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  • Hub You - Funding for Attorneys and Law Firms

    Term Life Insurance Has Become Permanent - Almost
    There were two types of life insurance you could consider if you wanted to buy life insurance...term life insurance or permanent. Term life insurance had many variations and so does permanent. Term was considered temporary insurance and still is categorized in
    y its time but the cash invested in hard costs as well. It gets worse, a firm is not allowed to deduct the money they have tied up is case costs. Not only do
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    For a law firm that practices contingent litigation managing cash flow is vitally important. Sadly managing ones cash flow is an afterthought for most trial lawyers. Cash flow is very sporadic as they only get paid when cases are successfully concluded. With many cases taking years to bring to conclusion projecting ones cash flow can be a daunting task.

    Contingent firms typically advance all of the cost of litigation upfront in exchange for a percentage of the recovery. In a contingent case a firm may invest hundreds of attorney hours and tens of thousands of dollars into a case. If a firm loses a case it loses not only its time but the cash invested in hard costs as well. It gets worse, a firm is not allowed to deduct the money they have tied up is case costs. Not only do t

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    awyers. Cash flow is very sporadic as they only get paid when cases are successfully concluded. With many cases taking years to bring to conclusion projecting ones cash flow can be a daunting task.

    Contingent firms typically advance all of the cost of litigation upfront in exchange for a percentage of the recovery. In a contingent case a firm may invest hundreds of attorney hours and tens of thousands of dollars into a case. If a firm loses a case it loses not only its time but the cash invested in hard costs as well. It gets worse, a firm is not allowed to deduct the money they have tied up is case costs. Not only do

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    ones cash flow can be a daunting task.

    Contingent firms typically advance all of the cost of litigation upfront in exchange for a percentage of the recovery. In a contingent case a firm may invest hundreds of attorney hours and tens of thousands of dollars into a case. If a firm loses a case it loses not only its time but the cash invested in hard costs as well. It gets worse, a firm is not allowed to deduct the money they have tied up is case costs. Not only do

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    overy. In a contingent case a firm may invest hundreds of attorney hours and tens of thousands of dollars into a case. If a firm loses a case it loses not only its time but the cash invested in hard costs as well. It gets worse, a firm is not allowed to deduct the money they have tied up is case costs. Not only do
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    y its time but the cash invested in hard costs as well. It gets worse, a firm is not allowed to deduct the money they have tied up is case costs. Not only do they have to fund the money up front but they have to fund it with after tax dollars. Then they repeat the cycle and plow the fees from successful cases into the next group of cases.

    The missing ingredient in improving cash flow for most contingent law firms is something most businesses have been utilizing for decades. Leverage. Most lawyers have funded costs out of pocket since they started, only because that’s how it has always been done.

    A revolving line of credit can be one of the most important tools in a plaintiff lawyers fight for justice. By using borrowed money to fund litigation expenses a firm can elimi

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