I opened my own law firm recently, and I will be meeting with retiring solo attorney to discuss an arrangement where he will bring me in on select personal injury cases and we split the fee 50/50. For lawyers that have done this before, how did this work out for you? I’m thinking for every good case, there’s likely going to be a “bad” case he’ll want me to consider taking.

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I represent solo and small law firms as outside General Counsel, I’ve got several client law firms with similar arrangements and it can be “win win” for a newer attorney and a retiring attorney BUT as you note you’re probably biting off more of the risk. I’d recommend a written general agreement outlining the relationship in addition to agreements for each case. DM me if you’d like to chat more, good luck!

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Thanks!

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Depending on your market standard I’d make sure to negotiate a better split. 50/50 is too high given overhead and risk you take on. What market are you in?

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60/40 or 2/3 1/3. In your favor. You’re providing him a service/exit. I’ve done several of these deals in past year. But different market. It’s just that at 50/50, he makes out better than you.

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Where'd you meet the retiring atty? Maybe im silly for this but when recruiters ask what I want, i tell them i am trying to meet a retiring lawyer to take over their busineds they love me but come up short haha.

Would love to know.

I suggest having an agreement where you discuss the split on a case by case basis. And that you discussed/cover with the split is going to be on expenses for each case, And the percentage of work each person is going to put into each case. And I would also have in the agreement that both parties need to have malpractice insurance at a certain amount.

So the attorney I work for has a really similar situation with an attorney who mentored him for years and years. I think I would try to negotiate a 60/40 split as that is the arrangement we have but other than that I think it is a great idea.

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