Asked and Answered

By John W. Olmstead, MBA, Ph.D, CMC

Q. I am the chair of our firm's executive committee. Our firm - located in downtown Columbus, Ohio - has 20 attorneys. In an effort to expand our practice and talent base as well as our geographic reach we are currently considering a seasoned lateral. We have a person in mind that currently works for a very large law firm. What suggestions do you have concerning starting the discussion and process?

Join us in Chicago on January 25^th and learn how to effectively manage the succession planning transaction – from preparing the business for sale and identifying potential buyers to winding down the business and tying up any loose ends. Business advice attorneys, general practitioners, and trusts and estate lawyers with basic practice experience who attend this full-day seminar will learn how to help clients prepare employees for the transition; effectively manage the proceeds of sale; create (and complete) the pre-sale checklist; transition the family business to the next generation; draft the necessary documents for the sale/purchase of a business; recognize important intellectual property issues throughout the transaction process; address environmental issues and concerns with the business; close down a business – with or without a purchaser for the business; and deal with the ethical considerations that may arise throughout the succession planning process.

The program is presented by the ISBA Business Advice and Financial Planning Section and qualifies for 6.0 hours MCLE credit, including 1.0 hour Professional Responsibility MCLE credit (subject to approval).

Click here for more information and to register.

Our panel of leading appellate attorneys review Friday's Illinois Supreme Court opinions in the civil cases Cooney v. Rossiter, EMC Mortgage Company v. Kemp, In re Marriage of Mathis and In Fennell v. Illinois Central Railroad Company.

ISBA President John Thies suggests three possible resolutions for lawyers to add to their list for 2013.

Illinois Supreme Court spokesman Joe Tybor is reporting the the Court has ordered the chief judge of the 22nd Circuit (McHenry County) to assign a judge from that circuit to preside over People v. Vanecko. Cook County Judge Arthur Hill recused himself from the case earlier this week.

Vanecko is the nephew of former Chicago Mayor Richard M. Daley and is charged with involuntary manslaughter in the 2004 death of David Koschman.

ISBA President John E. Thies and the entire ISBA family would like to wish a safe and happy holidays to you and your family.

Effective January 1, Illinois will be among the states that have enacted a modified version of the “make whole” doctrine for subrogation claims, Rockford lawyer Mark Rouleau writes in the latest issue of Trial Briefs, newsletter of the ISBA Civil Practice Section.

"The 'Make-Whole' or 'Made Whole' Doctrine is an equitable principle that a third party insurance company claimant will not receive any of the proceeds from the settlement or adjudication of a claim, except to the extent that the settlement funds exceed the amount necessary to fully compensate the insured for the loss suffered," Rouleau writes. "Only after the injured party has been fully compensated for all the loss does the third party claimant receive payment from the settlement or judgment." Read his article and find out more.

Beginning January 1, all eligible ISBA members will be able to earn up to 15 hours of MCLE, including all 6 hours of PMCLE* online at no additional cost. The free CLE programs will be available online 24/7 on our "Free CLE Channel" on FastCLE. Live on-site programs are not included in Free CLE at this time. The free online CLE programs that will be available Jan. 1 are: