Why don't I quit while we're still speaking?
December 10, 2011 9:57 PM Subscribe
Seeking advice on striking out under my own shingle as a lawyer -- if you've been here, please help.
I am a very young lawyer (graduated 2010, licensed for six months) and for personal reasons that are non-negotiable, the time has come for me to change my work situation asap.
Long story short, I've been working for a family member since mid-way through law school, first as a law clerk and as an attorney immediately upon getting my license. I've taken cases in family law, criminal defense, and some civil cases. I dabbled in probate but not as much as I'd like.
Because working with family blurs the line between "work problems" and "personal problems," I need to get out, now. I intend to give notice on Monday to be done there mid-January. I don't have a lot of money saved up because I've been putting spare cash towards paying down debt. I think I can have $1500 - $2000 by the time I plan to finish (unless giving notice gets me fired).
My plan is to do as much court-appointed work as I can while advertising for family law and criminal retainers. I am planning to work from home with a PO box and I have contacts to borrow conference rooms as needed. The idea is that this will go on for a year or so, at which point I will reassess with an eye towards having kiddos.
I am also applying for jobs in the area but realistically I must accept that I'm probably going to have to do this myself. I know what I need to earn to cover my bills and I am fortunate to have a living situation with a partner who provides plenty -- but it is very important to me that I continue to contribute. If you are in a position to know, please give me advice as to:
1. Whether my plan is insane and will I starve.
2. How much legal malpractice insurance cost when you started out.
3. How you decided on a legal research subscription.
4. How you started up your practice on six months or less of experience with little or no capital.