Checklist for Starting a Law Practice

  • Print Page
Sub Navigation

Click here for a downloadable PDF version of this Checklist.

* Effective August 1, 2010, D.C. Rule of Professional Conduct 1.15 was amended to make participation in the D.C. IOLTA program mandatory for D.C. lawyers who receive IOLTA–eligible funds, subject to certain limited exceptions. Rule 1.19 and Appendix B to the D.C. Court of Appeals Rules Governing the Bar were also deleted. Provisions from former Rule 1.19 and Appendix B are now located in new §20 of D.C. Court of Appeals Rule XI. For more information about IOLTA in the District of Columbia, click here.

Prepare a Business Plan

1. Executive Summary

  • Mission Statement
  • Description of Law Firm
  • Firm Goals and Strategy
  • Practice Areas
  • Pro Bono Activity
  • Financing Requirements

2. Firm’s Description

  • Name & Ownership
  • Decision Making and Operation

3. Marketing Strategy

  • Target Market
  • Budget
  • Local Economy
  • Marketing Plan
  • Current and Potential Clients
  • Competition

4. Firm Economics

  • Start–up Costs
  • Billing Projections
  • Expenses
  • Overhead Review

5. Financial Plan

  • Budget
  • Financing Sources
  • Break–even Analysis
  • Financial Projections

Choose the Entity Type and Know Why

1. Sole Proprietorship
2. General Partnership
3. Limited Liability Partnership
4. Professional Service Corporation/Professional Association
5. Professional Limited Liability Company

Office Space Considerations

  • Geographic Location
  • Competition/Cooperation
  • Size
  • Home Office
  • Office Services Suite
  • Space Sharing
  • Lease/Ownership

Accounting

1. Meet with CPA or bookkeeper

  • Set up Chart of Accounts
  • Establish Accounting Procedures

2. Internal/External Dynamic
3. Purchase Software
4. Payroll Services

Open Bank and Trust Accounts

1. Operating Account
2. IOLTA (DC Mandatory)
3. Non-IOLTA Trust Account

Secure Technology

1. Secure Software

  • Word Processing
  • Time and Billing
  • Conflicts Checking
  • Case Management
  • Accounting System

2. Secure Hardware

  • Telephone
  • Computer
  • Printer
  • Scanner
  • Copier
  • Fax Machine/eFax

3. Secure Internet

  • Internet Service Provider
  • High Speed Internet, Cable vs. DSL

4. Legal Research

  • Fastcase, Westlaw, Lexis-Nexis, Casemaker
  • Free/low-cost services

Office Equipment, Services and Supplies

1. Postage Provider and Meter
2. Furniture
3. Telephone System
4. Business Cards & Announcements
5. Office Supplies
6. D.C. Bar Member Benefits for the small firm

Insurance

1. Professional Liability
2. Workers’ Compensation
3. Health Insurance
4. Property, Casualty & Cyber Insurance

Sub Navigation

This site uses cookies and other tracking technologies to assist with navigation and your ability to provide feedback, analyze your use of our products and services, assist with our promotional and marketing efforts, and provide content from third parties. View Privacy Policy 

Accept
Skyline