Where is the greatest demand for legal services?
Trust and estate litigation. Because of aging Baby Boomers and changes in tax laws, vast amounts of wealth are being transferred through these legal vehicles, and with those transfers come disputes. This area of practice is quickly becoming our busiest. We have a full team of lawyers who work on these types of cases every day all day.
What business advice would you give someone just starting in your industry?
Two primary pieces: (1) limit how much you spend in overhead and personal expenses until you get well established; in short, be frugal; and (2) establish clear parameters with clients concerning the scope of representation and the estimated costs; this is best achieved with a written retainer agreement and retainer. At the outset of each representation make sure the retainer agreement is reviewed and signed by the client and that a retainer is obtained. And then, a third piece of advice, however trite it may sound, is to work harder than you ever have to make your business a succes.