LPM Newsletter

Colorado Bar Association | Law Practice Management Newsletter
C-Brief | A Publication of Colorado Bar Association | Email Newsletter
CBA LPM | Email Newsletter
Wednesday, June 21
In This Issue
Tech Tuesdays
Modern Law Practice Initiative Book Club
Quick Links
Law Practice Today
Law Practice Today is a monthly digital publication of the ABA’s Law Practice Division and it focuses on the practical side of being a lawyer. If you’re interested in receiving the monthly issue of Law Practice Today, the CBA has an arrangement with the ABA’s Law Practice Division to make Law Practice Today available to all CBA members at no cost. To receive a complimentary email subscription to Law Practice Today, please email Sue Bertram.
Message from Reba Nance
Five Trust Account Tips That Might Keep You Out of Trouble
Here are five tips you might consider:
1. Use Different Colored Checks
Consider having different colors for your operating and trust account checks. It’s a visual clue and may save you the hassle (and exposure) of writing a check on the wrong account.
2. Be Sure Your Checks Are Imprinted With The Proper Language
According to Rule 1.15B(c) of the Rules of Professional Conduct, trust account checks and deposit slips must say “trust account” or “COLTAF Trust Account.” Rule 1.15B(a)(2) says business checks and deposit slips must say “business account” or “office account” or “operating account” or “professional account” that distinguishes it from a trust account and a personal account. Business checks that only state “Jane Doe, Esq.” are not in compliance with the rule.
3. Signatories On Accounts
More often than we realize, the danger can be from within. It’s great to be able to have a staff member sign checks from your operating and trust accounts. If you must have a staff member sign on any of the accounts, put in place a rule that checks over a certain amount require two signatures. That way, you reduce your exposure from any one incident while maintaining the convenience of someone else being able to sign on your accounts. You can prominently print on your checks “Amounts over $500 require two signatures.”
4. Have The Bank Send Statements To Your Home Address
Have statements sent to your home, and get your cancelled checks back. That way, you are the one who opens the statement and reviews the checks before anyone else. Look for any odd payees or amounts.
5. Keep Your Trust And Operating Accounts In Separate Banks
Consider putting your trust account in a different bank than your operating account. Lawyers have found, to their dismay, that banks have deposited trust monies into operating accounts by mistake. Although it may be less convenient than having all your accounts in one place, it could prove a sound choice in the long run.
Questions? Contact the CBA’s Director of Law Practice Management, Reba Nance.

Quick Tips

Product Reviews

Dealing with Tech and Its Problems
We have all gotten used to relying on our favorite tech aides – apps, calendaring programs, phone systems, etc. But what happens to our practices when they fail? Listen to the podcast.
Digital Dictation and Transcription Options
Many lawyers dictate their thoughts into a recording device, then send the recording to an assistant for transcription. This is a great time-saver for the lawyer. But the human transcriptionist today is gradually giving way to computer versions. Read more.
Tips For Complying With ABA’s New Encryption Guidance
The American Bar Association’s ethics committee published revised guidance regarding an attorney’s duty to protect sensitive client material in light of the high volume of recent high-profile hacks. Read more.

How to Competently Reinvent Your Practice
Reinvention is part of being a solo lawyer. With so many options in established practice areas and new ones being created through changes in law and through innovation, there are limitless possibilities for redefining your practice. Listen to the podcast.
How to Work the Room at Networking Events
After years of working with lawyers, I have concluded that the No. 1 most-despised marketing activity is attending a networking event. Read more.
Stop Chasing Clients and Make Them Chase You
An immigration lawyer agrees with the concept of offering more value to prospective clients but is frustrated. He says, “more than 90 percent of the people out there want free information and advice.” Read more.

On-demand lawyering is our future: What will it look like?
What would on-demand lawyering look like? You wake up, fire up the laptop or tablet and voila! Six new matters are waiting for you. Making money on these new matters is a snap. You click, read about the client’s issues and get cranking. Read more.
Ethics in the Electronic Age: Social Media Guidance for Attorneys
Have you ever considered the Rules of Professional Conduct when commenting on someone else’s Facebook post, or sharing a clever tweet, or even writing on your personal blog? If not, then you should. Read more.
What To Consider When Pricing Your Legal Services
Setting your fee schedule can feel like a daunting task especially if you’ve never done it before. Fortunately, there are methods to pricing that can help you create a fee schedule that works for your customers and your bottom line. Read more.
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