September means football is back – and Q4 is lining up right behind it. While you might be looking forward to Sunday night fourth quarter finishes, Q4 on the business side of law practice can bring its own high-stakes finish. Unfortunately, this version swaps touchdowns for time consuming year-end management tasks that can run long, go into overtime, and even creep into your prime football-watching hours.

By reviewing your year-end strategy now, you can get a head start on a successful Q4. So, huddle up for some Xs and Os as we review what should be on your final quarter to-do list and how you might avoid a legal malpractice claim: 

Collecting outstanding receivables – There may be plenty of legal work left to run between October and December, but now is the time to check the scoreboard on unpaid bills. Review any invoices still sitting on the sidelines, especially accounts more than 60 days past due. Consider adding a friendly reminder to your November bills that clients should be current by year-end, so your invoice is top of mind when they are wrapping up their own year-end financials. Staying on top of receivables is a smart risk management play to avoid fee disputes. Detailed monthly statements make it less likely that clients will dispute individual changes or refuse to pay altogether. And if your aging report shows a client falling behind, do not wait until it becomes a fourth-and-long collection problem. Pick up the phone now, talk through a payment plan, and help move the account current so the representation can continue in the new year.

Reviewing your policies and procedures – Take a look back at the season so far. What office procedures have you had to enforce? Which issues made you wish you had a stronger policy in place before the flag was thrown? Year-end is a good time to update your firm handbook and, at a minimum, revisit your AI policy as the law and technology in this area continue to evolve. You may also want to tailor AttPro’s form fee agreements and engagement letter – now including an AI addendum – for your own practice. Your policies and procedures are your firm’s playbook. So, be sure it is up to date before the new year kicks off.

Considering your hiring needs – You may have enjoyed a record year in terms of new business. Or perhaps you see the need to add a new practice area to better serve your client base. This may warrant adding new lawyers to your firm, and many lawyers consider switching firms at the start of a new year. While the prospect of adding new talent to your roster is enticing, avoid a potential malpractice claim by employing best practices when it comes to hiring lateral attorneys. Be sure to fully vet potential new players and perform the necessary conflict checks to avoid being whistled for an ethics violation.    

Planning for the future – As you evaluate your hiring needs, you might also consider establishing or revising your succession plan. The end of the year is a good time to check in with senior attorneys about their retirement plans. Or, if you are a solo practitioner, you may want to identify a surrogate attorney – your back-up quarterback so to speak. Having a plan in place will give you the peace of mind you deserve before tackling the coming year.

Evaluating your malpractice insurance coverage –If your policy renews at the start of the year, do not wait until the clock is winding down to review your coverage. A lot can change over the course of the season. Maybe you added attorneys, took on bigger matters, entered a new practice area, or started handling more complex cases. That kind of growth is worth celebrating – but is may also mean last year’s coverage no longer fits this year’s risk. Talk with your agent now to make sure your limits and coverage are ready for the year ahead. The goal is to avoid finding out, after the whistle blows, that your defense was not strong enough.

While it’s natural to race toward your billable-hour goals or try to settle cases before the clock runs out on the year, do not leave your Q4 management responsibilities sitting on the bench. Fee issues, outdated policies, hiring gaps, succession concerns, and coverage questions all deserve playing time before the end of the year.  Taking care of these fourth quarter tasks now can help you avoid an unforced error that turns into a malpractice claim later.