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VIDEO: Legal Prep for 2025

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

By John Wyatt, Editor, Jill Bloom, Executive Director, Walls & Ceilings, Trent Cotney

In this episode of If Walls Could Talk, W&C 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:

Legal Prep for 2025

In a year-end conversation, Trent Cotney of Adams & Reese shared actionable legal tips for businesses to effectively close out 2024 and prepare for 2025. Key insights included year-end planning strategies, addressing insurance challenges in storm-related work, and prioritizing labor, contract provisions, and goal setting to establish a strong foundation for the upcoming 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 lunch,” 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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John Wyatt is editor of Walls & Ceilings magazine, bringing more than two decades of experience with BNP Media. He joined the company in 2000 as an associate editor, contributing to both Walls & Ceilings and Roofing Contractor before assuming the role of editor in 2008. In addition to his work with the brand, Wyatt collaborates across BNP’s architecture, engineering and construction (A/E/C) portfolio, supporting related publications and initiatives. He can be reached at 248-205-6659 or wyattj@bnpmedia.com.

Jill Bloom is the innovative Executive Director 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 newsletter of Roofing Contractor.
Safety Advisor, a newsletter focused on critical resources for jobsite safety.
Thermal Talk, a newsletter focused on insights and news for the insulation contractor.
eRock, a leading newsletter 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.

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.