Related Posts
If you have your PMP, was it worth it?
Where/ how can I learn Azure?
Anyone here who left fed job and regretted it?
Coach
Hi, I'm leaving Citi in 2 months.It's hard to make this decision. I have an offer from a small startup.In citi, my previous experience was not considered and was reskilled to different tech which is the reason for change.I don't like to exit citi. As I like the company so much.But considering my current knowledge,I am in the middle of the sea.I am afraid now that the new company's offer would be revoked due to this recession?Or can I take back my resignation in citi before the last working day.Is this wise decision?
More Posts
Thank you for making us feel less alone Walter ♥️
Pro
What is the best way to invest in IPOs.
138k as an ACD in San Francisco - too low?
Any body got retention offer from LTI?
Additional Posts in Personal Injury Lawyers
Rising Star
Conversation Starter
New to Fishbowl?
unlock all discussions on Fishbowl.
And one other major problem for a young solo is valuing your cases - how do you know what to ask for to settle the case? How do you tell if an offer is sufficient? You could set your expectations so high that you take cases to trial even with decent money on the table and get a defense verdict, or undervalue cases and accept offers that are far below a reasonable settlement value.
What’s worse, you might be in a position where money isn’t coming in and you’re itching to get a fee, and are tempted to advise the client to settle now instead of progressing the case further. We have an attorney renting space from us who did exactly that, and got hit with a “surprise” Medicare lien that dramatically cuts into the client’s net proceeds AFTER settlement - a little more time and diligence on his part and he could have avoided what came next, which was the client insisting that he contest the lien and having to place the settlement in escrow while waiting MONTHS for Medicare to even respond to requests for waiver/compromise.
In short, the best thing a straight-outta-law school solo going in PI (or any field for that matter) can have is an experienced mentor. This is something you’ll have an easier time finding if you just hit the pavement and try to get into an established PI practice as an associate, and you’ll also ward off all the many prickly issues facing a fresh solo such as months of minimal income at best while you build a book of business.
Thanks a lot. Really appreciate it.
Going solo straight from school will be difficult and you'll likely struggle to find clients. Best to work for a firm for 2-3 years and get a few trials under your belt. Generally not that complex but you need to know the civil code and all deadlines like the back of your hand
I would do defense work and then save up enough to go solo plaintiff PI. Once you understand how the insurance companies work it's easy to identify valuable cases
There are so many pitfalls ranging from basic mechanics of litigation (e.g., do you know how to drafting a pleading, take a deposition?) to your geographic location (NYC where potential cases abound or rural Georgia where they do not) to your overhead and bankroll, that I would say your best bet is to work for someone for a couple years to figure out what it is that you don't know, and then work on those things, before taking this dive.
That said, people do it, and succeed, but they are the exception and not the rule.
I agree. It’s definitly a lot to learn as you go and manage the business side. One thing I should say that getting clients won’t be a problem for me. I do live in a community where the needs is there.
Another hidden problem for a solo with no bankroll/savings is you may luck into a sizable case, but not have the means to finance the expert witness expenses (various medical experts, accident reconstruction, etc.). The adjusters/defendants will know you can’t afford to prosecute a case with significant expenses involved and abuse you over it - offering little or nothing for resolution. You can quickly get in a situation where you’re unable to meet your burden of proof because you can’t afford to retain a key expert, which spells disaster for your client.
If you recognize early enough that you’ll need help with the finances, you can seek to co-counsel with a more experienced and well-heeled attorney. Your referral fee will take a dip if they’re bankrolling the case and likely they won’t want an unproven solo doing anything substantive on a big case, so there goes opportunities for invaluable experience.
I will say I had a close friend who went solo, referred a major wrongful death case, and even though he had little more than nominal involvement netted enough of a fee that he paid off almost all of bis student loan debt when the case resolved… so not necessarily a bad problem to have, but underestimating the expense of pursuing more complex cases like trucking accidents, product liability, or medical malpractice matters that might walk through the door can quickly put a young solo in a bind.