue of “Raising the Bar”, Debra L. Bruce continues her three-part series with a starting point to employ systems. The series addresses the creation of law office systems for increased efficiency, improved quality control and cost reductions. As a bonus, systems help lawyers to focus on and enjoy their law practice more.

How to Employ Systems

Now that you have been persuaded that it would be worthwhile to develop and document some systems, how do you get systems in place and how do you use them? You’re probably already struggling to get all your own work done or trying to cut down your nonbillable time. How will you ever get around to creating systems?

Have each staff member create a desk manual.

Ask them to spend a few minutes each day documenting the tasks they do repeatedly and the steps involved. In a couple of months, you will have a manual, without extraordinary effort on anyone’s part. […]

5 09, 2012

Systematize to Optimize Your Legal Practice – Part 1: Why?

2019-04-01T20:57:54+00:00By Debra L. Bruce, JD, PCC.|Comments Off on Systematize to Optimize Your Legal Practice – Part 1: Why?

In this issue of “Raising the Bar“, Debra L. Bruce presents the first of a three-part series addressing the creation of law office systems for increased efficiency, improved quality control and cost reductions. As a bonus, systems help lawyers to focus on and enjoy their law practice more.

Image credit: thingamajiggs / 123RF Stock Photo

Why Law Office Systems Matter
Increased competition, downward pressures on fees, and elevated client expectations require lawyers today to respond faster while maintaining high quality. Law firms and individual attorneys need structural aids to improve productivity and assist in quality control. Systems let lawyers spend more of their time on the high level, challenging work they enjoy most. […]

24 07, 2012

Negotiating with Belligerent Opposing Counsel

2019-04-01T21:00:19+00:00By Debra L. Bruce, JD, PCC.|2 Comments

Initially, I tried letting him vent. When he wound down and I responded, however, he launched into another ear-splitting tirade. In a very calm voice, I said, “I’m going to hang up the phone now. Call me back when you have calmed down, and we can discuss it further.” I pushed the disconnect button.

The phone rang immediately, and the screaming began again. I responded calmly, even gently, “I’m going to hang up again. Call me back when you calm down.”

The third call began with him yelling, “Stop treating me like a child!”
“I will,” I reassured him, “when you stop acting like one.” I quietly hung up again. […]

17 07, 2012

Have You Noticed What Siri Can Do for a Solo Attorney?

2019-06-25T16:28:02+00:00By Debra L. Bruce, JD, PCC.|Comments Off on Have You Noticed What Siri Can Do for a Solo Attorney?

The iPhone 4S added a much advertised voice-activated feature called “Siri,” which performs tasks that legal blogger Ernie the Attorney called “purely magical” because Siri allows you to avoid typing on that tiny keyboard. Lawyers can speak to Siri to transcribe dictation into an email, a text message or a document. Siri can do web searches or answer any question that the WolframAlpha.com website can calculate. Siri can provide weather forecasts and locate nearby office supply stores or other retail establishments for the lawyer on the go. You can ask Siri what time your dinner engagement is tonight, and then Siri can call your spouse so you can say you’re running late…again.

A busy lawyer can use Siri a bit like a personal assistant that keeps track of your appointments and answers questions you don’t have time to look up. That assumes, of course, that Siri understands you and you get an adequate signal wherever you are. […]

22 05, 2012

Sample Partnership Agreement Provisions Respecting Compensation – Appendix A (Part 7 of 7)

2019-03-20T21:00:29+00:00By Debra L. Bruce, JD, PCC.|3 Comments

This is the Appendix A mentioned in the previous seven articles 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, in Part 3 the Executive Committee Monarchy, in Part 4 the regular Lock Step, in Part 5 the Modified Lock Step, and in part Part 6 the Eat What You Kill structure. Appendix A provides an example of some partnership agreement language in a Modified Lock Step compensation system.

APPENDIX A
to Partnership Compensation Plans

Selected Provisions Of
Agreement Of Limited Liability Partnership
Of
A & B, L.L.P.
[Not Intended As A Complete Partnership Agreement]

This AGREEMENT OF LIMITED LIABILITY PARTNERSHIP of A & B, L.L.P. is entered into to be effective as of the __ day of ___, 200_,

by and among A (“A”) and B (“B”) (collectively, the “Partners”) pursuant to the provisions of the [State] [Partnership Law], and according to the terms and conditions set forth herein.

NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS: […]

21 05, 2012

Partner Compensation Plans – The Eat What You Kill, EWYK (Part 6 of 7)

2019-03-11T22:21:00+00:00By Debra L. Bruce, JD, PCC.|2 Comments

This is the 6th 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, in Part 3 the Executive Committee Monarchy, in Part 4 the regular Lock Step, and in Part 5 the Modified Lock Step.

Eat What You Kill (EWYK)

Description
Each lawyer’s compensation is based on the revenues she generates. Usually there is some kind of formula that attempts to account for overhead, and then distributes all remaining profits to the lawyers based on their collections. In some systems a flat dollar amount is determined for overhead per lawyer, by dividing up the sum of fixed and predictable expenses, such as rent and shared staff salaries. Everything the lawyer bills and collects in excess of the fixed overhead figure gets paid to that lawyer after subtracting certain firm expenses directly associated with that lawyer such as business development expenses, retirement plan contributions, and salaries of staff or associates who work mostly for that attorney. In that model the firm is more akin to an office sharing arrangement than a partnership.

A variation of the EWYK model does provide for sharing of risk. The firm’s profits are determined, and distributed in accordance with a formula that averages the collected revenues attributable to a partner over multiple years (usually two to four). The averaging slightly shaves off peaks in income, to provide support from partners on the upside of […]

18 05, 2012

Partner Compensation Plans – The Modified Lock Step (Part 5 of 7)

2019-06-25T16:27:46+00:00By Debra L. Bruce, JD, PCC.|2 Comments

This is the 5th 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, in Part 3 the Executive Committee Monarchy, and in Part 4 the regular Lock Step.

Modified Lock Step

Description
Many firms have modified the lock step model to allow a committee to subjectively reward or punish behavior. The modification helps the firm to encourage essential behaviors such as business development, high productivity, recruiting, training and mentoring associates, management, and client relationship maintenance. It also provides the flexibility to bring underperforming partners into line, without having to completely expel a partner.

Some of the modifications may include the ability to promote a partner to a higher level earlier than the other classmate partners, or demote a partner to a lower level. There may also be a “slush fund” for allocating bonuses to reward desired behavior. Appendix A to this article (which will appear in Part 7 of the seven-part series) contains an example of provisions that might be included in a modified lock step compensation plan. The author extends her gratitude to Bill McDonald, a partner at Thompson & Knight LLP, whose practice includes advice on law firm formation, for the provisions included in Appendix A.

In Appendix A, the agreement provides for seven lock step levels, but permits the management committee to assign each partner to the appropriate level […]

17 05, 2012

Partner Compensation Plans – Lock Step (Part 4 of 7)

2019-03-11T22:32:20+00:00By Debra L. Bruce, JD, PCC.|3 Comments

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 Committee Monarchy.

Lock Step

Description

This model is used mainly in large, stable, well-established firms that have a lot of institutional clients. It rewards seniority. Usually, all of the lawyers who become partners in the same year are a class, and make the same compensation. The class as a whole receives an increase in points, which are the basis of allocating profit distributions, when they are elevated to the next level. Typically, the spread between the salary of the highest paid partners and the lowest paid partners is not that large – 3 or 4 to 1 is not uncommon.

When It Works Well […]

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