risk-management.php

Practice Management

LPLC sees that better practice management lessens the risk of claims.  Each person in every function of a legal practice has a role to play in managing risk.  Effective practice management means optimising strategies, policies and systems, with individuals having the right skills and behaviours, to ensure that legal services are delivered consistently to a high quality and to the satisfaction of clients.  If a practice is well managed, the likelihood of mistakes occurring will be reduced.

LPLC have many resources to assist practitioners with practice management, how they relate to the claims we see and what firms can do to manage their practices better. Please choose a resource from the menu.


 

1 July 2018

When parents lend to children

Be alert to the risks when advising on parent loans to home buyers. Last year, financial services comparison site Mozo reported that young home buyers in Australia have borrowed $65.3 billion from their families, making the bank of Mum and Dad the country’s fifth biggest lender. The June 2018 LPLC column “Take a step back” […]

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28 June 2018

In Check Issue 79 | June 2018

Download PDF New requirements for some purchasers to withhold GST – 1 July 2018 From 1 July 2018 purchasers of certain new residential premises and potential residential land will be required to withhold the goods and services tax (GST) and pay it to the Australian Tax Office (ATO). Vendors of residential premises or potential residential […]

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1 June 2018

Take a step back

Seeing the big picture is essential for good matter management. Experienced busy practitioners practising in their area of expertise are still at risk of claims. Unless you take time to stop and think about each matter it is easy to assume it is just like the last one you worked on. Don’t get so caught […]

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1 May 2018

Post mortem risk management

Good risk management includes analysing mistakes and learning from them. IWhat has a post mortem examination to do with risk management? A doctor conducting a post mortem thoroughly examines the deceased to try to determine the cause and manner of death. The results are also useful for research and educational purposes. Consider doing a post […]

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6 February 2018

Deputy takes the helm

The Legal Practitioners’ Liability Committee welcomes its new CEO. Justin Toohey took over as CEO of the LPLC on 1 January following the retirement of Miranda Milne, who had held the role since 1996. Previously deputy CEO and head of claims since 2005, he is committed to strengthening LPLC’s relationships with all its stakeholders. “I […]

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19 October 2016

Cyber security cautionary tale

Table of contentsIntroductionThe realistic emailHijacking his emailLessons Introduction Cyber security needs to be at the forefront of everyone’s mind, whether you are in a small firm or a large firm. The recent experience of a Victorian law firm is a good example of how easy it is to be caught out. The realistic email A […]

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23 May 2007

E-mail guidelines

Table of contentsSending e-mailReceiving e-mail Sending e-mail 1. Discuss with your clients at the outset what categories of communication they do or do not want via e-mail. 2. Consider if e-mail is the right medium for each communication. Would a posted letter, a face-to-face meeting or a telephone call be more appropriate? 3. Only put in an […]

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15 June 2018

Attention to all the details

Attention to all the details in preparing a contract is crucial to ensure correct and intended execution of the contract as well as good risk management. Care must be taken when using standard form contracts and completing the variables. Near enough is not good enough! In one claim, the practitioner acted for the vendor of […]

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11 May 2018

Risks for the bank of mum and dad

Practitioners asked to act in transactions where parents lend money to their children to help them buy a house should stop and think about the transaction. Who are they acting for? Who else could think the practitioner is looking after their interests? If you are acting for the child in the purchase of the property […]

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27 April 2018

It’s not routine for the client

Advice on a ‘cross roads’ decision for the client, such as whether to proceed with a contract of sale or bring it to an end, should always be recorded in sufficient detail in a file note and confirmed in writing to the client. It is important not to cut corners, even when the advice seems […]

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20 April 2018

Communicate better with colleagues to close the cracks

Tasks fall between the cracks when practitioners fail to communicate proactively and effectively with colleagues. In one claim, the firm was retained by a lender to prepare a loan agreement and lodge caveats over several properties owned by the borrower. The following year, the borrower asked a consultant at the firm to arrange for the […]

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23 March 2018

Confirm currency of money sent overseas

Sending money overseas is a common action for law practices today and we receive claims when the money is sent in the wrong currency. In our experience, the banks routinely convert the funds into the receiving country’s currency before sending it unless clearly instructed otherwise. In one claim the practitioner had given oral instructions to […]

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27 January 2018

Risk management audit checklist

Don’t wait for the worst to happen – use this audit checklist to determine and monitor whether your practice is at risk of a negligence claim. Introduction This audit checklist is a risk management tool for legal practitioners to determine and monitor whether their practice is at risk of a negligence claim arising from poor […]

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18 December 2017

Key Risk Checklist: Electronic property transactions – office management

Electronic property transactions – office management checklist Office policy content Below is a list of issues to consider when writing your office policy and recommended responses. ☐  Who will hold a digital signature? The digital signature is embedded in a USB. Preferably only partners have digital signatures. ☐  How a digital signature’s USB and pin […]

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20 November 2017

Key Risk Checklist: File transfer from another firm

  Client intake Comment or detail Complete the client intake checklist to establish if you should act for this client in this matter at this time (click here). Immediate file review  Comment or detail Conduct an immediate file review to determine: critical dates and relevant time limits outstanding issues next steps. Internal procedure  Comment or […]

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15 June 2017

Key Risk Checklist: File transfer to another practitioner within the firm

    File transferred to another practitioner within the firm Yes No Comment or detail Has the client requested the change of practitioner? □ □ Has the practitioner receiving the file confirmed they have the knowledge and capacity to do the work? □ □ Has the transferring practitioner completed a detailed memorandum that: details the […]

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15 June 2017

Key Risk Checklist: File closing

  Work completed Yes No Comment or detail Have we written to the client confirming: all required work has been completed? □ □ any outstanding issues that are the client’s responsibility? □ □ any critical dates and consequences? □ □ future actions (such as exercise of an option) that is the client’s responsibility? □ □ […]

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11 May 2017

Know your limits

Table of contentsIntroductionLessons from the claimsTime limits most commonly missedClaims examples Introduction With the proliferation of time limits in legislation today missing limitation dates is a mistake that occurs in many areas of the law. The reasons for missing time limits are varied as are the potential repercussions. Sometimes it is a lack of knowledge […]

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6 July 2018

Risk video bite – Conflicts

Presenter: Matthew Rose, Risk Manager, LPLC

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1 June 2018

Risk video bite – Personal cost orders

Presenter: Matthew Rose, Risk Manager, LPLC

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4 May 2018

Risk video bite – Family law financial agreements

Presenter: Alex Macmillan, Claims Manager, LPLC

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6 April 2018

Risk video bite – Drafting

Presenter: Matthew Rose, Risk Manager, LPLC

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2 March 2018

Risk video bite – Conveyancing

Presenter: Phillip Nolan, Risk Manager, LPLC

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21 December 2017

File note – meeting to advise about a guarantee

This file note is designed to be used by practitioners when they are advising third party guarantors and providing a solicitor’s certificate of their advice. Practitioners should review the file note template with the guarantee and/or mortgage documents before meeting with the client and make any necessary additions or changes to the typed file note […]

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20 July 2017

Working together – roles and obligations

What we will do when we act for you Be courteous and polite at all times. Act in your best interests only. Keep your information confidential unless you give us permission to disclose it or we are required by law to disclose it. To enables us to handle your matter as quickly and economically as […]

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