Video: Legal Prep for 2025

Trent Cotney speaks with RC in regards to year-end planning, insurance and storm relief and more.

In this episode of Best of Success, RC Group Publisher Jill Bloom speaks with our Legal Insight columnist Trent Cotney of Adams & Reese. In this year-end conversation, Trent shared valuable legal tips to help businesses close out 2024 effectively and set a strong foundation for 2025. Here’s a recap of the key takeaways:

Roofing Contractor presents The Best of Success Podcast Show

Legal Prep for 2025

Trent Cotney of Adams & Reese shares essential legal tips for businesses to navigate year-end planning, tackle insurance challenges in storm-related work, and prepare for 2025. His insights emphasize strategic financial planning, labor management, and proactive goal-setting to ensure a successful transition into the New Year.

1. Year-End Planning

Cotney highlighted that the holiday season, especially with holidays falling midweek, can slow down business activity. He recommended using this downtime to focus on year-end planning and reflection. Key actions include:

Meeting with your CPA to explore strategies like pre-paying taxes or making strategic purchases that could benefit your business.
Managing receivables: Decide whether to bring them in to show more revenue for 2024 or hold them for 2025, depending on your financial strategy.
Reflecting on the year: Use this time to assess what worked and what didn’t. Review contracts, improve toolbox talks, and identify areas for improvement in your operations.

2. Insurance and Storm Work

Cotney discussed the challenges contractors face in storm-related work, particularly with insurance claims. Recent developments in Iowa have reinforced that contractors cannot act as unlicensed public adjusters or negotiate pricing. He emphasized the importance of clarifying to clients that “there’s no such thing as a free roof,” a principle that applies nationwide. He also outlined common mistakes contractors make when dealing with storm work and insurance claims and how to avoid them.

3. Preparing for 2025

Cotney shared three critical priorities for businesses entering 2025:

Shore Up Labor: With anticipated immigration changes, it’s crucial to secure reliable subcontractors and build strong relationships with your labor force.
Include Price Acceleration Provisions: Ensure your contracts account for potential price increases to protect your business from unexpected cost surges.
Plan Your Priorities: Take the time to set clear goals and priorities for the upcoming year to position your business for success.

Trent’s insights provided a clear roadmap for closing out 2024 responsibly and preparing for a legally sound and prosperous 2025. By taking these steps now, businesses can enter the New Year with confidence and clarity.

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Trent Cotney is a Partner with Adams & Reese and a Florida Bar Board Certified Construction Lawyer, licensed to practice in multiple states across the U.S. and in Canada. With nearly 25 years of experience, Trent has dedicated his career to serving the construction and roofing industries. He is a zealous advocate for the international commercial roofing sector and serves as general counsel for over 10 prominent trade associations and organizations, including the National Roofing Contractors Association (NRCA), Florida Roofing & Sheet Metal Contractors Association (FRSA), National Slate Association, Roofing Technology Think Tank (RT3), and Western States Roofing Contractors Association (WSRCA). Trent’s commitment to the industry extends beyond legal counsel; he is an active participant in education, advocacy, and innovation, working tirelessly to address the challenges contractors face and advance the industry as a whole. Known for his deep understanding of construction law and unwavering dedication, Trent Cotney remains a trusted advisor and leader in the roofing community.

Jill Bloom is the innovative Group Publisher of Roofing Contractor, Walls & Ceilings, Building Enclosure, Roofing Supply Pro, and the highly regarded Best of Success event. With a deep commitment to advancing the roofing, construction, and building enclosure industries, Jill oversees a robust portfolio of publications, podcasts, and events that empower professionals with knowledge, inspiration, and connections.

Her brands deliver exceptional value across multiple platforms, including:

Techos y Más, the Spanish-language eNews of Roofing Contractor.
Safety Advisor, an eNews focused on critical resources for jobsite safety.
Thermal Talk, an eNews focused on insights and news for the insulation contractor.
eRock, a leading eNews for drywall contractors.
The Enclosure Experts podcast, offering architects deep insights into building enclosure technologies.
If Walls Could Talk, a podcast dedicated to exploring trends and innovations for the wall and ceiling contractor.
The Best of Success Podcast, providing thought leadership and practical advice for roofing professionals.

Jill’s passion for professional development and fostering industry connections is exemplified by the Best of Success event, a premier gathering of contractors, suppliers, and thought leaders for unmatched education and networking.

John Wyatt is editor of Walls & Ceilings. He can be reached at wyattj@bnpmedia.com.