A Guide to Succession Planning for Lawyers
Succession planning is a crucial facet of any law firm. As accomplished attorneys approach retirement or an attorney faces a sudden change in the ability to continue to practice law, having a well-conceived plan in place safeguards the continuity of the attorney’s practice and sustains client confidence. In a law firm setting, succession planning comprises […]
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Avoiding the Unintended Client
Handling the ramifications of and sidestepping situations arising from an unintended client is an ethical obligation. Attorneys are often presented with questions from friends, family members, business acquaintances, or even strangers through firm websites and social media. However, these raise a real risk. Sometimes in these settings, the attorney will fall into an unintended attorney-client […]
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Know the Risks: Being On Your Client’s Board of Directors
It can be very gratifying, both personally and monetarily, to be asked to serve on a client’s board of directors. It is also easy to understand why a client might make the request. The attorney may have worked closely with the company’s founders to create the business and will likely have a solid grasp of […]
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Office Sharing and Avoiding the Risk of a Malpractice Claim
With the combined expense of actual office space, staff and equipment, many lawyers choose to enter into an office sharing arrangement as an economical way to hang out their shingle. Although there may be initial cost-saving benefits, there are disadvantages to sharing offices with other professionals, such as increased exposure to bar grievances or malpractice […]
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Avert Controversies With an Engagement Letter
One of the best instruments for an attorney to protect himself or herself from a malpractice lawsuit is a well-drafted engagement letter. The engagement letter is frequently disregarded by attorneys – instead, the attorney opts to just engage in a verbal agreement. However, a written engagement letter can be critical to both preventing and defending […]
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What to Consider When Your Client May Have a Diminished Capacity
When OAMIC receives a claim involving an estate, whether that is a trust document or a will, the issue often is was the client competent at the time the estate document was executed? The lawyer should be careful to fulfill continuing commitments to the client both to represent their interest and, in some situations, to seek […]
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Statute of Limitations and the Oklahoma Governmental Tort Claims Act
Every year, it seems we have at least one claim that is the failure to provide timely notice under the Oklahoma Governmental Tort Claims Act, 51 O.S. §151 et seq. Usually, we see this problem in the context of a claim against a medical provider, such as an ambulance service or even a hospital. By […]
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Claims: Not If but When
The thought of a legal malpractice claim is stressful and unnerving. The truth is, however, lawyers should expect two to three claims in their careers, according to the American Bar Association. It’s not usually a matter of “if” it will happen – but “when.” Even if the claim doesn’t have any merit whatsoever, it still requires attention. […]
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How To Exercise Proper Due Diligence Before Closing the Doors to Your Law Practice
Walking away from a law practice is not as easy as turning off the lights and locking the door. It takes a bit of planning. The more organized your office is, the simpler those steps will be. If you already have a procedure to produce a list of client names and contact information for all […]
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RECENT CLAIMS: Wire Transfer Scams
Lately, we’ve had a series of insureds who have called us because they have fallen victim to a wire transfer scam. Read below to learn about the most common scenario we see, what you should look for to prevent becoming a victim, and coverage information. Scenario Attorneys are an easy target for wire transfer scams […]
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