Asked and AnsweredBy John W. Olmstead, MBA, Ph.D, CMCQ. I am the founder and owner of a law firm in downtown Cincinnati, Ohio. I have three other attorneys and 4 staff members. We represent primarily business and civic organizations. Our fee revenues are around $735,000 per year and I take home $175,000 to $200,000 from the practice. I am looking to sell the practice to either the associates in the firm or another law firm. Do you have any idea what my firm might be worth?

All Illinois judges running for retention, as well as candidates for Illinois judicial offices who are running in the March 18 primary election, have been rated by Illinois State Bar Association evaluations committees, or in a poll of lawyers conducted by the ISBA. Results were made available today at www.isba.org/YouBeTheJudge.In Cook County, an ISBA Judicial Evaluations committee used the results of a questionnaire, background investigations, and in-person interviews to rate candidates for all judicial offices. Candidates for the Appellate and Supreme Court outside Cook County were also evaluated using this process.In counties outside Cook, the ISBA conducted an advisory poll of members in the circuit or district from which a candidate seeks election or retention. Licensed lawyers who are not members of the ISBA may request a ballot. The poll reflects the opinion of those lawyers who choose to respond, and not the opinion of the ISBA.

In its January meeting, the ISBA Board of Governors approved the following three ethics opinions addressing probate fees, conflicts of interest in representing partnerships, and UPL, respectively.Opinion No. 13-01: Fees and Expenses; Court ObligationsIt is not ethically permissible for a lawyer for a representative of a decedent's estate to enter into a fee agreement, or to collect a fee, for an amount in excess of the amount of fees allowed by a probate court as reasonable.Opinion No. 13-02: Arbitration and Mediation; Conflict of Interest; and Multiple RepresentationA lawyer ordinarily represents a partnership as an entity for conflicts of interest purposes. Where a lawyer has represented a partnership and all individual partners in various matters in a common representation, and one partner subsequently files an arbitration matter against another partner, whether the lawyer may represent the defending partner with informed consent will depend on the circumstances. Similarly, whether the lawyer can continue to represent the partnership or any of the partners in other matters with informed consent will depend on the circumstances.Opinion No. 13-03: Arbitration and Mediation; and Unauthorized Practice of LawA nonlawyer’s representation of parties to a FINRA arbitration generally constitutes the unauthorized practice of law.Visit the ISBA ethics page for full-text opinions dating back to 1980.

ISBA Director of Legislative Affairs Jim Covington reviews bills in Springfield of interest to ISBA members. In this episode he covers UM and UIM arbitration (Senate Bill 1636), Short-term guardian (Senate Bill 1565), Illinois Wage Payment and Collection Act (Senate Bill 1568) and Mortgage foreclosure (Senate Bill 1602). More information on the bill is available below the video.