In the world of law firm management, partner compensation is often viewed as just a paycheck or a percentage of firm profits. However, this view misses the true depth and complexity behind par… Read More
Business of Law
I recently spoke to a lawyer who was representing a client in a litigation matter. The client had fallen on hard times and was having trouble paying basic living expenses. The lawyer had a gen… Read More
Business of Law
When it comes to determining partner compensation, the debate over whether to use a strict formula or take a more subjective approach has been long-standing. On the surface, a formula-driven c… Read More
Lawyers Mutual congratulates Tricia Shields for receiving the prestigious John B. McMillan Distinguished Service Award from the North Carolina State Bar. Tricia is a highly respected tri… Read More
Practice of Law
I read recently that Brene Brown, when asked to commit to a future activity, turns her ring in a circle three times to pause and ground herself before answering. This caught my attention. How … Read More
Law Practice Management
Rule 1.1 of the North Carolina Rules of Professional Conduct requires a lawyer to have the “legal knowledge, skill, thoroughness, and preparation” necessary to represent a client i… Read More
Practice of Law
I frequently get calls from lawyers who have been asked to draft testamentary documents for elderly clients who are struggling with serious and sometimes terminal physical health issues and/or… Read More
For lawyers handling real estate closings, it’s important to know that seller fraud continues to rise, especially with the upcoming holiday season when distractions are high, and fraudsters are active.
Lawyers Mutual has published previous alerts regarding the new filing requirements under the Corporate Transparency Act (“CTA”) that went into effect January 1, 2024. After reviewing additional resources, we want to emphasize concerns that we have about the risks and increased potential liability for lawyers undertaking the reporting requirements. This is especially true for the continuing reporting requirements after entity formation and initial reporting.