Asked and Answered
By John W. Olmstead, MBA, Ph.D, CMC
Q. I am the sole owner of a six-attorney estate planning practice in Phoenix, Arizona. The five associates have been with me from five to fifteen years. I just turned 55 and would like to retire when I am 65, either by selling my practice to another firm or to one or more of my associates. I would like to receive some remuneration for the sweat equity that I have invested (goodwill). I have tried over the years to set up my practice in a way that it is not “just me.” I changed the name of my firm to a trade name that does not include my name, arranged the lawyers’ names on our letterhead and website alphabetically, and eliminated designations such as principal and associate. I believe that I have made it difficult for clients and prospective clients to know who the boss is. I hope that this will make my firm more salable and appealing in the future. I would appreciate your comments.
ISBA members, sign up to receive The Bar News' biweekly e-newsletter by emailing emailpreferences@isba.org
-
September 13, 2017 |
Practice News
-
September 12, 2017 |
CLE | ISBA News
ISBA hosted a two-day CLE program designed to help attorneys who represent children from September 7-8 at the Chicago Regional Office. Back by popular demand, the Guardian ad Litem, Child Representative, and Attorney for Minor Child Training covered the role, scope and limitations of representation; the conflicts that will limit the role of the appointment; child development issues, including mental health, milestones, attachment, and parental separation; and much more. The program wound down on Friday evening with a networking reception for attendees to network and mingle.2 comments (Most recent November 3, 2017)
-
September 11, 2017 |
Practice News | CLE | ISBA News
Beginning with the N-Z reporting period ending June 30, 2019, Illinois attorneys must complete at least one our of diversity and inclusion CLE and one hour of mental health and substance abuse CLE during each two-year reporting period, or participate in a yearlong Lawyer-to-Lawyer Mentoring Program (S. Ct. Rule 795(d)). The rule changes reflect an effort to address the impact of the legal profession's diversity challenges on the justice system. Additionally, the new rules seek to encourage lawyers to explore ways to increase their health and well-being because statistics show that judges and lawyers suffer from mental health and substance abuse issues at a significantly higher rate than does the general population. ISBA has several courses to help you satisfy the requirements under the new MCLE rule change, including:
-
September 11, 2017 |
Practice News
Robert F. Harris has been appointed a Cook County Circuit Judge in the 5th Subcircuit by Justice Mary Jane Theis and the Illinois Supreme Court. Mr. Harris was appointed to fill the vacancy created by the retirement of Judge Edward Washington. The appointment takes effect September 21, 2017, and will conclude on December 3, 2018, when the position will be filled by the 2018 General Election. "I'm deeply honored to be chosen from a field of accomplished and talented people to be selected as a judge in the Circuit Court of Cook County," Harris said. "I look forward to this new path as a servant to the public and I will work hard to become an exemplary member of the judiciary."
-
September 11, 2017 |
Member Services
Be different. Be better. Find inspiration in the most unexpected places with a Lenovo PC. Best of all, ISBA members instantly save up to 42% off select technologies during the month of September on devices engineered and designed for maximum productivity. Don’t forget to protect your device, upgrade your service warranty! Deals are only valid while supplies last! Shop now: Up to 42% off Lenovo Mobile PCs Up to 30% off Lenovo Accessories Up to 25% off Lenovo Service Warranty Upgrades Up to 20% off Lenovo Think Laptops and PCs Up to 20% off Lenovo Tablets Visit: http://www3.lenovo.com/us/en/statebar Call: 1-800-426-7235, ext. 3577 (M-F: 9am-9pm ET, Sat: 9am-6pm ET) Be sure to check the website often – special offers change frequently. Remember, these special monthly offers are tailored specifically for you and include: FREE shipping on all web orders, access to energy-efficient green technologies and award-winning service.
-
September 8, 2017 |
Practice News
Charles S. Beach was appointed as a Cook County Circuit Judge in the 6th Subcircuit by Justice Mary Jane Theis and the Illinois Supreme Court. Mr. Beach was appointed to fill the vacancy created by the resignation of the Hon. Richard C. Cooke. The appointment takes effect Sept. 15, 2017 and will conclude on Dec. 3, 2018, when the position is filled by the November 2018 General Election.
-
September 8, 2017 |
CLE
Don’t miss this full-day seminar in Chicago or via the Internet on October 5, 2017 that explores the new changes to the bankruptcy rules, as well as the advanced issues you need to know when handling your next bankruptcy case. Attorneys with intermediate practice experience who attend this seminar will better understand: the new Chapter 13 Plan; how to present evidence in bankruptcy cases; dischargeability issues; Motions to Dismiss under Section 707(b)(3) and objections under Section 727; recent student loan case law and legislative updates; and much more.
-
September 7, 2017 |
ISBA News | Member Services
The Illinois State Bar Association’s Lawyer Finder Service provides referrals to local lawyers Mondays through Fridays. The Service makes referrals in a number of areas of law. For the month of August 2017, there were a total of 1,232 calls. ISBA helped people in need of legal services find lawyers in the 36 areas of law. Here are the results for August 2017:
-
September 7, 2017 |
ISBA News | Practice News
Jeff Salling, e-discovery counsel and director of business development at Complete Discovery Source, discusses how the ISBA Lawyer-to-Lawyer Mentoring Program helped bridge the gap between law school and the practice of law.
-
September 7, 2017
It is well known that law is a stressful career path. What isn't as well known is that a significant number of attorneys suffer from addiction and other mental health issues. There has been surprisingly little research done on this topic. In 2016, the Hazelden Betty Ford Foundation and the American Bar Association Commission on Lawyer Assistance Programs conducted a study of addiction and mental health issues in the legal community (http://bit.ly/2fvjAFS). The study, available at http://bit.ly/1V72V50, indicates a large-scale problem. Recently, a lively thread on the ISBA's litigation discussion group was kicked off with a link to a widely read New York Times article about an addicted lawyer's death and what the author describes as a "web of drug abuse" in the legal profession (http://nyti.ms/2v3K4kW). So how big of a problem does the profession have? The ABA/Betty Ford study surveyed 12,825 licensed, employed attorneys. Those attorneys completed surveys where they self-assessed their alcohol use, drug use, and symptoms of depression, anxiety, and stress. A whopping 20.6 percent of lawyers screened positive for potentially alcohol-dependent drinking. The study also showed high levels of depression (28 percent), anxiety (19 percent), and stress (23 percent). Find out more in the September Illinois Bar Journal.1 comment (Most recent September 7, 2017)