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Sponsored by Lorman Education
Product ID: 406760EAU
 
Credit & Course Provided by:

How to Assure You Get Paid: The Process That Works

OnDemand Webinar (60 minutes)

Strategies to ensure law professionals are paid fairly and on time.Nearly all private practice attorneys work for a fee. Whether that fee is hourly, contingent, or flat, nearly all attorneys require payment for their services to survive. Yet, very few attorneys can claim a 100% realization rate on their fees charged (a fancy term for defining what percentage of your billed work is ultimately paid). Whether it was a failure to observe red flags with the client during intake, or failure to properly monitor the accounts receivable during the representation, many holes exist that, if plugged, would increase an attorney's realization rate. This topic will assist in identifying these issues and provide recommendations on how to remedying them. In addition, this information will identify some ethical issues that can arise relating to fee agreements. The material will conclude with a description of the process to undertake if a client fails to make their agreed upon payment for legal services.

Authors

Jefferson Hayden, Gammage & Burnham, PLC

Agenda

Overview

Client Intake

• Engagement Letter

• Budget

• Retainer or Advanced Fee Deposit

Ethical Concerns With Fee Agreements

Communication With the Client

• Timely Billing

• Timely Follow-up on Receivables

Internal Safeguards for Monitoring Receivables

• Policies

• Automated Alerts

Enforcement

• Withdrawal as Counsel

• Collections Efforts