Practice News

The ARDC sent out an alert this week, warning all licensed attorneys in Illinois of scams targeting lawyers.

"We've had a number of lawyers contact us saying 'this happened to me,' " said ARDC Deputy Administrator and Chief Counsel Jim Grogan. "We feel that an educated bar is a protected bar."

Grogan added that the scams targeting lawyers have become more sophisticated.

"There are instances where people are now actually going into offices in person and setting up the scams," Grogan said. "Lawyers need to take protections and follow protocols when handling these checks."

The full alert is below.

Does the health care reform law impose a new real estate sales tax? That's the rumor floating around cyberspace, writes Emily Vivian in the latest ISBA Real Property newsletter. The answer: while the law doesn't impose a direct tax on real estate sales, "for certain individuals, it imposes a new 3.8 percent Medicare tax on 'net investment income,' which might result from a real estate sale," Vivian writes. Read her article and find out more.

Asked and Answered By John W. Olmstead, MBA, Ph.D, CMC Q. Our firm, a 12 attorney firm, in Detroit, is having a partner meeting next week focused on thinking about what we can do different in 2011 in order to have a more successful year. While we have a few ideas what are your thoughts? A. The economy is still posing challenges for many law firms and will continue to do so in 2011. Law firms must continue to be dilligent about managing costs but more importantly must really hone in on improving revenues. Here are a few ideas:

1. Take a serious look at the firm's present position in the marketplace. Review financials, compare against financial ratios, compare with both firm past history and against law firm benchmarks. Examine how well the firm is competing. Is the firm too dependent on a narrow base of clients? Is the practice at risk? Conduct a client survey and obtain client feedback both on firm performance as well as possible unmet needs and opportunities. Consider a comprehensive management review.
2. Formulate business goals and develop a strategic business plan as a roadmap for the future. Design and simplify business reports designed to measure the goals identified in the strategic business plan. Strive for a one page summary as the primary report.
3. Require all timekeepers in the firm to submit personal one page business plans which in addition to outlining goals for the year provided fee revenue goals with an element of stretch. The goals should have a stretch component but yet be realistic and attainable.

The Illinois Supreme Court has announced the appointments of Michael L. Stroh and James D. Orel to the position of associate judge. Stroh will reside in the 11th Judicial Circuit and Orel in the 18th. Mr. Stroh received his undergraduate degree in 1993 from Southern Illinois University and his Juris Doctor in 1996 from Southern Illinois University. He is currently affiliated with the Woodford County State’s Attorney’s Office in Eureka. Mr. Orel received his undergraduate degree in 1976 from Illinois State University and his Juris Doctor in 1983 from John Marshall in Chicago. He is currently engaged in practice with Garretson, Santora, Urgo & Nugent in Wheaton.