Q. After lengthy litigation, we recently collected a large outstanding bill from a client who filed a frivolous counterclaim against us for malpractice. To prevent this from happening again, may we require binding arbitration in future retainer agreements?
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Posts on Managing Law Firm Finances and Protecting Client Funds
Q. I'm ashamed to admit that I don't know how to balance my own checkbook. Knowing that banks are reporting overdrafts to the grievance board, I'm terrified of bouncing a check on my trust account. May I keep some extra money in the account just to be safe?
Q. I may not have enough business to justify a credit card merchant account. But apps like Paypal and Venmo let my clients send fees and retainers online. Are such payments allowed?
Q. I charge an "engagement fee" in divorce cases. My retainer provides that this $1,000 fee is "non-refundable" and "earned upon receipt." If nothing else, this ensures that I won't represent the other side. Must I put this fee in my trust account?