What’s Your Case Worth?
It is hard to determine or discuss case worth without knowing all the details of a potential case. Every case is unique and therefore compensation varies between cases. Just as two snowflakes are never alike, two cases aren’t either. The questions that lead to a better understanding of compensation are more universal. What injuries did […]
What to Consider When Assessing a Potential Lawsuit
Efficient case assessment begins by working backward from the client’s objective. To do this, counsel will approach litigation and other legal proceedings as occasions that present potential results and then use qualitative and measurable assessments to: Determine risk. Reduce expenses. Terminate cases as soon as practicable. Otherwise reduce or eliminate further exposure to litigation. There […]
What Can I Use My Funding Advance For?
Legal funding carries a multitude of advantages over other types of financing, (i.e. credit cards, a traditional personal loan, or even a second mortgage). Nonetheless, it has some clear benefits that help to reduce your overall risk and allow you to take home more of your total settlement. The funding advance can be a major […]
How Long Will it Take for My Case to Settle?
When it comes to personal injury claims, settlement usually occurs within ONE year from the date that the claim is filed. If case involves serious injuries or an unsettled case that goes to trial, it can take from 2-5 years to received compensation. Ultimately it will depend on the severity of the injuries and the […]
A Basic Guide to Finance Options for Lawyers and Their Clients
Trial lawyers face a Catch-22 when they work to build their litigation business: they always need additional capital to take on potentially lucrative new cases, but accumulating these funds is often infeasible. This is because their recoveries on existing cases are often consumed by the day-to-day costs of running their practice and providing their existing clients with optimal service.
Having a full understanding of all available funding options can help trial lawyers grow their practice and stay on the path to future success without impairing their existing business. For those who feel stuck in the Catch-22 of capital formation, here’s a basic primer to help you understand your choices, so you can determine what makes sense for you.
How Data and AI Can Transform Your Law Practice
Data is powerful – especially when used in tandem with advanced artificial intelligence (AI) technologies that continually gather and evaluate information and provide insightful learning and predictive assessment. Together, data and AI can serve as an invaluable tool for lawyers who are constantly weighing the risks and opportunities of different cases. Instead of relying on anecdotal and remembered information, lawyers can use data and AI to make more refined judgments that benefit both the people they represent and their own business.
Non-Lawyer Ownership Proposal In Florida
If you were disappointed by the Florida Bar Board of Governor’s November 8, 2021 decision to reject the proposals for non-lawyer ownership of law firms, you are not alone. Many small to mid-size law firms were hopeful that infusions of equity by non-lawyer investors would be a solution to uneven cash flows, the need for capital to grow a practice area, and the rising costs of running a law firm business.
Why You Should Avoid the Lure of Low Settlement Offers
Being involved in an accident is traumatic. And for those who are injured, the aftermath can be just as bad. Victims often find themselves juggling the technical aspects of legal claims and police reports while they are attempting to rest and recuperate. During this stressful time, insurance companies frequently make a settlement offer, and exhausted victims can be tempted to accept the sum, just so they can be done with the whole experience. But be forewarned: while an initial settlement offer can be alluring, it rarely amounts to what the victim truly deserves.
Money is Stressful
Managing finances can be challenging — even for lawyers. While popular culture portrays attorneys as big moneymakers, the reality is that many routinely grapple with financial stress. This is especially true for lawyers running their own practice and recent law school grads who are navigating the hefty cost of student loan payments. Lawyers can be highly intelligent experts in the law. But that does not make them masters of finance. In fact, there is mounting evidence that money troubles are taking a toll on the health and careers of lawyers. Here are four things lawyers can do to position themselves for financial success.
To Borrow or Not to Borrow?
When taking on a case, lawyers should carefully analyze expected timeline and the associated costs for reaching a resolution. This can create significant “durational risk” and debilitating financial pitfalls. The challenge is that it can be impossible to determine exactly how much time or money might be spent until the case is settled; forces outside the lawyers’ control can significantly affect how long the case runs. That’s why it’s vital to analyze the risks of an extended duration in the case, and be sure to tap into commercial legal funding services to cover litigation costs and to empower you and you client to go the extra mile if necessary to get the optimal result. The questions below can help guide your approach.
