Financially Legal

Three Things I Learned from the HTM Coronavirus Growth Symposium and Why You Should Attend

Posted by Dan Lear on April 6, 2020

Starting back on March 23, RJon Robins of How To Manage a Small Law Firm held a series of free daily phone conversations with lawyers  in response to the coronavirus/COVID-19 pandemic. RJon was his typically direct but his message was hopeful: there is opportunity out there for lawyers and law firms .

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Topics: Firm Financials

Gravity Legal's Dan Lear Featured on the Clio Daily Matters Podcast

Posted by Emery Wager on April 1, 2020

In this episode of Clio Matters, Dan discusses different ways firms are navigating the new remote work environment. He lists helpful technology resources and tells us whose ideas he's leaning on amidst the chaos (Nate Silver and RJon Robins of How to Manage a Small Law Firm to name a few).  

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Topics: Firm Financials, Credit Card Fees, Key Performance Metrics, IOLTA

Episode 3: Why do trust accounts even exist? And why should we care?

Posted by Dan Lear on March 25, 2020

We get nerdy this episode talking accounting, trust accounting, and regulatory jazz with Lainie Hammond.  Lainie runs a law firm in Washington State helping lawyers with issues related to IOLTA trust account compliance.

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Topics: Firm Financials, Financially Legal Episodes, IOLTA

Five Ways to Shore Up Your Law Firm's Finances Now

Posted by Dan Lear on March 23, 2020

Our lives and livelihoods have changed dramatically over the last two weeks. We’re all hopeful for a swift and significant rebound, but proactive measures will carry the day. Action in crisis can provide a feeling of purpose and normalcy amidst the potentially overwhelming uncertainty. It can also be the difference between going under and thriving.    

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Topics: Firm Financials, Credit Card Fees

State Rules on Charging Clients a Fee for Paying With Credit Cards

Posted by Emery Wager on March 19, 2020

There are three sets of rules lawyers need to navigate  when deciding whether to charge clients a fee for paying with a credit card:

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Topics: Firm Financials, Credit Card Fees

Covid 19 Financial Resources for Firms and Their Clients

Posted by Emery Wager on March 19, 2020

Whether your firm is in need of financial assistance or you are working to advise clients through these difficult times, we've compiled a list of local, state and national Covid 19 financial relief programs. 

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Topics: Firm Financials

Episode 2: The Agile Attorney

Posted by Dan Lear on February 29, 2020

Today, we're excited to have a conversation with John E. Grant, the Agile Attorney. John is a compelling thinker when it comes to law firm economics, law firm efficiency, and law firm productivity. 

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Topics: Firm Financials, Financially Legal Episodes, Key Performance Metrics

Episode 1: Intro to Financially Legal

Posted by Dan Lear on February 29, 2020

Welcome to the very first episode of Financially Legal, with your host, Dan Lear, head of partnerships and marketing at Gravity Legal. 

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Topics: Firm Financials, Financially Legal Episodes

Oklahoma is Latest State Looking to Allow Credit Card Surcharges

Posted by Emery Wager on February 13, 2020

Oklahoma Attorney General, Mike Hunter, in a recent opinion said a state ban on surcharging is most-likely unconstitutional. Surcharging is the practice of charging an additional fee when clients pay by credit card.

Clients should know what it costs law firms to accept credit cards, and those clients should have the option to save money by paying with less expensive methods. Since card brand surcharging rules prevent firms from charging more for the surcharge than the amount of the transaction, it ends up not being a money-making scheme but a clear way to communicate how much those airline miles really cost.

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Topics: Firm Financials, Credit Card Fees

The Real Cost of Accounts Receivable

Posted by Emery Wager on February 3, 2020

Getting clients to pay isn’t easy. As more invoices remain outstanding, accounts receivable creeps upward. As an attorney responsible for the firm's financial success, it's important to understand the real cost of accounts receivable. Here's a simple way to estimate those costs.

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Topics: Firm Financials

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Decoding the Finance of Law

Financially Legal is a twice-monthly podcast on the finance and economics of entrepreneurial law firms and lawyering. Host, Dan Lear, talks with law firm leaders, academics, business professionals (both in and outside of law) and thought leaders to provide compelling and provocative content at the intersection of finance, economics, and law. 

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