Re: Taking "The Plunge"

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Just go for it. And have fun doing it. Always CYA though because clients will
screw you.

On 10/24/06, Martin wrote:
> Won't they be dead?
>
> On 10/24/06, Carol wrote:
>> On 10/24/06, kris wrote:
>>> Carol,
>>>
>>> Just wanted to let you know that you, JF and some of the other *positive*
>>> posters in this board are a real inspiration. I'm planning to go solo in
>>> January - I have my office & phone number and little else. My main goal at
>>> first is to just meet operating expenses - luckily, DH has a good job and we
>>> don't have to have my income to pay the bills.
>>>
>>> How long did it take you and the other solos who actually practice law to
>> turn
>>> a profit (i.e., earn a buck). I love the advice about joining local
>>> organizations, chamber, etc. Could you let me know a little more about the
>>> "will party" you posted earlier? I've often thought this would be a neat
>>> idea, but was unsure how to actually go about it w/o being tacky.
>>>
>>> My plan is to practice bankruptcy/estate planning/probate. Anyone have
>> advice
>>> for a newbie, especially in these areas (please - no get out of law advice!)
>>>
>>> Thanks,
>>>
>>> Kris
>>>
>> As far as turning a profit, most people I know who went solo operated in the
>> red the first year, yours truly included. When you figure that it takes
>> months to settle even a simple PI and a year to collect on probate attorney
>> fees you have to do something else to bring in the money in the meantime. If
>> you're very unlucky you may not make anything for a couple of years, and may
>> even lose money. But I also know a couple of attorneys who hit the ground
>> running and did great right off. But they had background that helped them
>> specialize in a certain area and were able to cultivate that. As for the will
>> party, that was my sister's idea. right after I passed the bar we were
>> sitting around a friend's deck one night and she noted that she and her
>> husband had never made a will. several of the neighbors were there and stated
>> an interest but just didn't want to take the time out of work, ect. to set up
>> an appointment with an attorney, and didn't they need to have all of this
>> information together first, etc. As I was explaining that it can be very
>> simple, she suggested that maybe we could just all get together one evening
>> and make some out. It kind of took off from there. You have to be careful
>> about soliciting business, some states really frown on that. But she put the
>> word out to any of our friends that we were going to have a "will party" and
>> maybe even a living wake after for all of us who were interested. I brought
>> my laptop to not take any chances on confidentiality, everyone brought snacks
>> and drinks and the rule was no drinks till after the wills were signed. with
>> a simple will template it was very easy to just put in the names etc. Then
>> unrelated parties witnessed them. Two copies and if they wanted I'd keep a
>> copy at the office. After that, party! I have also gone to clients houses to
>> do wills and powers of attorney. I disagree that there no money in probate
>> unless you're well connected, I don't remember who said that but it's not
>> true. You get a farmer with a couple of hundred acres and you're got quite a
>> nice little attorney fee there. estate planning is good, the probate will
>> follow since families will almost automatically go the attorney who did the
>> estate planning or made the will. We don't charge much for a simple will for
>> more than one reason, the first is that it's so easy it hardly takes any time
>> and I won't gouge people just because I could. The second is that it creates
>> good will and they'll come back with the estate.