Author Topic: Any Lawyer Mustachians on here?  (Read 125892 times)

TrulyStashin

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Re: Any Lawyer Mustachians on here?
« Reply #300 on: August 28, 2015, 01:08:19 PM »
Well, I've just arrived home after cleaning out my office so it seems like a good time to post my update.

I'm in my home office, typing to you while looking out over the backyard.  Two bluebirds are perched on the fence outside my window, which is open thanks to the beautiful, unusually cool weather we've been having.  The sweet autumn clematis is blooming.  Life is good.

I'm now a solo practitioner.

On Monday, I'll join 90 other businesses at my new office -- a "co-working" space/ business incubator.  They have a gym.  And a keg with happy hours on Fridays for everyone whose business is housed there.  It costs $350 /month for me to have a desk (with secured space for client documents).  I can use the conference rooms to meet clients and phone booths for private calls.  They have a printer, scanner, fax, shredder -- all the infrastructure I need.  It's just a few blocks from my old office but miles away in spirit.

In late May, as issues with my firm were coming to a head, I started putting out feelers with solos that I know and others in my network.  I did tons of research -- read Foonberg's book, etc.  I ran the numbers, for both my personal budget and my prospective firm.  I touched base with my former boss (she recently launched a new business) and when she said she had tons of work for me, a little switch flipped in my head.  There's my anchor.  Another friend is helping me learn bankruptcy law -- a lucrative practice area.  I'm getting referrals.  In fact, just yesterday I got a call from a lawyer in Indiana who co-signed a lease for a friend in Virginia and it's a hot mess.  I'll likely be in court for him on Monday.

Never been in court before!

In addition to my former boss who is now my anchor client, opportunities to consult on an issue for which I have strong credentials recently arose.  I'd either have to forego those opportunities, or make the leap.  So, I jumped.   As a result, I'll be speaking to a group of about 50 general counsels in October.  I've got a blog post that will soon be published in a very prominent outlet.  And a friend who works in an aligned area wants to bring me in on a huge project her firm just landed -- my expertise is a perfect fit and no one else knows what I know.

As of September 1st, I'll be "Founder & CEO" of my PLC and of my LLC (consulting).   My law firm is branded toward corporate law clients but I have a second brand (a trade name) that is targeted toward consumers for family and bankruptcy law.   I will build all three lines of business at once. 

I am so very grateful that I found MMM 2.5 years ago.  Though I still have a long way to go on my debts, I am much better positioned now than I was two years ago.  My frugality muscle is also much stronger.   As soon as I decided to go solo, I altered my W4 and state withholding, and stopped my 401k and HSA contributions.  As a result, my last 3 paychecks have been fat -- enough to live on for 6 months, so long as I stay VERY disciplined.  The good news is that because the referral pipeline started immediately (for some projects my firm would not want anyway -- e.g. a divorce, the little civil case for the attorney in IN, two wills) I am already generating bills.  MY AR for August will be just over $3k.  And I have a $3,500 retainer in my trust account.  Not too shabby.

I am bound to fail at some things.  I am going to succeed at others.  It's going to be thrilling.  And scary.

But, it is mine and it will be whatever I build it.  That makes me happy.
I refinanced my student loans with SoFi and dropped my interest rate from over 7% to 3.9%.

ZiziPB

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Re: Any Lawyer Mustachians on here?
« Reply #301 on: August 28, 2015, 01:14:26 PM »
Wow, TrulyStashin, I didn't expect that but you go girl!  Good for you!  Sounds like it's the right move for you and you sound very happy about it.  Best of luck!



DCKatie09

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Re: Any Lawyer Mustachians on here?
« Reply #302 on: August 28, 2015, 01:15:06 PM »
Congratulations, TS!!! That is huge! It sounds like you've done all your due diligence and your hard work is already paying off - can't wait to hear more about how it goes. And being in an incubator space is amazing - the collaboration, energy, etc. It'll be great. Solo Practice University has a million good resources as well, if you haven't found them yet. Good luck!!

northernlights

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Re: Any Lawyer Mustachians on here?
« Reply #303 on: August 28, 2015, 01:42:27 PM »
Yay TS!

I'm a government lawyer married to a solo. My salary is about $94,000, he brings in around $65,000 most years. We're pretty frugal for lawyers, but definitely more stubbly than mustachioed. We both attended law school on full academic scholarships, so we had about $100,000 in debt between the two of us. I graduated in 2008, he graduated in 2004. I'm taking advantage of PSLF and am planning on staying with the government until I achieve FI or get so annoyed I join my husband in private practice.

Wile E. Coyote

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Re: Any Lawyer Mustachians on here?
« Reply #304 on: August 29, 2015, 09:35:01 AM »
That's great TrulyStashin!  Best of luck!

Bearded Man

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Re: Any Lawyer Mustachians on here?
« Reply #305 on: August 29, 2015, 11:49:29 AM »
I've considered going to law school, but would likely go to Montana for it. It's close enough to WA that checking on the rentals is a small road trip, and law school is about 40K in Montana for a ABA accredited program, with a 91% pass rate. I can always move back to WA to take the BAR exam.

Compare that to the 130K+ for an ABA accredited law school in WA...granted, you don't even have to go to law school, just study under an attorney or judge then take the BAR exam in WA.

OneCoolCat

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Re: Any Lawyer Mustachians on here?
« Reply #306 on: August 29, 2015, 12:08:31 PM »
Keep us updated on your adventure TS!  Best of luck!
I refinanced my student loans with Sofi from 6.8% to 3.805%.  Use my referral URL for a $100 welcome bonus if you refinance with Sofi:  https://www.sofi.com/refer/234/11233

Lentils5eva

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Re: Any Lawyer Mustachians on here?
« Reply #307 on: September 01, 2015, 10:33:23 PM »
Well, I've just arrived home after cleaning out my office so it seems like a good time to post my update.

I'm in my home office, typing to you while looking out over the backyard.  Two bluebirds are perched on the fence outside my window, which is open thanks to the beautiful, unusually cool weather we've been having.  The sweet autumn clematis is blooming.  Life is good.

I'm now a solo practitioner.

On Monday, I'll join 90 other businesses at my new office -- a "co-working" space/ business incubator.  They have a gym.  And a keg with happy hours on Fridays for everyone whose business is housed there.  It costs $350 /month for me to have a desk (with secured space for client documents).  I can use the conference rooms to meet clients and phone booths for private calls.  They have a printer, scanner, fax, shredder -- all the infrastructure I need.  It's just a few blocks from my old office but miles away in spirit.

In late May, as issues with my firm were coming to a head, I started putting out feelers with solos that I know and others in my network.  I did tons of research -- read Foonberg's book, etc.  I ran the numbers, for both my personal budget and my prospective firm.  I touched base with my former boss (she recently launched a new business) and when she said she had tons of work for me, a little switch flipped in my head.  There's my anchor.  Another friend is helping me learn bankruptcy law -- a lucrative practice area.  I'm getting referrals.  In fact, just yesterday I got a call from a lawyer in Indiana who co-signed a lease for a friend in Virginia and it's a hot mess.  I'll likely be in court for him on Monday.

Never been in court before!

In addition to my former boss who is now my anchor client, opportunities to consult on an issue for which I have strong credentials recently arose.  I'd either have to forego those opportunities, or make the leap.  So, I jumped.   As a result, I'll be speaking to a group of about 50 general counsels in October.  I've got a blog post that will soon be published in a very prominent outlet.  And a friend who works in an aligned area wants to bring me in on a huge project her firm just landed -- my expertise is a perfect fit and no one else knows what I know.

As of September 1st, I'll be "Founder & CEO" of my PLC and of my LLC (consulting).   My law firm is branded toward corporate law clients but I have a second brand (a trade name) that is targeted toward consumers for family and bankruptcy law.   I will build all three lines of business at once. 

I am so very grateful that I found MMM 2.5 years ago.  Though I still have a long way to go on my debts, I am much better positioned now than I was two years ago.  My frugality muscle is also much stronger.   As soon as I decided to go solo, I altered my W4 and state withholding, and stopped my 401k and HSA contributions.  As a result, my last 3 paychecks have been fat -- enough to live on for 6 months, so long as I stay VERY disciplined.  The good news is that because the referral pipeline started immediately (for some projects my firm would not want anyway -- e.g. a divorce, the little civil case for the attorney in IN, two wills) I am already generating bills.  MY AR for August will be just over $3k.  And I have a $3,500 retainer in my trust account.  Not too shabby.

I am bound to fail at some things.  I am going to succeed at others.  It's going to be thrilling.  And scary.

But, it is mine and it will be whatever I build it.  That makes me happy.

WHOA.  TS!  I wonder if your ears were buzzing today because I was thinking about you and wondering how things are going for you!  My goodness this is a big change from May!  I think this is amazing, and again, I admire your courage and tenacity.  I have every confidence that you are going to be a big success.  PM me your professional contact info - occasionally attorneys at my firm circulate a "does anyone know a lawyer with experience in X" emails, and if I spot any opportunities in VA, I will put you forward.

chesebert

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Re: Any Lawyer Mustachians on here?
« Reply #308 on: September 01, 2015, 11:39:02 PM »
Part-time big-law here -- sticking it out at the same firm mostly though sheer momentum (as opposed to seeking better hours, say, in-house).  I'm not entrepenurial like Totoro, and my best in-house opportunities are too far away to make sense.  Not sure how well it will work out in the end, but the beauty of being semi-FI is that it doesn't matter too much.

Over the same eight years in software engineering, your total compensation might progress from 150 to 500k, or more, and you reach the high levels much faster. I'm assuming a top performer for both

That's news to me, and I know a lot of software engineers.  I'm also a damn good programmer, so maybe I should go back into tech!

I showed up to the exam and got 173. It's a very easy test.

To add another data point, I think it's worth studying.  For me, it made the difference between scoring higher than Cathy and scoring way higher than Cathy.  Of course, you don't need to study for an entire year.   BTW, I'd wager my dick is also bigger than Cathy's.
What's your hours like as a "part-time" biglaw person? I'd imagine it would go from 60-70hr/week to 40-50hr/week. Aren't you still subject to all nighters when things are due/closing is happening and clients chasing you for stuff when you are on vacation? Do other lawyers at your firm respect your "part-time" status? Do you work more or less than your secretary (my benchmark for cushy job in a law firm)?

Rosbif

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Re: Any Lawyer Mustachians on here?
« Reply #309 on: September 02, 2015, 03:25:26 AM »

I am bound to fail at some things.  I am going to succeed at others.  It's going to be thrilling.  And scary.

But, it is mine and it will be whatever I build it.  That makes me happy.

Fantastic news, congratulations! I'm a couple of years out of a firm, and I don't know if I could ever go back to timekeeping for someone else.

TrulyStashin

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Re: Any Lawyer Mustachians on here?
« Reply #310 on: September 02, 2015, 09:51:17 AM »
Well, I've just arrived home after cleaning out my office so it seems like a good time to post my update.

I'm in my home office, typing to you while looking out over the backyard.  Two bluebirds are perched on the fence outside my window, which is open thanks to the beautiful, unusually cool weather we've been having.  The sweet autumn clematis is blooming.  Life is good.

I'm now a solo practitioner.

On Monday, I'll join 90 other businesses at my new office -- a "co-working" space/ business incubator.  They have a gym.  And a keg with happy hours on Fridays for everyone whose business is housed there.  It costs $350 /month for me to have a desk (with secured space for client documents).  I can use the conference rooms to meet clients and phone booths for private calls.  They have a printer, scanner, fax, shredder -- all the infrastructure I need.  It's just a few blocks from my old office but miles away in spirit.

In late May, as issues with my firm were coming to a head, I started putting out feelers with solos that I know and others in my network.  I did tons of research -- read Foonberg's book, etc.  I ran the numbers, for both my personal budget and my prospective firm.  I touched base with my former boss (she recently launched a new business) and when she said she had tons of work for me, a little switch flipped in my head.  There's my anchor.  Another friend is helping me learn bankruptcy law -- a lucrative practice area.  I'm getting referrals.  In fact, just yesterday I got a call from a lawyer in Indiana who co-signed a lease for a friend in Virginia and it's a hot mess.  I'll likely be in court for him on Monday.

Never been in court before!

In addition to my former boss who is now my anchor client, opportunities to consult on an issue for which I have strong credentials recently arose.  I'd either have to forego those opportunities, or make the leap.  So, I jumped.   As a result, I'll be speaking to a group of about 50 general counsels in October.  I've got a blog post that will soon be published in a very prominent outlet.  And a friend who works in an aligned area wants to bring me in on a huge project her firm just landed -- my expertise is a perfect fit and no one else knows what I know.

As of September 1st, I'll be "Founder & CEO" of my PLC and of my LLC (consulting).   My law firm is branded toward corporate law clients but I have a second brand (a trade name) that is targeted toward consumers for family and bankruptcy law.   I will build all three lines of business at once. 

I am so very grateful that I found MMM 2.5 years ago.  Though I still have a long way to go on my debts, I am much better positioned now than I was two years ago.  My frugality muscle is also much stronger.   As soon as I decided to go solo, I altered my W4 and state withholding, and stopped my 401k and HSA contributions.  As a result, my last 3 paychecks have been fat -- enough to live on for 6 months, so long as I stay VERY disciplined.  The good news is that because the referral pipeline started immediately (for some projects my firm would not want anyway -- e.g. a divorce, the little civil case for the attorney in IN, two wills) I am already generating bills.  MY AR for August will be just over $3k.  And I have a $3,500 retainer in my trust account.  Not too shabby.

I am bound to fail at some things.  I am going to succeed at others.  It's going to be thrilling.  And scary.

But, it is mine and it will be whatever I build it.  That makes me happy.

WHOA.  TS!  I wonder if your ears were buzzing today because I was thinking about you and wondering how things are going for you!  My goodness this is a big change from May!  I think this is amazing, and again, I admire your courage and tenacity.  I have every confidence that you are going to be a big success.  PM me your professional contact info - occasionally attorneys at my firm circulate a "does anyone know a lawyer with experience in X" emails, and if I spot any opportunities in VA, I will put you forward.

Thanks Lentils!  I'll PM you for sure.

So, for my first official day solo (Sept. 1) I sent out two bills.  One for $1140 and one for $2342!   On Monday, at the last minute, I wrangled a settlement that made my client VERY happy and so I could tell the judge to continue the return date for 30 days to give the parties time to perform.  That client called me today and asked if I'd give a discount if he overnighted a cash payment (his bill was for $2342).  So I should have $2k in cash on my doorstep tomorrow morning.  All from a referral that came in last Thursday morning!

I posted a "life event" on my FB page (which got over 120 "likes") and resulted in three PM's of people needing help (wills, restoring a felon's rights, a zoning case).  I'm sure lawyers at my former firm would look at this mish mash of matters and sniff, but I am having a ball.

My total start up costs are just over $5k at this point (mostly on technology and advertising).  My overhead is $590/ month.  I'm going to take the $ that comes in from yesterday's bills and reinvest it in advertising for some bankruptcy cases.

Giddy up!!
I refinanced my student loans with SoFi and dropped my interest rate from over 7% to 3.9%.

ReadySetMillionaire

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Re: Any Lawyer Mustachians on here?
« Reply #311 on: September 28, 2015, 02:11:04 PM »
So...hope all of you other lawyer mustachians are doing well. But here I am, incredibly bored at work and lacking motivation (again). I posted a while ago about this and had a decent summer, but I've plummeted back to just not caring.

I just can't be enthusiastic about boring cases and representing clients that I don't know. I just can't do it anymore.

For example, I drafted an answer and counterclaim in a mineral rights case this morning. I have no idea who the client is and what they're like. I simply can't get emotionally invested in whether they will win or lose this case because after drafting this document, I likely won't see the case again.

To the contrary, if I knew this client and this was my case, hell yes I would care about this case. I would be motivated to fight tooth and nail for them.

I know I should have this same fire and spark right now, but I just can't artificially produce that. I've tried for almost a year now and I simply can't.

All this moping has led me to one conclusion--despite the enormous risk, I think I want to start my own law firm. I have a handful of clients that I could bring with me. Nothing huge, but definitely enough that I could keep the lights on for a little while.

So a few questions:

(1) Am I having too much of a "grass is greener" attitude here?

(2) How long should I stick it out at my current firm? I know there's value in the experience/network here, so I know I need to get at least something out of this before moving on.

(3) How much should I have saved up before starting a small firm?

Thanks in advance, and sorry for the rant.
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kkbmustang

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Re: Any Lawyer Mustachians on here?
« Reply #312 on: September 28, 2015, 02:35:04 PM »
SNIP...


OneCoolCat... update?

I had the interview.  It went well but I could have done better to show interest in the position.  I had taken a lot of tax classes in law school, this was not a tax position, and the hiring partner asked me about my understanding of ERISA.  I told him i didn't study into ERISA too much in my classes and mentioned it was probably taught more in a employment law class.   

Thanks for asking!

I agree that ERISA is more of an employment-law thing but who knows... maybe when he was in law school, it was in tax law classes.  His surprise might be less an indicator of you being wrong and more an indicator of him being out of touch with law school curriculum. 

I haven't read through all of this thread, so forgive me is this was covered already:

ERISA practice is actually based in tax. Some, of course, is in the DOL realm, but the majority is based in the Internal Revenue Code. ERISA amended the IRC which is why qualified plans get tax preferential treatment. In my JD and LLM classes, ERISA was covered in tax classes, and still is (at least at my T1 law school).

TrulyStashin

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Re: Any Lawyer Mustachians on here?
« Reply #313 on: September 30, 2015, 08:02:16 AM »
......
All this moping has led me to one conclusion--despite the enormous risk, I think I want to start my own law firm. I have a handful of clients that I could bring with me. Nothing huge, but definitely enough that I could keep the lights on for a little while.

So a few questions:

(1) Am I having too much of a "grass is greener" attitude here?

(2) How long should I stick it out at my current firm? I know there's value in the experience/network here, so I know I need to get at least something out of this before moving on.

(3) How much should I have saved up before starting a small firm?

Thanks in advance, and sorry for the rant.

No, I don't think you're having a "grass is greener" attitude.  Having just done this, I remember the feeling of being detached from my work and apathetic.   Being a solo definitely removes that feeling and replaces it with....

Fear
Excitement
Happiness
Worry

That may not be better.  It's a personal decision.  I'm comfortable with uncertainty and calculated risks, so I'm okay with the cocktail of emotions listed above.  My *interesting* life history has taught me how to manage fear and worry while not letting the high moments get too high.  You have to step back and do an honest assessment of how you react to uncertainty and how you'll handle these emotions.

If uncertainty and risk are your worst nightmares, then being solo would be devastating.

Also ask yourself how good you are at networking.  You need to be REALLY good at networking in order to thrive.

Regarding money, I have about six months of cash stashed.  I'm told that is way too small a stash.  Maybe, we'll see.  October is the first month that I've had to tap that stash and it's mostly a choice I've made because I don't want to draw off my business account yet. Thank God for MMM and my frugality skills -- I can live on very little.

I'm hustling my ass off and so far I've generated about $8k in billables in my first month.  I haven't touched that money yet -- it's sitting in my business bank account while I think about how to allocate it and how big of a reserve I want to hold.   I ran up a credit card to start up my firms so maybe I'll pay that down.  But I might be better off spending some money on marketing.  Not sure yet.

Find some solo practicioners in your area and call them.  Go have coffee and talk to them.  Some other resources while you think about this:

http://www.americanbar.org/portals/solo_home/solo_home.html

http://myshingle.com/

And there are so many options for software and technology that make the firm management side easy:  Clio (for practice management), QuickBooks, RightSignature, Expensify, MetroFax. 
I refinanced my student loans with SoFi and dropped my interest rate from over 7% to 3.9%.

OneCoolCat

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Re: Any Lawyer Mustachians on here?
« Reply #314 on: September 30, 2015, 09:28:46 PM »
So I have an interview for a well respected midlaw firm.  Wish me luck!
I refinanced my student loans with Sofi from 6.8% to 3.805%.  Use my referral URL for a $100 welcome bonus if you refinance with Sofi:  https://www.sofi.com/refer/234/11233

TrulyStashin

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Re: Any Lawyer Mustachians on here?
« Reply #315 on: October 05, 2015, 08:19:53 AM »
Knock 'em dead, OCC! 
I refinanced my student loans with SoFi and dropped my interest rate from over 7% to 3.9%.

kkbmustang

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Re: Any Lawyer Mustachians on here?
« Reply #316 on: October 05, 2015, 01:46:01 PM »
So I have an interview for a well respected midlaw firm.  Wish me luck!

How'd it go?

Stash padawan

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Re: Any Lawyer Mustachians on here?
« Reply #317 on: October 05, 2015, 03:46:55 PM »
Hello fellow lawyers,

I've been practicing law for 3 years now (Canada), starting in a Midlaw firm and moving in-house in a TSX60 company (just under six figures salary, good RRSP match and bonuses). After looking both sides of the fence, I can definitely say that I don't enjoy my work (at all) and am currently looking into changing career. Law school was fun and interesting, but the day to day practice is a pain for me. Currently looking into getting a CFP title as I really like personal finances and it is fairly easy to transition from Lawyer to CFP in Canada. Would definitely go solo or in a small CFP firm and get my ideas out there!

I know this decision will have a direct impact on my compensation (could be next to zero in 2016 as I start my business), and it could mean pushing back the year my SO and I attain FIRE, but after thinking about it, I decided it would be better for me to earn (less) money from something I enjoy doing as opposed to something I hate.

Thanks, needed to vent!

kkbmustang

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Re: Any Lawyer Mustachians on here?
« Reply #318 on: October 05, 2015, 04:37:25 PM »
Hello fellow lawyers,

I've been practicing law for 3 years now (Canada), starting in a Midlaw firm and moving in-house in a TSX60 company (just under six figures salary, good RRSP match and bonuses). After looking both sides of the fence, I can definitely say that I don't enjoy my work (at all) and am currently looking into changing career. Law school was fun and interesting, but the day to day practice is a pain for me. Currently looking into getting a CFP title as I really like personal finances and it is fairly easy to transition from Lawyer to CFP in Canada. Would definitely go solo or in a small CFP firm and get my ideas out there!

I know this decision will have a direct impact on my compensation (could be next to zero in 2016 as I start my business), and it could mean pushing back the year my SO and I attain FIRE, but after thinking about it, I decided it would be better for me to earn (less) money from something I enjoy doing as opposed to something I hate.

Thanks, needed to vent!

Stash Padawan - I totally get it. I very vividly remember one year, after the head of my practice group communicated to me that I had earned a six figure bonus that year, feeling nauseous. I had essentially traded what I valued the most (relationships with my family and friends, my health, my sanity) for money. I thought I would be ecstatic and proud of my professional accomplishments. Instead I was just sad. It wasn't worth it. So, if you will have a better quality of life and enjoy your work, even if you earn significantly less money, that's totally ok.

OneCoolCat

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Re: Any Lawyer Mustachians on here?
« Reply #319 on: October 06, 2015, 04:17:31 PM »
So I have an interview for a well respected midlaw firm.  Wish me luck!

How'd it go?

Thanks guys!

I think *fingers crossed* it went really well.  I don't want to get my hopes up in case I don't get a CB, but I took it as a good sign when the department head unsolicitedly mentioned he had a two week time-frame in mind for initial interviews and asked if that was OK with me.  I think I really got it across that I was interested in the firm, the department, and the office. 
I refinanced my student loans with Sofi from 6.8% to 3.805%.  Use my referral URL for a $100 welcome bonus if you refinance with Sofi:  https://www.sofi.com/refer/234/11233

kkbmustang

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Re: Any Lawyer Mustachians on here?
« Reply #320 on: October 06, 2015, 10:29:21 PM »
So I have an interview for a well respected midlaw firm.  Wish me luck!

How'd it go?

Thanks guys!

I think *fingers crossed* it went really well.  I don't want to get my hopes up in case I don't get a CB, but I took it as a good sign when the department head unsolicitedly mentioned he had a two week time-frame in mind for initial interviews and asked if that was OK with me.  I think I really got it across that I was interested in the firm, the department, and the office.

Yay! Not sure if you're the praying sort, but I am, so unless you find it offensive or unwelcome, I'll say a prayer for wisdom and discernment for you.

LeRainDrop

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Re: Any Lawyer Mustachians on here?
« Reply #321 on: October 06, 2015, 10:58:22 PM »
Oh, Lord, I just heard today that my firm was considering a couple lateral partners for our practice group (we have been quietly searching for a few months), one of whom has one of the most abhorrent reputations as a boss and human being in our city.  Managing Partner (who is far outside of my practice group) reached out to some of us to explore.  One of my colleagues, who previously worked for the candidate at another firm about 10 years ago, told Managing Partner that if they hire this candidate, then he will immediately pick up his things, quit, and walk out.  Managing Partner thought that was funny, as colleague is a humorous guy, but colleague was like, "I am dead serious.  He is the worst human being I have ever met.  If you hire him, I will quit immediately."  We just got rid of one bully and have no desire to bring in another.  Fortunately, Managing Partner is a sensible guy, so the possibility of hiring the candidate is totally dead.  Phew!

TrulyStashin

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Re: Any Lawyer Mustachians on here?
« Reply #322 on: October 07, 2015, 11:23:06 AM »
So I have an interview for a well respected midlaw firm.  Wish me luck!

How'd it go?

Thanks guys!

I think *fingers crossed* it went really well.  I don't want to get my hopes up in case I don't get a CB, but I took it as a good sign when the department head unsolicitedly mentioned he had a two week time-frame in mind for initial interviews and asked if that was OK with me.  I think I really got it across that I was interested in the firm, the department, and the office.

Yay! Not sure if you're the praying sort, but I am, so unless you find it offensive or unwelcome, I'll say a prayer for wisdom and discernment for you.

+1   "prayer of wisdom and discernment".... LOVE that. 
I refinanced my student loans with SoFi and dropped my interest rate from over 7% to 3.9%.

kkbmustang

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Re: Any Lawyer Mustachians on here?
« Reply #323 on: October 07, 2015, 03:04:52 PM »
So I have an interview for a well respected midlaw firm.  Wish me luck!

How'd it go?

Thanks guys!

I think *fingers crossed* it went really well.  I don't want to get my hopes up in case I don't get a CB, but I took it as a good sign when the department head unsolicitedly mentioned he had a two week time-frame in mind for initial interviews and asked if that was OK with me.  I think I really got it across that I was interested in the firm, the department, and the office.

Yay! Not sure if you're the praying sort, but I am, so unless you find it offensive or unwelcome, I'll say a prayer for wisdom and discernment for you.

+1   "prayer of wisdom and discernment".... LOVE that.

Thanks! I quit praying for patience a very long time ago. I've found that if you pray for patience (particular if you're a parent to toddlers 23 months apart), you will be given far too many opportunities to practice it.

OneCoolCat

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Re: Any Lawyer Mustachians on here?
« Reply #324 on: October 16, 2015, 08:58:55 PM »
So I have an interview for a well respected midlaw firm.  Wish me luck!

How'd it go?

Thanks guys!

I think *fingers crossed* it went really well.  I don't want to get my hopes up in case I don't get a CB, but I took it as a good sign when the department head unsolicitedly mentioned he had a two week time-frame in mind for initial interviews and asked if that was OK with me.  I think I really got it across that I was interested in the firm, the department, and the office.

Yay! Not sure if you're the praying sort, but I am, so unless you find it offensive or unwelcome, I'll say a prayer for wisdom and discernment for you.

No dice.  Pretty bummed out because I thought everything went well but I'll just have to keep trying. 
I refinanced my student loans with Sofi from 6.8% to 3.805%.  Use my referral URL for a $100 welcome bonus if you refinance with Sofi:  https://www.sofi.com/refer/234/11233

kkbmustang

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Re: Any Lawyer Mustachians on here?
« Reply #325 on: October 25, 2015, 01:45:14 PM »
So I have an interview for a well respected midlaw firm.  Wish me luck!

How'd it go?

Thanks guys!

I think *fingers crossed* it went really well.  I don't want to get my hopes up in case I don't get a CB, but I took it as a good sign when the department head unsolicitedly mentioned he had a two week time-frame in mind for initial interviews and asked if that was OK with me.  I think I really got it across that I was interested in the firm, the department, and the office.

Yay! Not sure if you're the praying sort, but I am, so unless you find it offensive or unwelcome, I'll say a prayer for wisdom and discernment for you.

No dice.  Pretty bummed out because I thought everything went well but I'll just have to keep trying.

Bummer, sorry. Well it wasn't meant to be, then. Keep your chin up. You'll find something.

Field123

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Re: Any Lawyer Mustachians on here?
« Reply #326 on: October 26, 2015, 04:19:54 PM »
Fellow mustachian attorneys:

Apologies if this has been covered before, but my question to you all is WHAT would YOU do for a living if you left the practice of law?

I remember when I was making the decision to go to law school even though I had a strong suspicion that I wouldn't enjoy being an attorney I got a lot of feedback pushing me into law school with the idea that "It'll teach you to think like a lawyer which make you better and more employable for anything." Well, three years out of law school I can confirm that, other than the nice paychecks, there isn't much (anything) I enjoy about the profession.

Before MMM I had a totally unrealistic expectation of how much money I would need. Every decision -- from what I studied, to where I went to school to where I interned -- was based on what I thought would result in making the most money possible. The biggest value MMM and this community has had for me is the realization that I can be much happier on much less. So with that I'm reevaluating things...

So back to my original question: considering your JD and experience in law, what else would you do? And your answer doesn't have to necessarily be tangentially related to your prior experience, but it would help if its realistic. Just trying to get a brain storm going here.

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Re: Any Lawyer Mustachians on here?
« Reply #327 on: October 26, 2015, 08:57:55 PM »
To answer re: careers "outside of law," (hope this counts) I would love to work in law school career services and help students learn how to network, think big, think about what happens after their first or second law job, etc.

DCKatie09

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Re: Any Lawyer Mustachians on here?
« Reply #328 on: October 27, 2015, 05:12:34 PM »
To answer re: careers "outside of law," (hope this counts) I would love to work in law school career services and help students learn how to network, think big, think about what happens after their first or second law job, etc.
PM me if you want to know more - this is what I do. My original intent in going to law school was to work on education policy, and I still think policy work would be fun - I like the idea of getting to be right, and not having to worry about winning (true in my current job too, and one thing that kept me far away from litigation).

IllusionNW

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Re: Any Lawyer Mustachians on here?
« Reply #329 on: October 27, 2015, 09:00:05 PM »
@Gizsuat2, that's exactly what I was thinking!  I really do enjoy my legal job, but every once in a while I like to look and see what's out there.  Today I found out that the local law school is hiring a career counselor and I asked around to see what the salary was.  It's nearly a 2/3 pay cut, so it will probably have to wait until post-FI, but it's definitely the type of thing I would like to do.

FIREby35

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Re: Any Lawyer Mustachians on here?
« Reply #330 on: October 27, 2015, 09:41:07 PM »
So I have an interview for a well respected midlaw firm.  Wish me luck!

How'd it go?

Thanks guys!

I think *fingers crossed* it went really well.  I don't want to get my hopes up in case I don't get a CB, but I took it as a good sign when the department head unsolicitedly mentioned he had a two week time-frame in mind for initial interviews and asked if that was OK with me.  I think I really got it across that I was interested in the firm, the department, and the office.

Yay! Not sure if you're the praying sort, but I am, so unless you find it offensive or unwelcome, I'll say a prayer for wisdom and discernment for you.

+1   "prayer of wisdom and discernment".... LOVE that.

Hey, TS - It sounds like you are doing great! Keep hustling. I've got 4+ years of running my own practice and it has gotten better every year.

TrulyStashin

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Re: Any Lawyer Mustachians on here?
« Reply #331 on: October 28, 2015, 08:43:00 AM »
So I have an interview for a well respected midlaw firm.  Wish me luck!

How'd it go?

Thanks guys!

I think *fingers crossed* it went really well.  I don't want to get my hopes up in case I don't get a CB, but I took it as a good sign when the department head unsolicitedly mentioned he had a two week time-frame in mind for initial interviews and asked if that was OK with me.  I think I really got it across that I was interested in the firm, the department, and the office.

Yay! Not sure if you're the praying sort, but I am, so unless you find it offensive or unwelcome, I'll say a prayer for wisdom and discernment for you.

+1   "prayer of wisdom and discernment".... LOVE that.

Hey, TS - It sounds like you are doing great! Keep hustling. I've got 4+ years of running my own practice and it has gotten better every year.

Thanks!  I am LOVING this.  Every day is a little different.  If I start to get down, I pick up the phone and book a coffee or lunch meeting to build my network.  My "Daily Learning Index" is off the charts which is both terrifying and thrilling.  Holy smokes, the challenges keep coming and keep me excited and alive.  I never felt this way at BigLaw.

A month ago, I landed a client by referral.  I thought it would be a small, simple issue with maybe a $5k fee.  On Monday, new facts came to light -- the kind of facts that make you say "Holy shit!!! No, they didn't really do that, did they???"  Turns out this issue is screaming to be litigated.  My client has a VERY strong case -- both facts and law very much on my side (D breached fiduciary duty by self-dealing; presumption of fraud on D's part with burden of proof on D and "clear and convincing" standard for D to overcome).  We've agreed on a blended rate -- part retainer plus contingency fee of 30%.  Punitive damages and attorney's fees are available.  I'm working on the complaint now.  Hope to file on Monday.  Not sure of total value of claim yet, but somewhere north of $1.5M.

Plus, on my sustainability consulting side I've had ridiculous/ amazing opportunities come my way.  I had a call this week with one of the biggest entertainment firms in the world and they want a deck/ proposal.  In early Dec. I have meetings with 3 Fortune 100 companies -- two of which I have a very strong value-add for.

I'm having fun.  Yee haw!!!!
I refinanced my student loans with SoFi and dropped my interest rate from over 7% to 3.9%.

pbkmaine

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Re: Any Lawyer Mustachians on here?
« Reply #332 on: October 28, 2015, 08:59:14 AM »

Hello fellow lawyers,

I've been practicing law for 3 years now (Canada), starting in a Midlaw firm and moving in-house in a TSX60 company (just under six figures salary, good RRSP match and bonuses). After looking both sides of the fence, I can definitely say that I don't enjoy my work (at all) and am currently looking into changing career. Law school was fun and interesting, but the day to day practice is a pain for me. Currently looking into getting a CFP title as I really like personal finances and it is fairly easy to transition from Lawyer to CFP in Canada. Would definitely go solo or in a small CFP firm and get my ideas out there!

I know this decision will have a direct impact on my compensation (could be next to zero in 2016 as I start my business), and it could mean pushing back the year my SO and I attain FIRE, but after thinking about it, I decided it would be better for me to earn (less) money from something I enjoy doing as opposed to something I hate.

Thanks, needed to vent!

CFP, but not Canadian, so take this for what it is worth. If you are interested in financial planning and are already an attorney, what about trusts and estates law? When I was a practicing financial planner, I worked very closely with T&E attorneys. There is a lot of overlap. You could join a local financial planning association, get to know the practitioners and the issues their clients face, and work up a referral base.

pbkmaine

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Any Lawyer Mustachians on here?
« Reply #333 on: October 28, 2015, 09:00:39 AM »


Thanks!  I am LOVING this.  Every day is a little different.  If I start to get down, I pick up the phone and book a coffee or lunch meeting to build my network.  My "Daily Learning Index" is off the charts which is both terrifying and thrilling.  Holy smokes, the challenges keep coming and keep me excited and alive.  I never felt this way at BigLaw.

A month ago, I landed a client by referral.  I thought it would be a small, simple issue with maybe a $5k fee.  On Monday, new facts came to light -- the kind of facts that make you say "Holy shit!!! No, they didn't really do that, did they???"  Turns out this issue is screaming to be litigated.  My client has a VERY strong case -- both facts and law very much on my side (D breached fiduciary duty by self-dealing; presumption of fraud on D's part with burden of proof on D and "clear and convincing" standard for D to overcome).  We've agreed on a blended rate -- part retainer plus contingency fee of 30%.  Punitive damages and attorney's fees are available.  I'm working on the complaint now.  Hope to file on Monday.  Not sure of total value of claim yet, but somewhere north of $1.5M.

Plus, on my sustainability consulting side I've had ridiculous/ amazing opportunities come my way.  I had a call this week with one of the biggest entertainment firms in the world and they want a deck/ proposal.  In early Dec. I have meetings with 3 Fortune 100 companies -- two of which I have a very strong value-add for.

I'm having fun.  Yee haw!!!!
[/quote]

This is completely awesome. You go!
« Last Edit: October 28, 2015, 09:02:28 AM by pbkmaine »

ReadySetMillionaire

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Re: Any Lawyer Mustachians on here?
« Reply #334 on: October 28, 2015, 11:21:59 AM »
Hey, TS - It sounds like you are doing great! Keep hustling. I've got 4+ years of running my own practice and it has gotten better every year.
I too am thinking about going solo within about a year. You say our practice has gotten better every year. Any tips for people like TS and I, who are just now (or nearly in the future) starting our practices?
No more zero days. Promise yourself that you will do one thing every day that takes you one step closer to your goal.

FIREby35

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Re: Any Lawyer Mustachians on here?
« Reply #335 on: October 28, 2015, 07:23:03 PM »
Yeah, I've got a million ideas! Too many to type actually. But, seriously, I think the big themes are simple. First, use mustachianism to take/choose cases from a position of strength. Be able to hire a paralegal when your practice blows up. Be able to invest 10k on experts for the huge case that walks in the door. Being good with money is the biggest thing about running a solo practice.

Second, I think it is all about serving others. TS just said she has meetings with fortune 100 companies. But she isn't going looking for a job or some handout. She is going to add value. You can "add value" or, in my terms, serve others, for any community you choose. If you can identify your target client base, find out what they need and learn to provide it in a high quality manner - success will come.

Last, in BigLaw there is intense competition amongst attorneys and it seems like a zero-sum game for scarce billable hours. If you go into solo practice you can reach out to other solos. Cultivate referral relationships. Get a big case that you don't feel comfortable handling? Make a co-counsel relationship with another attorney and split the fee. Or refer the case to the attorney and get a split on the fee. You are solo but you are not alone.

You know, I love all the people on BigLaw on this thread. Seriously. But, I know that as a successful solo practitioner I have been able to earn way more money and work way less hours than 95% of BigLaw attorneys. It may not be for everyone, but anyone who is not satisfied with BigLaw should drop out. The people who think they "missed out" should forget about it. I've been in both places and I love being solo. I'm in control of my earning and my work schedule. I wouldn't trade it for the world.

TrulyStashin

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Re: Any Lawyer Mustachians on here?
« Reply #336 on: October 29, 2015, 11:00:37 AM »

Second, I think it is all about serving others. TS just said she has meetings with fortune 100 companies. But she isn't going looking for a job or some handout. She is going to add value. You can "add value" or, in my terms, serve others, for any community you choose. If you can identify your target client base, find out what they need and learn to provide it in a high quality manner - success will come.


This, exactly!!!   I start every day with a prayer for wisdom and discernment, and opportunities to serve others.  (hat tip to KKBMustang)  At the very least, it keeps me grounded and reminds me why I'm here.
I refinanced my student loans with SoFi and dropped my interest rate from over 7% to 3.9%.

Malum Prohibitum

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Re: Any Lawyer Mustachians on here?
« Reply #337 on: November 07, 2015, 08:11:28 PM »
I saw the pharmacy thread and couldn't help but wonder how many lawyer mustachians there are on here. If so, what kind of law do you practice? BigLaw, MidLaw, SmallLaw, or InHouse? Approximate salaries? Any debt left from law school?

I'll start: I'm a mid-law associate. I'm on the transactional side (no litigation for me) and mainly do general commercial contracts and corporate governance related work. Salary is pretty good, mid-to-low 100's, depending on bonus. Law school debt was just paid off last week!

You?

I graduated from a top 20 school in the 90s, practiced at small/mid firms starting in the 50K range and worked my way up to $120K.  I spent every damn dime and then some. 

Now I am a solo, and I am trying to save money like crazy.  My income, however, was less than six figures last year, and will probably be less or barely break the six figure mark by the end of this year.

Amazingly, I still have some debt left from law school, but since it is at 3.38%, I am not in a big, giant rush to pay it off.

Bearded Man

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Re: Any Lawyer Mustachians on here?
« Reply #338 on: November 12, 2015, 09:34:52 PM »
I've considered law school. Not sure if worth it at 34. In Montana ABA accredited law program is 40k total, 91% BAR pass rate. Again, with 500+k in the bank and s six figure engineering job, not sure if worth it. Uncle and bother are law lawyers and everyone fears them, lol

Malum Prohibitum

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Re: Any Lawyer Mustachians on here?
« Reply #339 on: November 13, 2015, 08:48:18 AM »
I've considered law school. Not sure if worth it at 34. In Montana ABA accredited law program is 40k total, 91% BAR pass rate. Again, with 500+k in the bank and s six figure engineering job, not sure if worth it. Uncle and bother are law lawyers and everyone fears them, lol
  I saw your other thread where you were wondering about this, so, as an attorney, I will chime in.  Are you freaking crazy?  You have a six figure income and more than half a million in the bank.  There is no way in hell I would interrupt that income stream and delay FIRE for many years to go to law school.  Financially, it would make absolutely no sense for you.  Odds are your income would be a lot lower out of law school as an attorney than what you are making now, if you can find work at all.  Setting up your own shop would mean finding paying clients or starving.

Once you are financially independent, if you want to do this in retirement just for the hell of it, and can pay for law school and expenses without affecting your FIRE status, then go for it. 

Otherwise, hell, no, it is not worth it, Bearded Man.

And nobody fears inexperienced attorneys, so, if you think just having a law degree will instill fear in others, here is a splash of cold water in the face, it won't. 

TrulyStashin

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Re: Any Lawyer Mustachians on here?
« Reply #340 on: November 13, 2015, 08:50:56 AM »
I've considered law school. Not sure if worth it at 34. In Montana ABA accredited law program is 40k total, 91% BAR pass rate. Again, with 500+k in the bank and s six figure engineering job, not sure if worth it. Uncle and bother are law lawyers and everyone fears them, lol

Aside from the career-switching question -- are you eager/ hungry for a HUGE new challenge -- you should also consider the opportunity cost. 

You should assume three years of law school with no income during that time.  Yes, you might get an summer internship that might pay a little, but it's not enough to matter, really.   If you started LS in the fall of 2016, your income stream would not likely resume until fall of 2019.  What's the difference in your 'stash when you account for that?  If you stay the course as an engineer, what will your salary likely be by fall of 2019?   You don't necessarily need to respond with answers to these questions.  I'm just suggesting these should be part of your decision matrix.

I refinanced my student loans with SoFi and dropped my interest rate from over 7% to 3.9%.

bridget

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Re: Any Lawyer Mustachians on here?
« Reply #341 on: November 13, 2015, 02:19:08 PM »
I've considered law school. Not sure if worth it at 34. In Montana ABA accredited law program is 40k total, 91% BAR pass rate. Again, with 500+k in the bank and s six figure engineering job, not sure if worth it. Uncle and bother are law lawyers and everyone fears them, lol

With all respect, you are crazy if you go to law school. From the University of Montana, a low six figure salary is literally the best you can hope for after graduating (and you'd be pretty damn lucky at that). So you'd forego any income for three years, and end up right where you started. For what?

And I'd put my money on your uncle and brother just talking big. I know lots of legitimately powerful lawyers and judges, and it is certainly not true that everybody "fears" them. All of the people they deal with that matter are equally qualified as they are, if not more.

ReadySetMillionaire

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Re: Any Lawyer Mustachians on here?
« Reply #342 on: November 13, 2015, 03:13:10 PM »
Also chiming in to Bearded's question:

I absolutely hate the negative crowd of lawyers that are so miserable with their job that they disparage anyone for attending law school. I generally think those people have a general attitude problem than a legal career problem.

But I too think you are absolutely crazy to go to law school. Others have pointed out the financial costs--you're delaying FIRE for a significant period of time and likely not making the equivalent salary on the back end.


But more importantly, in another thread, you expressed what I would deem terrible reasons to become an attorney. You wrote:

I've seen a few threads on other forums where people considered going to law school so people wouldn't mess with them so much. I've considered it myself. My uncle is an attorney and it really is amazing how afraid people are of attorneys. As someone who has been sued for a frivolous claim before, and won, I will say lawyers do seem to have a lot of power in society.

I've started and deleted about fifteen sentences to describe how truly awful your reason for wanting to attend law school is. I'm honestly struggling to find the words for it. But just to list a few bullet points so I can get out of the office:

-Don't want people to mess with you? When you become an attorney you are basically signing up for people (clients, magistrates, judges, and especially opposing counsel) to mess with you.

Example: I represent a contractor who has an outstanding reputation. This homeowner is going off the walls with everything and is threatening to defame my client if my client doesn't tear down his entire structure and start over. Now this guy is sending me a half dozen emails a day with "for settlement purposes only" and ending with "I reserve all rights and remedies," as if that means anything. I'm going to be dealing with this clown for at least a couple weeks, probably longer, and maybe even a year.

-Also on the don't want people to mess with you train--you're likely going to need to join a firm after graduate so you can get some experience. And when you're doing that, partners and other associates are going to control your life way more than you'd think.

-One thing you'll eventually learn that goes against what you posted--being right doesn't always matter. A partner here defended a case that I thought was a shoe-in for a defense verdict for us. Three day trial. Plaintiff's evidence sucked. And then the jury deliberated for 44 minutes and returned a $500,000 verdict for the Plaintiff. And now we are still on appeal.

-Take it from a young lawyer (in my second year practicing): opposing counsel will give you no respect until you earn it. They drop little lines in their emails (one from today: "Despite your posturing..."). They don't give you the time of the day on the phone. They talk over you at hearings. On and on.


Don't get me wrong, I enjoy being a lawyer. I'm looking forward to starting my own practice soon. But I can't think of a worse reason to go to law school than what you mentioned in your previous post.
« Last Edit: November 13, 2015, 03:17:02 PM by ReadySetMillionaire »
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dragoncar

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Re: Any Lawyer Mustachians on here?
« Reply #343 on: November 13, 2015, 06:11:13 PM »
I've considered law school. Not sure if worth it at 34. In Montana ABA accredited law program is 40k total, 91% BAR pass rate. Again, with 500+k in the bank and s six figure engineering job, not sure if worth it. Uncle and bother are law lawyers and everyone fears them, lol

I agree with everyone else that it's not financially "worth it"

But I disagree that you'd be crazy to do it.  If you love school, and really want to learn law, it could be worth it.  I'd sit in on a few classes first to see if it's really something you'd like.  Most first year classes are so large you could walk into any of them and nobody would wonder who you are. 

Note that, as a former engineer, the whole idea that law school "teaches you to think like a lawyer" is pretty useless for those already trained in logic.  The only thing it adds is a level of litigation paranoia.

TrulyStashin

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Re: Any Lawyer Mustachians on here?
« Reply #344 on: December 09, 2015, 10:45:24 AM »
Quick update (and I want to keep this thread alive and follow my fellow attorneys)......

Following up on a new connection I made at an ABA conference led to a trip to Cincinnati.  While there, I met with 3 highly desirable prospects and those meetings went well -- advanced toward closing them as new clients (for my consulting firm side).  Meanwhile, the contact I'd met at the ABA meeting suggested that I consider being General Counsel and Chief Sustainability Officer for his company.  He knows I don't want to relocate, so he's suggesting a 6 - 9 month contract to try it out.  It's an awesome opportunity that would catapult my career, positioning me to serve on corporate boards and filling a industry-experience resume gap.  It could also lead to a full time gig with an equity share (if I agreed to relocate after the trial -- it's 9 hours from home).

Then, yesterday, a consulting firm that I collaborate with asked if I'd be interested in joining them full time.  No, probably not, because I won't gain anything by that except a steady paycheck and I'm used to not having that by now.  I can keep them as a collaborator/ client and subcontract through them without having to join them.

Exciting stuff!  Plus, on a personal front, my house is rented out and my BF and I just bought a 800 sq ft condo in a wonderful part of our city -- walkable to everything.  The mortgage is so low (<$1k) that he told me not to worry about chipping in toward it, and to just go hard after my student loan debt.   No more grass cutting, weeding, gutter cleaning for me!!  I love being an empty nester!!

Cheers!  How's it going for everyone else?
I refinanced my student loans with SoFi and dropped my interest rate from over 7% to 3.9%.

Malum Prohibitum

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Re: Any Lawyer Mustachians on here?
« Reply #345 on: December 09, 2015, 12:15:44 PM »
Fellow mustachian attorneys:

Apologies if this has been covered before, but my question to you all is WHAT would YOU do for a living if you left the practice of law?

   Lumberjack.  In Alaska or the Pacific Northwest.  Maybe use my 'Stache to start a timber cutting company.

Sorry of that is off the wall, but you did ask.

DCKatie09

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Re: Any Lawyer Mustachians on here?
« Reply #346 on: December 09, 2015, 03:12:01 PM »
TS - awesome update! So great to hear that things are going so well.

Things are good in law school land. I love December (though students hate it) because it's the time when the 3L public interest post-grad offers really start to flow. In the last week I've had a fellowship, a clerkship, a JAG offer, two public defenders, and a couple gov't agencies come through. It's celebrating time with students!

FIREby35

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Re: Any Lawyer Mustachians on here?
« Reply #347 on: December 09, 2015, 08:40:48 PM »
Hey TS - Cool update. It makes me wonder if you think about the job you left and ask, "Why did I wait so long!" :) That's the thing about being solo, opportunities start to come from every angle. The issue is then about choosing the right ones.

Anyway, sounds like things are going well and congratulations.

TrulyStashin

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Re: Any Lawyer Mustachians on here?
« Reply #348 on: December 14, 2015, 07:14:11 AM »
Shew!  I just had to stroke a check for $5k to retain a forensic accountant for the wills litigation case I have.  That takes my business account down to about $800.00 which is SCARY.  I called two clients to collect little bills that they haven't paid yet.  I have about $1,000 coming in December.  I have $2k coming in January.  Deep breath.

I'm filing the wills lawsuit tomorrow -- $2M for breach of fiduciary duty, constructive fraud, conversion, and unjust enrichment.  Asking for punitive damages and attorney's fees (permitted by statute in wills/ POA/ estates cases).  I have a 30% contingency stake if we settle before trial; 35% if we settle during trial but before the jury returns.  Facts and law are both very favorable to us.

December is a real roller coaster of thrills and fear.

DCKatie09, when the semester ends do you get time off or do you use that time to regroup and plan?
I refinanced my student loans with SoFi and dropped my interest rate from over 7% to 3.9%.

Malum Prohibitum

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Re: Any Lawyer Mustachians on here?
« Reply #349 on: December 14, 2015, 12:00:43 PM »
I understand the case is a contingency case, but you are financing the cost of experts?