We found 2,062 results for "Accounting and Financial Planning for Law Firms"...
Why Your Financial Specialist Should Be Independent
August 29, 2007
Over the years, matrimonial lawyers everywhere have increasingly embraced the concept of working with experienced, credentialed professionals who specialize in the financial aspects of divorce. Originally, most of these specialists were Certified Public Accountants and the work was mainly of a forensic nature. Recently, however, we have seen an increase in the involvement of professionals whose background is in the financial planning arena. Today, among other tasks, the planner is often retained to examine the longer-term impact of settlements and answer the client's question: 'Will I be okay financially?'
Business Development Will Dominate Marketing
August 29, 2007
In the real business world, marketing and business development functions co-exist ' albeit uncomfortably at times ' in a more or less equitable partnership that sees them working toward common objectives but living on separate islands. In the somewhat more surreal world of BigLaw business, the functions tend to live together but, all too often work at cross-purposes. And therein lies a budding tale. Who is best suited to lead the firm, at least until the next, next thing comes along? The answer seems clear. There's a new sheriff in town. Its name is business development.
Pensions and Restitution
August 29, 2007
Being a white-collar defendant is very expensive. Just the cost of putting up a serious defense is more than most business executives can bear, and whether companies must pay their ex-employees' legal fees has been hotly litigated in the much discussed KPMG tax shelter case in the Southern District of New York. Meanwhile, an important <i>en banc</i> decision of the Ninth Circuit addresses the financial impact on individuals at the other end of the criminal process: whether pension trust funds may be reached to satisfy a criminal judgment of restitution.
Anatomy of an IP Theft
August 28, 2007
Matters related to intellectual property ('IP') have become so common in our e-discovery and computer-forensics practice that when we tell our staff there's a new matter requiring our attention, the general response is typically: 'Let me guess ' another company where a former employee has left for a competitor or created a startup, and allegedly stole the company's key intellectual property to get a head start.' From that point, we delve into another adventure to hunt down the next smoking gun and, in some instances, the silver bullet.
Changes to Retiree Health Benefits
August 28, 2007
Changes in accounting rules, spiraling health-care costs, increased competition and changing demographics converge to make it economically infeasible for some employers to continue providing such benefits at the generous levels of years past. Consequently, many companies have been compelled to modify their retiree health plans in ways that reduce or eliminate some benefits or that require retirees to pay more out of pocket. These changes have resulted in an avalanche of litigation.
Federal Contractors and Executive Order 11246
August 28, 2007
This past year has seen a flurry of activity under Executive Order 11246 ('EO 11246'), the law that governs the administration of affirmative action programs of employers that have certain government contracts or subcontracts. In the wake of these new changes, this article offers suggestions of best practices relating to one of the most noteworthy developments for EO 11246 compliance: the 'Internet Applicant' rule, which became effective on Feb. 6, 2006.
Support Modification: Overview and Update
July 31, 2007
In the past few years, more requests for modification of a child support obligations, either upward or downward, have been denied than granted. With regard to the cases in which an upward modification was denied, the courts have been reluctant to find that the party seeking to modify the child support obligation has established that any claimed change in circumstances was unanticipated or that the children's needs were not being met.
Ruling Signals Change in French Tax Treatment of LLP Distributions
July 30, 2007
Earlier this year, the French authorities signaled that a welcome change may be afoot in the tax treatment of distributions from UK LLPs under French law. (Most U.S. firms operate in France through the UK, unless they are grandfathered and in practice in France since the early 1990s.) This article discusses the scope of the ruling and its ramifications for UK firms considering a LLP conversion or those already in or contemplating alliances with French firms.
Unfunded Retirement Plans: An Ongoing Problem
July 30, 2007
During the past year, we witnessed a marked increase in the number of law firms, both large and small, which are finding that their existing unfunded retirement plans are becoming significant, disruptive forces. The underlying problem created by these plans is that the plans result in current income being diverted to former partners, thereby reducing the compensation of the remaining active partners. Today, the combination of an expected spike in retirements related to the baby boom generation and, for many firms, greatly increased benefit exposure due to sharp increases in firm profitability that is factored into the value of retiree benefits, stand ready to test the financial viability of even the strongest firms.
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