The ABA likes to believe that its ethics opinions carry the weight of law. If that be the case, and if ignorance of the law is no excuse for violating the law, how can one know the law if it’s not disclosed?That would be like saying that 35 miles per hour is the maximum speed limit, but not telling anyone about the limit. In fact, speed limits are written into the Vehicle Code and posted on the streets. Shouldn’t there be the same disclosure required of the ABA?
By attempting to copyright its opinions, and thereby restricting their distribution, it seems the ABA doesn’t think so. But, then, I guess the ABA is "super" law.See more.
In an earlier blog post, I talked about creating a digital estate plan. A family law attorney speaks of preserving what you already have posted in social media. She suggests that taking down what you have posted in advance of litigation, family law or otherwise, may be the destruction of evidence and a crime!
There is more to the internet than most of us ever imagined. Walk (or type) carefully. The life you preserve may be your own.
I’ve talked about a lawyer having an estate plan. I’ve talked about creating an estate plan for your law practice; this is an idea first generated by Ellen Peck, retired judge of the California State Bar Trial Court. Now, there is another estate plan to prepare: Digital.
What are you going to do with all your passwords, all your email accounts, all your accounts in social media and all your other accounts that reside in the internet?
Your virtual life doesn’t end just because you die. And in some arenas, the material you have on the internet cannot be removed or taken down. You may even have money residing in some of the internet residences such as PayPal, on-line gambling accounts, etc. Be sure to appoint or designate someone to be responsible for dealing with these issues. Be sure to write down all the accounts and passwords. And be sure to contact such companies as LinkedIn, Facebook, Google, etc. to comply with their policies.
There is little or no case law to date about planning for digital assets after death, and certainly no precedent of which I’m aware on this. But, for just that reason, it’s time to think about these issues.
Ed discusses the factors that influence collection success. Client selection: you have to get the right client. You must understand the wants and the needs of the client. You have to get confirmation of the arrangement between you and the client in writing. And, check the client’s credit.
77% of professional services mobile device users agree that their company would lose competitive ground without mobile devices. This, according to a survey conducted by CDW, distributor of computer and related equipment.
Irrespective of the actual percentage, it is clear that mobile devices such as the mobile phone and new tablets, not to mention laptops, are critical to the operation of most law practices today.
And Apple today announced that it will soon be releasing a smaller version of the iPad. What’s next and why?
Under current law, clients’ trust accounts are protected under the IOLTA program. The FDIC provides unlimited insurance coverage.
However, unless extended by Congress, beginning January 1, 2013, such unlimited coverage will terminate and the new limit will once again be $250,000 per depositor. All funds held in such trust accounts as well as all funds held, personally, by the same client in the same institution will be considered in the $250,000 limit.
Be careful and review your bank’s regulations and the funds you are holding for the benefit of your clients. Watch Congress for any "lame duck" laws on this and the FDIC and its responsive regulations. You may have to split clients’ funds into two or more banking institutions in order to keep his/her money insured. And you may once again have the responsibility of checking on the financial soundness of the banking institution in which you maintain your clients’ trust account.
Yesterday, I watched the Richard Gere film, Aribtrage. The film portrays a successful billionaire’s moral decline as he attempts to save his failing company from his poor decisions. He "cooks" the company books by borrowing money that is not shown on the books as such in order to keep up appearances in order to complete a sale of the company, falsifies investors reports and otherwise plays "loose" with the truth. This is a man in trouble, but Gere continues to exude confidence in order to reach his goal.
Coincidentally, in today’s Wall Street Journal, reporters once again discuss the Dewey & LeBoeuf LLP demise. Prosecutors are still questioning whether there was deception about the financial condition of the firm in the last few months. Were partners told the truth, were they given accurate financial reports, and were the firm obligations to pay down outstanding debt on behalf of terminated partners honored? And, were the transgressions that did occur a matter of a struggling business doing what it could to survive or a matter of criminal and/or civil fraud?
As a matter of "black letter law," it’s clear that management (managing partner and management committee members) owe a fiduciary duty to others — investors, lenders and partners. Did they breach this duty? How close to Arbitrage did the leaders of Dewey come?
