Reopening Offices and Restoring Profitability

Gardens of Babylon

About 2,500 years ago, Babylon’s King Nebuchadnezzar laid siege to Jerusalem, destroyed its Temple, and exiled its citizens to Babylonia. Around 60 years later, Persia’s King Cyrus conquered Babylon and allowed the expatriates to return to Jerusalem and rebuild their Temple. Restoration of the Temple was a spiritual renewal after a devastating exile. A modern-day renewal of spirits will occur as Covid-19 exiles return to their offices and rebuild their practices. 

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Successfully Working at Home

Over 140 years ago, Louis Pasteur revolutionized the treatment of infectious diseases by developing vaccines for anthrax and rabies.  After his death in 1897, virologists continued using Pasteur's discoveries to create vaccines against chickenpox, measles, mumps, yellow fever, rubella, and tuberculosis.

Modern-day microbiologists are likely to use Pasteur’s principles when they develop a vaccine for the Coronavirus.  Meantime, Coronavirus exiles can read this article for tips and resources to successfully work from home.

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COVID-19 May Shape NY Business Interruption Insurance Law

COVID-19 May Shape NY Business Interruption Insurance Law

On the scale of pandemics, the novel coronavirus, commonly referred to as COVID-19,[1] is unprecedented and ranks among one of the worst in human history, not only in terms of its virulence but in economic destruction as well.

While scientists hastily work toward developing a vaccine and antiviral drugs to combat COVID-19, world leaders in the countries afflicted by the virus have imposed strict governmental lockdowns, barred travel, closed courts,[2] blocked tourism and employed social distancing measures in an effort to stop the rapid spread of the pathogen.

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A Guide to Understanding Your Closing Disclosure

What You’ll Learn
How to understand your Closing Disclosure form
Why your Closing Disclosure may vary from your Loan Estimate
The significance of different dates on your Closing Disclosure

A Closing Disclosure is a five to six-page form that provides final details about the mortgage loan you have selected, including the loan terms, your projected monthly payments, and how much you will pay in fees and other costs to get your mortgage (closing costs).

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Attracting Clients to Your Firm

Attracting Clients to Your Firm

During the 1800’s, it was common for lawyers to attract clients by hanging a shingle and advertising in newspapers.  In the early 1900’s, lawyer advertising was restrained by ABA rules, but the situation changed in 1977 when the Supreme Court extended First Amendment protection to lawyer advertising.  By the late 1900’s, advertising became more common and some firms began using commercials on radio and television. The situation changed in the 2000’s as firms migrated their marketing to websites and social media. 

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Practice Building with Professional Development

Practice Building with Professional Development

About 50 years ago, the Beatles released an innovative album called Sgt. Pepper’s Lonely Hearts Club Band. The album contained a hit song titled Getting Better that told John Lennon’s personal experience with self-improvement. Companies like Nestle, Mayo Clinic, and Toyota have used an improvement strategy known as Kaizen to make better products and increase market share. Focus on improvement can similarly help lawyers build their practice. Read on for professional development tips for lawyers and resources for implementing them at your firm.

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Why Do I Need an LLC or Corporate Kit?

Corporate Kits - LLC Kits
Blumberg Offers an extensive selection of corporate and LLC kits.

When you go to the trouble and expense of creating an LLC or Corporation — instead of operating as a sole proprietorship or partnership—you are doing so in order to avoid being personally responsible for the debts of the business and claims of third parties or employees against the business. An LLC or Corporate Kit is a highly efficient, time-honored way to way to help ensure that this crucial goal is indeed carried out. 

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Sweeping Reforms to Rent Overcharge Under New Rent Laws

New York Rent Laws
A note about the article below from the author: The radical rent overcharge overhauls are a game-changer. Now, for any interested buyer seeking to purchase a rent-regulated building, a herculean level of due diligence is mandated. 

First, the entire rental history for each rent-regulated unit within the building must be obtained from DHCR, which records date back to 1984. Once these records are procured, each legal annually registered rent for all regulated units must be scrutinized for increases. If there are any increases, they must be explained. This is particularly vexing for those increases related to Major Capital Improvements (MCI), which allowed landlords to hike the rent by 6% in NYC and 15% outside of NYC under the prior laws after improvements were made benefiting the tenants. For all increases, all of the backup (invoices from contractors, canceled checks for payments, etc.), must be furnished. If the supporting documentation cannot be produced, or, alternatively, if the documents are inadequate, the rent may be deemed “unreliable,” rendering the asset toxic. The level of toxicity of the asset is largely dependent upon the amount of the overcharge and the time during which the rent was overcharged. Therefore, it is highly advisable for landlords to forego the purchase of any such toxic asset, especially in buildings where there are many potential overcharge claims where the owner does not possess backup. 

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Increasing Revenues by Improving Fees and Services

Increasing Revenues by Improving Fees and Services

The ABA recently simplified its dues structure and added new membership benefits. The ABA expects these improvements to increase revenues and add 83,000 members over the next 4 years.  Lawyers can similarly raise revenues by offering alternative fees and providing exceptional services. Read on for tips to strengthen client relations and create opportunities for revenue growth. 

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