Real Estate Transaction Errors: What You Need to Know

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...

Common Family Law Errors and How to Mitigate Your Risks

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...

Transaction Law: Risky Business for Legal Malpractice Suits

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...

The 4 Most Common Types of Legal Malpractice Errors

The 4 Most Common Types of Legal Malpractice Errors Lawyers make unintentional errors every day – in hard and easy cases, in trials and transactions, in large and small firms, and across many areas of practice. Deadlines, long hours, demands from clients and more contribute to this, and even the most meticulous lawyer is bound to make a mistake at least once in his or her legal career. These law firm errors are not all equal, and can span across...

6 Areas of Practice with the Most Frequent Malpractice Lawsuits

6 Areas of Practice With the Most Frequent Malpractice Lawsuits Legal malpractice lawsuits can be costly for any law firm, but the potential cost of malpractice claims can vary significantly based upon the areas of law concerned. Some areas have a high frequency of lawsuits filed, while others have more severe costs of defense and settlement. Knowing where your area of practice stands in this regard is important when looking for suitable legal malpractice insurance. Analyzing recent trends in malpractice...

3 Areas of Practice with High-Cost Malpractice Suits

3 Areas of Practice with High-Cost Malpractice Suits Legal malpractice lawsuits are both time consuming and costly for all law firms, but the average costs of malpractice suits can and often do vary based upon the area of law. While some areas of practice experience a high frequency of malpractice lawsuits, others have experienced much higher severity in terms of costs for defense and settlement. The average cost of defense and settlement for a legal malpractice lawsuit in Oklahoma is approximately...