Why An Effective Calendaring System is Important

Personal injury/property damage – plaintiff is the area of law with the most frequent legal malpractice lawsuits. Approximately 30% of the cases received in the past decade are personal injury/property damage-plaintiff cases.These cases include but are not limited to, product liability, medical malpractice and accident collisions. The most common types of errors usually result in a missed deadline. These errors include: Failure to know or ascertain deadline correctly, failure to react to calendar, failure to calendar properly and procrastination [...]

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Collection + Bankruptcy Errors: What You Need To Know

As consumer debt increases, so does the demand for collection and bankruptcy legal services. According to the Bureau of Consumer Financial Protection (CFPB) 2020 annual report, “the volume of new debt placed in the litigation channel has increased significantly.” This indicates a growing market for collection and bankruptcy lawyers. It may be tempting for an attorney to increase profitability by handling a large volume of these cases, but this obviously comes with increased risk of a legal malpractice lawsuit [...]

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Common Estate, Trust & Probate Errors + Tips for Managing Your Risk

Estate, trust and probate law is an area of practice concerned with the management and transfer of wealth. This is usually handled by using a variety of legal instruments such as but not limited to wills and trusts. Claims originating from this area have been rising and are expected to continue to rise as baby boomers transfer their wealth. The frequency of claims in this area of law is high; however, 70% of these claims usually close out with [...]

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Real Estate Transaction Errors: What You Need to Know

Even the best attorneys make mistakes, but not all mistakes made by attorneys qualify as legal malpractice. According to the American Bar Association (ABA), 4 out of 5 lawyers will get sued for malpractice in their legal career. The likelihood of being sued is greater for real estate attorneys, as it is one of the high frequency areas of practice. There are many mistakes that can be made during a real estate transaction, such as errors in preparing a deed [...]

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Common Family Law Errors and How to Mitigate Your Risks

Family law is the area of law that deals with matters of the family. This includes, but is not limited to, prenuptial agreements, separation, divorce, child custody, child support, adoption and surrogacy. Family law is one of the areas of law with a relatively high number of legal malpractice suits. However, these lawsuits are typically low severity cases. About 70% of the claims received in this area close out with no loss payment. Emotions run high in these cases and [...]

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Transaction Law: Risky Business for Legal Malpractice Suits

Contrary to popular perception, business transaction and commercial law is a high-risk area of practice for attorneys. It is the ONLY area of practice that is high in both frequency and severity. For attorneys practicing in this area, this should be a concern, as they can be hit by multiple high cost legal malpractice lawsuits. However, these risks can be mitigated be securing lawyers professional liability insurance and integrating risk management techniques. Business transaction and commercial law pertains to the [...]

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8 Ways to Avoid Legal Malpractice Claims

While legal malpractice claims may not be commonplace for lawyers, according to the American Bar Association attorneys in private practice have a 4-17% chance of being sued for malpractice each year. There is no iron-clad solution for preventing malpractice claims; however, there are several steps you can take to help prevent suits which can result in costly and time-consuming legal battles. 1. USE A CALENDAR SYSTEM AND MEET ALL DEADLINES Missing deadlines is the leading source of legal malpractice suits. Failure [...]

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