Issue link: https://epubs.iltanet.org/i/50188
MARC GELINAS MARGILL Don't Lose Interest in Interest: Tools To Help You Calculate I 50 'm a lawyer, not an accountant! Lawyers, paralegals and legal assistants have struggled with interest calculations for decades. In fields such as banking and real estate, interest is very straightforward since situations are usually noncontentious and many tools exist for these needs. But when things get dirty, lawyers step in. They deal with the law, and when money is involved, so is interest. Lawyers will often conclude that the time it Tech Potpourri ILTA White Paper takes to calculate interest is simply too costly and will ignore it, but it's really too costly to ignore. THE COMPLICATIONS OF INTEREST If lawyers skip the pain of calculating interest, the client is more than happy just to get the principal. Some lawyers will pass the interest calculation on to their assistants or paralegals, who shed a tear at the thought. Or the firm's accountant could work hours to