Best Practice: Law firm estate planning practice - Increasing summer demand

Posted on May 29, 2013 by Chris Bonjean

Asked and Answered

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

Q. Our firm is an estate planning firm located in the Chicago suburbs. We have three attorneys, four paralegals, and three staff support members. We have observed over the past three years a trend where our new matters and associated fee revenues starts a dramatic decline in April and continues to do so until August. In the past we have just remained in a state of denial and relied on hope and prayer. This year we would like to be more proactive. I would appreciate your thoughts.

A. You could try investing in some additional advertising designed to stimulate early demand for such services. However, short of a new tax or other regulation occurring this summer or a dramatic price reduction - i.e. get your will done and get your spouse's will for free - I doubt that such advertising will do much to create a reason to act now as opposed to the fall or end of the year. Then you would have the additional cost of the advertising and lower revenue as a result of the discount or special offer. I believe you might be better off focusing on cost reduction and cutting back on attorney and staff hours until demand picks up again in the fall.

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CLE: Introduction to Public Private Partnerships (P3s)

Posted on May 28, 2013 by Chris Bonjean

Join us in Chicago on June 6th to learn about the opportunities, benefits and risks involved in the use of public private partnerships with this informative seminar! As an attorney working in the construction law arena, it is important that you understand how public private partnerships are used to finance public improvements, as well as the public regulations and laws impacting the use of P3s. Construction law practitioners, local government attorneys, and other professionals working in the public construction field, including public procurement and public contract administrators, officials, and directors who attend this half-day seminar will better understand: how public private partnerships have become a necessary funding option in a struggling economy; how a conventional public private partnership is defined; the historical challenges faced by government entities using public private partnerships to fund infrastructure improvements; the audit and payment requirements for public private partnerships; the alternative delivery methods of public private partnerships; and the various statutes and regulations applicable to public private partnerships.

The program is presented by the ISBA Construction Law Section and co-sponsored by the ISBA Local Government Law Section. It qualifies for 3.75 hours MCLE credit.

Click here for more information and to register.

ISBA Ethics Opinion 13-01: Attorneys fees and representatives of a decedent's estate

Posted on May 28, 2013 by Mark S. Mathewson

The digest for ISBA's first ethics opinion of the calendar year, approved in January and designated number 13-01, reads as follows: "It 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."

In the May ISBA Trusts and Estates newsletter, Thomas Bransfield and Darrell Dies call the opinion a "must read." They take issue with its conclusion, however. "Unfortunately, the Opinion rendered by the Committee condemns attorneys from seeking payment of any 'disallowed portion' of a fee petition, even if the fee is reasonable and the client is willing to pay," they write. "This prohibition conflicts with the Probate Act that entitles attorneys to be paid reasonable compensation for services." Here's their analysis.

Quick takes on Thursday's Illinois Supreme Court opinions

Posted on May 23, 2013 by Chris Bonjean

Our panel of leading appellate attorneys review Thursday's Illinois Supreme Court opinions in the civil cases McFatridge v. Madigan, Standard Mutual Insurance Company v. Lay, In re Marriage of Mayfield and In re the Parentage of J.W. and the criminal cases People v. Henderson and In re M.I.

CIVIL

McFatridge v. Madigan

By Karen Kies DeGrand, Donohue Brown Mathewson & Smyth LLC

The State of Illinois need not pick up the litigation tab incurred by an elected state official in defending a civil lawsuit where the claim arises from certain types of misconduct, even if he acts in the scope of employment. Accordingly, the Illinois Supreme Court upheld a circuit court's dismissal of the complaint of Michael McFatridge, a former Edgar County State's Attorney, seeking to force Attorney General Lisa Madigan to approve payment of McFatridge's legal expenses.

Board of Governors vote to accept report on underfunding of courts

Posted on May 23, 2013 by Chris Bonjean

An Illinois State Bar Association special committee has issued a 64-page report that addresses the serious funding crisis facing Illinois courts. 

“The long-term goal should be more than just alleviating the funding crisis,” said ISBA President John E. Thies, of Urbana. “Restoring courts to their proper place as a co-equal branch of government will return to the citizens of Illinois far more than the amount invested.”

In June 2012, Thies appointed a Special Committee on Fair and Impartial Courts, co-chaired by Illinois Circuit Judge Patricia P. Golden (Ret.), of West Dundee, and Illinois Appellate Court Justice James M. Wexstten, of Mt. Vernon. Their report and recommendations, which were accepted on May 17 at a meeting of the ISBA Board of Governors in Galena, will be voted on by the ISBA’s policy-making Assembly when it convenes on June 22.

According to the report, “The ability of the courts to deliver fair, timely and professional service has been degraded over the last dozen years by three trends: unpredictable budgets, cuts in real allocations, and disproportionate cuts. Funding cuts have affected all aspects of the judicial process.”

To identify the areas of special concern, the committee surveyed the chief judges of each judicial district in Illinois, as well as practicing lawyers. They then identified several problem areas and made recommendations that include the following:

Today is final day to make room reservation for Annual Meeting

Posted on May 22, 2013 by Chris Bonjean

The deadline for making your room reservation for the ISBA Annual Meeting is Wednesday, May 22 at the ISBA Headquarters Hotel – Grand Geneva Resort & Spa.

To make your room reservation at the Grand Geneva, please call 855.833.5345 and reference reservation code #7524VF or indicate you are attending the ISBA Annual Meeting. The room rate is $175 (single/double) plus resort fee and tax. A deposit on first night's lodging is required. Please note: It is strongly advised that golf tee times be booked in advance of the meeting to secure a spot on the courses.

More information on the 137th Annual Meeting is available at www.isba.org/annual

Illinois Supreme Court disbars 11, suspends 25 in latest disciplinary filing

Posted on May 22, 2013 by Chris Bonjean

The Supreme Court of Illinois has announced the filing of lawyer disciplinary orders entered during the May Term 2013. Sanctions were imposed because the lawyers engaged in professional misconduct by violating state ethics law.

The attached list contains the name of each disciplined lawyer, the address at which the lawyer last practiced, and a brief summary of the misconduct that led to the sanction. The announcement of the orders may be reviewed at the Supreme Court of Illinois website: www.state.il.us/court. Unless otherwise noted, the mandate of discipline issued immediately.

Best Practice: Law firm mergers: The importance of a timeline and project plan

Posted on May 22, 2013 by Chris Bonjean

Asked and Answered

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

Q. We are a 4 attorney firm in Columbus, Ohio. Three of our partners are in their 60s and contemplating their exit strategies. We have a very profitable high profile practice and have been approached by a couple of very large firms concerning possible merger. We believe that this would be our best exit strategy. What mistakes have you seen other firms similar to ours make that we should avoid?

Women in the Law Committee to host "You Had Me at Hello - Using the Rules of Gender Communication"

Posted on May 22, 2013 by Chris Bonjean

Andrea S. KramerThe ISBA Standing Committee on Women and the Law will host "You Had Me at Hello - Using the Rules of Gender Communication" program and reception on Wednesday, June 12 from 4-6 p.m. Andrea S. Kramer of McDermott, Will & Emery LLP in Chicago will be the speaker for the event at Loyola University Chicago School of Law, 25 E. Pearson, in the Power, Rogers & Smith Ceremonial Courtroom.

The program will be followed by a networking reception. RSVP for this free program by June 5 to Janet Sosin at jsosin@isba.org.