Comments on: You Ask…I Answer – How Do I Counsel New Graduates?

By: Susan Cartier Liebel

Susan Cartier Liebel — Sat, 03 Apr 2010 14:18:16 +0000

Amanda, Thank you for your comment. It would take more than a comment in response to addrerss your questions. It’s also precisely why I created Solo Practice University, to provide that place for education and comfort. I am also contemplating teaching my ‘How to Hang a Shingle Right Out of Law School’ Class at SPU. The jury is still out, though

By: Amanda

Amanda — Tue, 30 Mar 2010 21:45:47 +0000

Susan,

I know a lot of students who are thrown into option of solo practice in this current job market. As a third year law student I’m actually looking forward to starting my own solo practice. It has long been my aspiration to have my own business. I am pretty confident with how I’ve prepared for expenses, marketing, etc. My main fear is the practical aspect of starting as a solo fresh out of law school! I hope to be mainly a transactional attorney (wills, trusts, bankruptcies, etc) as I do not have a very confrontational personality, but I am somewhat apprehensive in my lack of experience with the practical aspects of lawyering. Do you have any advice for building a library of form documents, tactfully explaining the issue of candor to new clients, or anything else in the practical realm of lawyering fresh out of law school?

Thank you!

By: Susan Cartier Liebel

Susan Cartier Liebel — Mon, 08 Mar 2010 12:31:28 +0000

Deborah, you’re not missing anything. Learning the ins and outs of building a solo practice never harms you and doesn’t preclude you from looking for work. In fact, if you are fortunate to get employment, having learned what is involved in becoming your own profit-center and self-contained business only stands you in good stead within employment. If the job doesn’t last you are only that much further ahead if you decide to go solo.

By: Deborah

Deborah — Mon, 08 Mar 2010 04:35:45 +0000

I understand the concern about student loans. Really. I get it. But there are no jobs out there anyway. At least with a solo practice it’s some work rather than no work. What am I missing?

By: Susan Cartier Liebel

Susan Cartier Liebel — Mon, 22 Feb 2010 17:23:59 +0000

Julie,

There is no ‘amount of time’. Quite frankly, if during the 3rd year of law school there are no nibbles, then start building your solo practice in your 3rd year. Building a solo practice and doing interviews are not mutually exclusive. But waiting and waiting for a job and nothing comes, you’ve wasted a lot of valuable time not building your solo practice!!

By: Julie A. Fleming

Julie A. Fleming — Mon, 22 Feb 2010 16:59:20 +0000

Susan,

If a law student really wants the Big Law job but the opportunity hasn’t yet presented itself, at what point do you recommend he or she start considering a solo practice? In other words, how long should they pursue the Big Law job before considering other options?

By: Susan Cartier Liebel

Susan Cartier Liebel — Thu, 18 Feb 2010 01:04:36 +0000

Liz, I always think about the loans! And you assume incorrectly I don’t support debt relief. However, having the obligation is not going to change the lack of other options available to those with a legal degree. Many people work within their loan obligations. Yes, private loans are a challenge and it is one of the problems with the financial aid offices of school. They want their payment and don’t fully explain the obligations and the time frame to satisfy those obligations upon graduation. They push students into private loans. I experienced it myself but fought back and made them wait until I got the federally backed loans. It might have been the circumstances or the counselor, but I prevailed and benefited from a loan program which extends 30 years and is forgivable at the end of the term (taken as income and taxable that year. It is also modifiable for hardship, unemployment and more.) However, I do believe there will be a breaking point and other options will present themselves. But this begs the question, no jobs and looming student loans? Do you try to practice or simply do nothing within your profession because of the debt?

By: Liz

Liz — Wed, 17 Feb 2010 23:15:06 +0000

Your points are valid, but you didn’t address the real worry: student loan payments.

Solo practice is not a steady source of income. There are some student loan deferments available while the new grad is building a practice, but they aren’t unlimited (private loans only offer 6 months) and they just push the pain down the road, often leading to higher payments later.

If you want new grads to be able to consider building their skills as a solo, I would think you would be a strong supporter of some sort of relief for heavily indebted students.