Partner in a small-mid size firm here. My practice is highly specialized, and I’m the rainmaker for that group. I am mobile and I’ve no need for a secretary or office, and due to Covid I have been entirely at home. My firm runs overhead for each partner equally. If I were on my own, my overhead would be less than $2,000 a year, but I enjoy the people and the safety net. I’d like to approach my firm about restructuring my agreement to have me pay less in overhead. Any ideas? Thanks.

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Also agree that starting your own firm is the real solution. The problem with your idea is that if the firm restructures your contribution to overhead, every single partner will want their own deal. The fact is all partners use the overhead differently- some must have assistants others never use them, some benefit from expensive ads in legal publications, for others that is useless. This drove my partners and I out of our midsize firm.

likesmart

Agree completely

Evaluate what the people and the safety net mean to you. If you ask for a new deal now because you aren’t “using” the overhead, those expenses do not go away and someone else will have to cover it and you will start a cascade of hard feelings and discontent. You need to be fair to your partners and yourself. It is a good topic to discuss as we will all be “re-imagining the work space” in 2021 so you can initiate the discussion more broadly and see how it develops. I run my firm with some varied deals depending on the attorney’s book, needs and usage but have always been very open with each partners P&L and achieve a fair balance.

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Love the above but in a pandemic, i find it wiser to imagine we do not know what 2021-2022 is made of. We may well be on the edge of the next Great Depression or ahead of a boom. I think we let the storm pass then revisit. Agree with all you said.

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That’s exactly why I started my own law firm eight years ago. No turning back - good luck to you.

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Agreed with the above. Ours is a virtual, women-owned firm of 70+ partners in 10 cities. We are looking for laterals too...

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