Articles

LawBiz® Legal Pad: Record Management

One of the most stressful issues for lawyers and their administrators is how to manage old files that pile up. Today, Ed will share some advice on what can be done to save space – and money!


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A call to inaction!

Elio Martinez, a friend, makes a good point. Perhaps we need our day of national election to be a national holiday. This may tell us (and the world) that this is an important day, that we should focus on our decision more than we do, and that we are very serious about the decision we make on this very important day.


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What is the most feared word in the English language?

At the end of the day, the value of our law practice is based on our success and the many people we have touched over the years. This is a significant legacy we will leave on retiring from the practice. 

Most lawyers all around the country with whom I’ve spoken don’t understand this and can’t comprehend even the possibility that their many years of effort may actually have produced a monetizeable value of some significance. This value can enhance their retirement. It is a challenge to overcome such deep-seeded beliefs among many Baby-Boomers as they get ready to move on to their second season. This is the difference between personal goodwill and organizational goodwill. There is more of the latter than most people believe.

My conversations have convinced me that the most feared word in the English language is “retirement.” That may contribute to the refusal to consider an alternative to closing the office; we will maintain our office and work until our last breath. It is possible, however, to do both! The sale or merger of your law practice, rather than the closing of the office, should be an alternative that is kept open for your consideration.

 


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New Fellow of the COLPM

The College of Law Practice Management met this past week to welcome 18 new inductees as Fellows of the College. Carolyn Elefant, one of the inductees, is shown here with Ed who was pleased to support her entry into the College.

 


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