Technology is a blessing and a curse for family law professionals. On one hand, more information is available and easier to access than ever before. The move towards paperless offices, cloud storage, digital workflow, and the predominance of email as a communication tool means that you can send or receive case information at the touch of a button. By the year 2025, analysts from International Data Corporation predict that we will be awash in a sea of data, creating 163 zettabytes of data per year – a ten-fold increase over what was created in 2016.
On the other hand, this accessibility made data protection and timely data analysis an even more crucial part of your business.
This issue of Family Lawyer Magazine has a dual focus – technology and finance – highlighting the challenges and opportunities both new tech and the new “Tax Cuts and Jobs Act” offer to family law professionals.
Artificial Intelligence (AI) has the potential to save time and money for law firms big and small by automating aspects of a firm’s day-to-day practice. “Can Artificial Intelligence Benefit Your Law Practice?” (page 10) discusses reliable technology to help you streamline your law firm’s processes, and the impact of AI software on data analytics, legal research, and contract review.
Since they are often traded pseudonymously, cryptocurrencies can be difficult assets to locate – and potentially a good place to hide assets during divorce. “Divorce in the Age of Bitcoin” (page 6) is what family lawyers must know about cryptocurrency.
Other must-read articles include:
The Spy in Your Client’s Pocket (p. 16)
How to Avoid Security Breaches (p. 38)
Forensics Technology and Family Law (p. 28)
How the Tax Cuts and Jobs Act Impacts Corporate Taxes (p.12)
New Tax Law Helps & Hurts High-Net-Worth Divorce Cases (p. 20)
Reversing the Tax Burden of Alimony (p. 24).
I hope this issue of our magazine helps you to keep up with the constant changes your business is faced with.