FAQ

Lexis Legal Advantage FAQ

paulsakalas — Wed, 15 Jan 2020 02:40:41 GMT

Current Revision posted to FAQ by paulsakalas on 1/14/2020 9:40:41 PM

Got a question on a legal topic? We’ve got some answers—start exploring this handy FAQ to find them. Responses are sorted into categories and many contain links to other helpful articles and websites.

Since we’re always adding new stuff, you may want to bookmark this site and check back often to see what’s new.

Tags: FAQ

What is the Capital Gains Rate for Cryptocurrency?

paulsakalas — Tue, 07 Jan 2020 00:47:11 GMT

Current Revision posted to FAQ by paulsakalas on 1/6/2020 7:47:11 PM

For starters, if you didn’t know cryptocurrency is taxable, please read this.

Since it’s not officially issued by any country, the IRS doesn’t view cryptocurrencies (Bitcoin, Litecoin, etc.) as a currency. Instead, it’s seen as an asset, making the sale and exchange of cryptocurrency a taxable event.

That also means cryptocurrency can be subject to capital gains tax when used to make a purchase. The capital gains tax varies from zero percent to over 25 percent, based on a few variables like your taxable income and the types of items being bought/sold. If you want to see a more complete breakdown, this page on the IRS website talks about capital gains and losses.

Tags: Cryptocurrency, Tax Law, Tax, Taxation

What is the Capital Gains Rate for Cryptocurrency?

paulsakalas — Tue, 07 Jan 2020 00:46:42 GMT

Revision 1 posted to FAQ by paulsakalas on 1/6/2020 7:46:42 PM

For starters, if you didn’t know cryptocurrency is taxable, please read this.

Tags: Cryptocurrency, Tax Law, Tax, Taxation

What Technology is Most Important to Lawyers?

paulsakalas — Tue, 07 Jan 2020 00:32:45 GMT

Current Revision posted to FAQ by paulsakalas on 1/6/2020 7:32:45 PM

That question is pretty wide open, but scroll through some of the Attorney Spotlight features on this site and you’ll see that several lawyers point to two key areas in which technology is vitally important: research and communications.

For starters, legal research has come a long way in recent decades. It moved online in the 1970s and gradually migrated from dedicated terminals in a few exclusive firms to near ubiquity in most law offices today. Gone are the days spent poring through books in a law library. Thanks to the digital age, lawyers are able to quickly search for and retrieve legal documents, check citations, research judges and even harness artificial intelligence to uncover hidden insight. Ergo, it’s fair to say that online legal research technology is important to lawyers.

In terms of communication technology, attorneys often reference mobile phones (specifically their ability to text and email) as a relatively new, yet essential part of their workflow. With these evolving communication capabilities comes the ability to transport files, review/sign documents and much more. Communications technologies are also enabling lawyers to work from anywhere, link multiple offices within a single firm and collaborate with remote teams.

Tags: Attorney Spotlight, Legal Tech, FAQ, Technology, Online Legal Research

What Technology is Most Important to Lawyers?

paulsakalas — Tue, 07 Jan 2020 00:31:56 GMT

Revision 1 posted to FAQ by paulsakalas on 1/6/2020 7:31:56 PM

That question is pretty wide open, but scroll through some of the Attorney Spotlight features on this site and you’ll see that several lawyers point to two things that technology has really enhanced: research and communications.

Tags: attorney spotlight, Legal Tech, FAQ, Technology, Online Legal Research

What Tools do Lawyers Use for Discovery?

paulsakalas — Mon, 06 Jan 2020 23:58:10 GMT

Current Revision posted to FAQ by paulsakalas on 1/6/2020 6:58:10 PM

Discovery is perhaps one of the most critical steps in bringing a legal case—you can read more about it here. And while different lawyers often prefer different workflows, there are a few things to consider that may help you along in the process, with specific regard to Electronic Discovery (eDiscovery).

Lawyers can rely on dedicated eDiscovery software from a third-party vendor. These software packages often incorporate a way to organize and store a myriad of different file types, from simple PDFs and Docs to more complex multimedia files like mp3s and jpgs.

Speaking of files, a lot of these companies use cloud storage as an effective means to back up the files you’re collecting. It’s important to realize that those video files of depositions and hours of testimony add up and can overwhelm an already-taxed hard drive—having a dedicated storage medium with a redundant backup is a must.

Since you’re probably going to be dealing with multiple sources, expect to see a range of different file types too. It may be handy to have a file converter to ensure that your files are stored in a more uniform manner. That can make it easier to recall relevant files more quickly when the time arises.

Tags: Litigation, Legal Software, FAQ, Discovery

Can Evidence be Submitted After Discovery?

paulsakalas — Mon, 06 Jan 2020 23:52:30 GMT

Current Revision posted to FAQ by paulsakalas on 1/6/2020 6:52:30 PM

Yes, evidence can be submitted after discovery. That’s to allow for evidence that would have been impossible to reveal (with reasonable diligence) during the original discovery period. Evidence can be submitted with or without approval from the opposing party, but it is possible that the opposing party may argue that any submission of additional evidence may be cause for a new trial.

But “yes” is the short answer. The long answer is a far more nuanced “maybe” and is largely dependent on the particulars of each case. Remember that there are stringent guidelines for permissible evidence and factors like your judge, opposing party and jurisdiction may play a role in determining if your evidence is admitted after the discovery period.

Tags: Litigation, FAQ, Discovery

What are the Chances of Winning a Personal Injury Lawsuit?

paulsakalas — Mon, 06 Jan 2020 23:40:17 GMT

Current Revision posted to FAQ by paulsakalas on 1/6/2020 6:40:17 PM

There is no one-size-fits-all answer here, as each case is often decided based upon a myriad of factors. Yet, there are a few facets to consider when questioning the probability of a specific personal injury lawsuit outcome.

The most critical element of any successful personal injury lawsuit is the proper assignment of liability. In other words, did the defendant cause the injury? If there isn’t a clear answer to that question, then the chances of a successful suit can dim considerably.

An attorney must also be ready to assess any updates in state and federal laws. Even a seemingly innocuous change can have a significant impact on the probability of a successful suit—hence, staying abreast of recent legislation is critical.

Want to read about some of the other factors you should weigh before considering bringing a personal injury case? Read this: Five Things Every Personal Injury Attorney Should Know

Tags: Litigation, Lawsuit, FAQ, personal injury

What is Discovery in Law?

paulsakalas — Mon, 06 Jan 2020 23:26:58 GMT

Current Revision posted to FAQ by paulsakalas on 1/6/2020 6:26:58 PM

In a legal context, “Discovery” is when all the parties involved in a legal dispute are required to share and exchange relevant legal information and accepted facts of a case. This is also the time in which each party typically obtains and reveals all of the evidence they plan to use in court to bolster their legal arguments.

Either party can request documents and gather additional information. It is even possible for a party to request admission of some (or all) culpability for a particular aspect of a case.

Discovery is an important and mandatory process, and it’s commonly used to help legal professionals determine their next steps. That’s because, after discovery, the parties are better able to assess the probability of their success. It also means that many cases are often settled after discovery via the Summary Judgement process—skipping a potentially lengthy (and costly) court battle.

Tags: Litigation, Summary Judgement, FAQ, Discovery

How Do I Calculate a Fringe Benefit Rate?

paulsakalas — Mon, 06 Jan 2020 23:18:10 GMT

Current Revision posted to FAQ by paulsakalas on 1/6/2020 6:18:10 PM

Employers will calculate a fringe benefit rate to determine the percentage of an employee’s hourly wage relative to the fringe benefits they receive. That, in turn, allows an employer to see the actual cost of that employee to the company, beyond their base salary/wages. (If you’re not sure what a fringe benefit is, click here.)

The calculation is a simple one: just add up the cost of the fringe benefits for the year and divide it by the employee’s annual salary. Then, multiply by 100 to get the percentage.

Here’s the equation:

(Sum of All Fringe Benefits / Annual Salary) x 100 = Fringe Benefit Rate (%)

So, if we determined that an employee’s fringe benefits add up to $10,000, and their base wages are $50,000 year, then the fringe benefit rate would be 20 percent.

(10,000 / 50,000) x 100 = 20

Let’s break that down into hourly rate. Assuming a 40-hour work week, at $50,000 a year, that employee is paid around $24.04 an hour. With a fringe benefit rate of 20 percent, it means the employer actually pays an additional $4.81 on top of that base salary (20 percent of 24.04 is about 4.81), which results in a $28.85 hourly rate.

Understanding the fringe benefit rate gives the employer a better picture of the actual cost of the employee.

How Do I Calculate a Fringe Benefit Rate?

paulsakalas — Mon, 06 Jan 2020 23:17:40 GMT

Revision 1 posted to FAQ by paulsakalas on 1/6/2020 6:17:40 PM

The calculation is a simple one: just add up the cost of the fringe benefits for the year and divide it by the employee’s annual salary. Then, multiply by 100 to get the percentage.

Here’s the equation:

(Sum of All Fringe Benefits / Annual Salary) x 100 = Fringe Benefit Rate (%)

So, if we determined that an employee’s fringe benefits add up to $10,000, and their base wages are $50,000 year, then the fringe benefit rate would be 20 percent.

(10,000 / 50,000) x 100 = 20

Understanding the fringe benefit rate gives the employer a better picture of the actual cost of the employee.

What Does an Employee Benefits Lawyer Do?

paulsakalas — Mon, 06 Jan 2020 23:05:32 GMT

Current Revision posted to FAQ by paulsakalas on 1/6/2020 6:05:32 PM

Employee benefits lawyers are legal professionals who specialize in employer-backed benefits that include, but aren’t limited to, retirement savings accounts, compensation plans, profit sharing, life insurance, health insurance and employee severance.

An employee benefits lawyer may spend time drafting documents in regard to those employer-backed benefits. These attorneys often work closely with human resource departments, educating the staff on the legal responsibilities and the proper administration of the employer-supported benefits packages. It’s also common to see employee benefits lawyers coordinating with accounting departments to ensure benefits compliance with various state and federal tax codes.

Employee benefits lawyers are typically particularly competent in the laws that are linked to employee benefits, specifically the Affordable Care Act (ACA), the Health Insurance Portability and Accountability Act (HIPAA) and the Employee Retirement Income Security Act of 1974 (ERISA).

Tags: Benefits, FAQ, Labor & Employment

What is an Appellate Practice?

paulsakalas — Fri, 20 Dec 2019 01:20:55 GMT

Current Revision posted to FAQ by paulsakalas on 12/19/2019 8:20:55 PM

After a court ruling, one or both parties may be unhappy with the decision and choose to move forward with an appeal. In that scenario, they’ll look to lawyers within an appellate practice.

That’s because bringing a case to an appellate court (AKA an appeals court) requires a different legal approach than the initial court case did. For instance, during an appellate trial, there is likely to be more focus on the legal issues at play and less focus on the details of the individual case.

As such, an appellate attorney needs to have a different skillset than a traditional trial lawyer. Specifically, a lawyer within an appellate practice will have finely-honed research and drafting skills, along with a keen ability to present and persuade.

Tags: Litigation, FAQ, Appellate Law, Appeals

What is an Appellate Litigator?

paulsakalas — Fri, 20 Dec 2019 01:15:36 GMT

Current Revision posted to FAQ by paulsakalas on 12/19/2019 8:15:36 PM

An appellate litigator is an attorney who focuses on the appeals process. Appeals courts exist because, after a court decision, the ruling can be appealed if one or both of the parties disagree with the verdict.

That’s where an appellate litigator comes in. This litigator is a specialized lawyer who (often exclusively) handles appeals cases. The role of an appellate attorney can be different than a traditional litigation lawyer in that they’re bringing a case that has already been decided.

That means they’re approaching their case strategy in a different way, typically searching for errors or abnormalities in the case and raising questions about the legal decisions made by the ruling party.

Tags: Litigation, FAQ, Appellate Law, Appeals

What Does an Appellate Lawyer Do?

paulsakalas — Fri, 20 Dec 2019 01:09:50 GMT

Current Revision posted to FAQ by paulsakalas on 12/19/2019 8:09:50 PM

Attorneys that specialize in appellate law are focused on bringing appeals cases to federal and state appellate courts. The goal of an appellate court and an appellate lawyer is to examine and correct errors or abnormalities that may have led to the (perceived) wrong decision.

That means an appellate lawyer will spend a lot of time in legal research, reviewing and analyzing the legal questions raised by the case. An appeals lawyer is often less focused on the facts and specific details of the case in question, but rather the proper application of the laws at play within it.

In addition to litigation experience, and appellate lawyer may have expertise in a specific area like criminal law, family law, etc.

Tags: Litigation, FAQ, Appellate Law

What Technology do Lawyers Use?

paulsakalas — Fri, 20 Dec 2019 00:56:07 GMT

Current Revision posted to FAQ by paulsakalas on 12/19/2019 7:56:07 PM

That’s a pretty broad question. In fact, it’s probably better to pluralize and ask what technologies lawyers use. While it’s clear the digital age has transformed how a lawyer works, it’s difficult to elaborate on all the different technologies and their contributions—but we’ll try.

First off, while online legal research has been around for decades, it seems that its growth has accelerated in the 21^st century. Now, artificial intelligence is unlocking capabilities that help a lawyer dig deeper and research faster.

Speaking of AI, data analytics forms the bedrock of many of these new technologies, including machine learning and cognitive computing. Savvy lawyers are harnessing the power of legal analytics to predict the future and build stronger case strategies.

And that’s just the beginning. Attorneys can rely on legal software to organize their cases, build courtroom presentations, manage the businesses side of the practice and much more.

Tags: Legal Tech, Artificial Intelligence, AI, FAQ, Legal Analytics

How Does a Subscription-Based Law Firm Work?

paulsakalas — Thu, 19 Dec 2019 23:54:05 GMT

Current Revision posted to FAQ by paulsakalas on 12/19/2019 6:54:05 PM

While individual firms may have different business models, most firms with subscription-based pricing options operate in the same basic way: clients pay a monthly fee for a fixed number of projects, hours or legal tasks.

These subscription models offer a fiscally prudent solution for clients who require regular legal services but can’t afford potentially large bills for every project. Small businesses in particular seem to be particularly fond of these subscription arrangements. That’s because, in addition to the peace of mind that a predictable bill brings, monthly billing often offers a reduced rate for the services rendered.

You can read a more in-depth analysis on the topic here: Law Firm Subscription Models: A Potential Solution to an Age-Old Problem

Tags: Legal Tech, subscription

What is the Average Settlement for a Personal Injury?

paulsakalas — Thu, 19 Dec 2019 23:46:39 GMT

Current Revision posted to FAQ by paulsakalas on 12/19/2019 6:46:39 PM

Given the disparity between injuries, victims, defendants and unique circumstances of each case, this question can be difficult to answer. There is no golden number that is applicable to every personal injury case.

That said, with a specific case in mind, there are tools that can analyze previous verdicts and settlements for similar cases, which then allows a legal professional to make an educated prediction on what dollar amount their specific case may garner.

While pinpointing an average dollar amount across the breadth of personal injury cases is a challenge, there are some basic factors that have historically influenced the award amounts. Read this article to learn what those factors are: Eight Factors That Affect Personal Injury Settlements

Tags: Litigation, personal injury, Settlements

What Does it Mean When A Summary Judgement is Granted?

paulsakalas — Thu, 19 Dec 2019 23:36:08 GMT

Current Revision posted to FAQ by paulsakalas on 12/19/2019 6:36:08 PM

A summary judgement occurs when, in a civil case, one party wants to move to a court decision without a trial. That only happens however, when the two parties agree to the critical facts of the issue, and the law allows summary judgement based on the undisputed facts at hand.

When a motion for summary judgement is granted, it indicates there is sufficient evidence to declare one party the clear winner. In other words, the judge has reviewed the undisputed facts of the case, along with any acceptable evidence provided by each party to support their argument and sees no point in having a trial.

The judge will then rule on the case based on the facts and evidence. A summary judgement can often be beneficial as it potentially skips a lengthy (and costly) court trial.

Tags: Litigation, Summary Judgement, FAQ

How is Cryptocurrency Taxed?

paulsakalas — Thu, 19 Dec 2019 23:32:43 GMT

Current Revision posted to FAQ by paulsakalas on 12/19/2019 6:32:43 PM

First off, it’s important to stress that yes, cryptocurrency exchanges are taxable. In fact, the IRS is pretty clear about the topic, and has released several notifications on the taxation of virtual currencies.

In short, the federal government views Bitcoin and related digital-only currency as taxable property under U.S. tax law. As such, whenever someone sells or exchanges the currencies, it’s technically a taxable event. The same holds true for any capital gains made though trading in cryptocurrencies.

Here's an in-depth cryptocurrency tax article with some helpful links that goes in further detail on the subject.

Thinking of accepting cryptocurrency as payment for goods or services? You’ll want to read this cryptocurrency story too.

Tags: Cryptocurrency, FAQ, Tax Law, Taxation