From our friends at NW Sidebar, seven steps you should take now to get your 2020 financials organized:
It’s that time again! Not just for holidays and eggnog, but also taxes, 1099s, and other year-end financial must-dos. And after the year we’ve had – what with PPP loans and unplanned expenses – the process will be more complicated than ever. If we set aside just a few minutes to organize our year-end now, we’ll find ourselves much less stressed when the new year and tax deadlines roll around. This practical, step-by-step guide will set you and your firm up for a year-end win and success in 2021.
COVID, wildfires, court operations, and closures dominated headlines and our lives. So did the tech world, the hard work of staying productive, and not letting the stress of it all get to us.
Hopefully you found some useful posts in 2020. If you’ve been battling procrastination, there is help. If you need to jump start your marketing, I did a four part series in July. If collecting fees has been … challenging … I have a few suggestions. Here’s a recap of substantive topics covered in the past twelve months. And here’s to 2021!
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In a case of first impression, the Idaho Supreme Court recently held that fee disgorgement is available as a remedy against a lawyer for breach of fiduciary duty even if there are no resulting damages.
Parkinson v. Bevis, 448 P.3d 1027 (Idaho 2019), involved comparatively simple facts: A lawyer representing plaintiff Rebecca Parkinson in her divorce proceedings shared a confidential attorney-client communication with opposing counsel. In a subsequent lawsuit against the lawyer, Parkinson conceded that she was not damaged by the unauthorized disclosure—instead framing her claim as one for breach of fiduciary duty seeking fee disgorgement as a remedy. The trial court dismissed the claim, but the Idaho Supreme Court reversed.
The Idaho Supreme Court first distinguished breach of fiduciary duty from legal malpractice: “A breach of fiduciary duty claim is an equitable claim for which a defendant may have to disgorge compensation received during the time the breach occurred, even if the plaintiff cannot show actual damages.” 448 P.3d at 1033.
You don’t really have to choose, because in 2020 you’ll see posts on all these topics and more!
STREAMLINE YOUR PRACTICE IN THE NEW YEAR
We begin the year with a Fresh Start. If you’ve ever felt disorganized or overwhelmed, this post is for you. No habit or office system is written in stone. You can make adjustments, update your practices, or create new procedures. For a kickstart, visit this blog next Monday.
Collecting fees is a battle every lawyer fights. We’ll start the new year with a deeper understanding of fee agreements, billing, and collections.
BETTER TECH FOR EVERYONE
Every year brings new tech tips, gadgets, and websites worth your time and investment. If you just can’t wait, check out 2019’s Technology Tips for Busy Legal Professionals, featuring workflow automation, the importance of practice management integration, better email management and document drafting with apps, ink-to-digital notebooks, specialty legal keypads, smart conference room cameras, how to create a free online business profile, ethically-compliant business texting, online contract lawyering resources, AI-powered legal research, and more.