Asked and Answered
By John W. Olmstead, MBA, Ph.D, CMC
Q. I am the owner of a solo practice family law firm in Jackson, Mississippi. I have been in practice four years. I have been approached by a senior solo attorney that has a well established family law practice that generates $800,000 annually and is looking to sell his practice. We envision a merger where I would make an initial payment upon merging my firm with his and then buyout his interest over a five-year period. We have agreed on a fixed price for his ownership interest. However, we are not sure how to handle compensation. He wants to continue to work for another five to seven years. We would appreciate your thoughts.
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December 2, 2015 |
Practice News
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December 2, 2015 |
Practice News
Attorney Morris Lane Harvey discusses temporary relief in family law cases.
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December 1, 2015 |
Practice News
Chief Judge of the Seventh Judicial Circuit Kenneth Deihl is pleased to announce that Springfield attorney Jennifer M. Ascher has been appointed as Associate Judge and will be assigned to Sangamon County. Ms. Ascher was appointed to fill the vacancy created by the impending retirement of Associate Judge Steven H. Nardulli. Ms. Ascher will take her oath of office and start on January 11, 2016. Commenting on the selection, Chief Judge Kenneth Deihl states, “Ms. Ascher is a talented and respected family attorney. Her extensive trial practice and professional demeanor makes her well suited for judicial office. We look forward to her service in our justice system.” Ms. Jennifer Ascher received her undergraduate degree in 1999 from the University of Illinois at Urbana-Champaign and her Juris Doctor in 2003 from Saint Louis University School of Law. She is currently a partner at Sorling Northrup, where she has practiced family law nearly exclusively for the past twelve years. During her tenure, she represented clients in Sangamon County and surrounding counties. She is a Springfield native where she resides with her family. Ms. Ascher previously served as president of the Central Illinois Women’s Bar Association and the Sangamon County Bar Association.
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November 25, 2015 |
Practice News
Asked and Answered By John W. Olmstead, MBA, Ph.D, CMC Q. I am the managing partner of a 27 lawyer insurance defense firm in Orlando, Florida. In the last seven years we have grown from 10 lawyers to 27. Our firm is very dependent upon a handful of insurance companies and we are looking at ways to diversify our practice. Our rapid growth has caused us to outgrow our management structure. A few years ago we hired our first firm administrator to manage the business operations of the firm. We are now considering establishing a business development/marketing position to help focus our business development efforts. I would appreciate your thoughts.
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November 23, 2015 |
Practice News
By Susan Zielke, ISBA Standing Committee on Delivery of Legal Services As we celebrate Veterans Day, it is time to remember and thank the men and women who have served our country. According to the U.S. Department of Justice Access to Justice Initiative, there are more than 22 million U.S. veterans and 1.4 million service members, many of whom face serious challenges dealing with unemployment, health problems, and homelessness. The Department of Veterans Affairs’ Project CHALENG survey consistently finds that four of the top 10 unmet needs of homeless veterans involve legal assistance for eviction and foreclosure prevention, child support issues, driver’s license restoration, and outstanding warrants and fines. Other top 10 unmet needs also have a legal component such as family reconciliation assistance and financial guardianships.
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November 23, 2015
The Lawyers' Assistance Program hosted its Annual Dinner on November 13 at the Union League Club of Chicago. Lester and Judy Munson served as the keynote speakers. -
November 20, 2015
The ISBA Board of Governors heard from the committees regarding important items to the legal community at its meeting on Nov. 13 at the Chicago Office. It received and approved the final report from the Task Force on the Impact of Law School Curriculum and Student Debt on the Legal Profession. Task Force Chair Justice Ann Jorgensen presented the report to the Board. The Special Committee on Supreme Court Rule 711 presented a proposed amendment to the Rule to allow law students with a 711 license to practice with private attorneys – not just not-for-profit or governmental agencies. Committee Chair Judge Michael Chmiel presented the report. Both items were approved by the Board and will go before the ISBA Assembly on Dec. 12.
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November 19, 2015 |
Practice News
Bryan Sims, of the Sims Law Firm in Naperville and Chair of the ISBA Standing Committee on Legal Technology, shows how to save time using iPad keyboard shortcuts.
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November 19, 2015 |
Practice News
Our panel of leading appellate attorneys review Thursday's Illinois Supreme Court opinions in the civil cases Christopher B. Burke Engineering, Ltd., v. Heritage Bank of Central Illinois and In re A.A. and the criminal cases People v. Wiliams, People v. Guzman and People v. Castleberry. CIVILChristopher B. Burke Engineering, Ltd v. Heritage Bank of Central IllinoisBy Karen Kies DeGrand, Donohue Brown Mathewson & Smith LLC
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November 19, 2015 |
Practice News
Limited scope representation, a legal arrangement blessed by the Illinois Supreme Court for transactional work in 2010 and for litigation in 2013, provides attorneys the ability to represent clients for only part of a matter. Limited scope gives clients help with just what they need, at a more affordable price, and potentially brings pieces of business to attorneys that would not otherwise have arrived at their doorstep.So how have attorneys in Illinois put limited scope to work, and what are the potential advantages and drawbacks? Michael Brennan, a Grayslake-based sole practitioner who bills himself as The Virtual Attorney (see the October IBJ for more), sees an opportunity for lawyers to develop a completely different type of product."It offers new ways to do things and new ways to structure a practice," he says. Partly due to services like LegalZoom and Rocket Lawyer, "The consumer base is becoming knowledgeable before they even approach an attorney," he adds. "They're coming in with a rough draft [of a document]."Embracing that new reality is key for attorneys in 2015. Realizing it's there is the first step to realizing that the way to stay ahead in the marketplace is to embrace what these folks are doing, saying, 'Great, I'm happy you're coming in with your contract. Let me figure out the pros and cons [of the client's own work to date].'" Find out more in the December Illinois Bar Journal.