Law Firm Financial Management

Why is it so hard to save for “attorney retirement” while you’re building your own firm? You started your practice to have more control, freedom to choose certain clients (and fire others) and potentially, make more money. ...

How much should you actually save for retirement? Everyone from your brother-in-law to your favorite (or least favorite) financial pundit has a view. But, are those opinions even remotely accurate? As opposed to pontificating about retirement ...

In an earlier post, "Money Management Tips for New Associates," we focused on how freshly minted lawyers can start their financial life on the right foot. Now let's fast-forward a few years and consider some guidance for mid-level associates and ...

Back in January 2017, I was having breakfast with a local lawyer when he said, “I think I need to raise my rates this year. I am just not making enough money, and raising my rates should make the year more profitable.” This led me to ask, "Do ...

ZokuVault is a virtual safety deposit box for estate planning information. Which makes sense, because all the things people used to place in safety deposit boxes are now mostly virtual items: bank accounts are electronic, so are documents. The ...

Some lawyers choose to limit overhead by working from home. They may arrange for supplemental virtual services and conference room access. While not every practice area may lend itself to working from home, technology has made this a more common ...

With LawPay, you get the tools you need to manage earnings and cash flow, and track key financial metrics. LawPay’s new reporting dashboard lets you see where your firm’s payments stand at a glance. Quickly and easily see where revenue is coming ...

Think back 10 or 11 months … remember your New Year’s financial resolutions? Save more, spend less, be smarter with taxes, and construct a succession plan for your practice — we all made them. Then, client demands, partner requests, deal ...

Lawyers typically hate numbers like cats hate water (or  Larry Port - December 14, 2015

It happens to every lawyer—although hopefully not too often. You propose or quote a fee to a client or prospective client and are greeted with a response such as “I can’t afford it” or “How can you have the nerve to charge that?” When that ...