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The attorney-client relationship is not one that always ends well. The client is able to discharge the attorney at any time, but outstanding legal fees must be addressed. The retainer letter should address the issue of outstanding legal fees and expenses or the contingency fee arrangement. Normally, the retainer letter provides that the client is responsible for all reasonable fees and expenses incurred to the termination date. If the fee arrangement is changed during the representation, the court will closely scrutinize it. The former client may not promptly pay the agreed-upon outstanding legal fees or may claim the revised fee or contingency schedule was made improperly or under duress.
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By Sharon Meit Abrahams
As a firm leader it is your fiscal responsibility to address underperforming attorneys. With COVID-19 are your underperformers flying under the radar? The cost to a firm is not only to the bottom line, but to your reputation as a leader.
By Christopher Zegers
We’re never going back the way we were — and this will be to the benefit of firms, profitability, clients and lawyers if we make the right technology investments. Here’s some specific ways firms can capture these benefits.
By Sidney Kess
A key aspect of saving for retirement through qualified retirement plans and IRAs is deferring taxes until required minimum distributions (RMD) begin. Even with Roth IRAs, beneficiaries who inherit them must also follow RMD rules despite the tax-free treatment of the distributions. The SECURE Act and the CARES Act made dramatic changes in RMD rules for 2020 and beyond.
By Dan Packel
Some Firms Are Forming Subsidiaries to Deliver Legal Services In New Ways
Buyers have a broader slate of options in 2020 than ever before, whether that means handling more work in-house, hiring temporary lawyers during a crunch, or turning to a recently launched “alternative provider” to address the massive pile of contracts they need to manage.