Have you or anyone considered the pre paid legal services. I have heard of this and thought it might be a pretty good idea.
What makes you think it might be a pretty good idea? Because it sounds inexpensive? Because you sell pre-paid legal?
Some people think pre-paid legal services is a pyramid scheme.
I do not know anyone that has had a rewarding professional relationship established through pre-paid legal services.
There's an old saying: "you get what you pay for." If you work with a discounted commission firm, perhaps pre-paid legal services is right for you. If you believe in de-valuing the services provided by REALTORS(R), then why not de-value the services provided by lawyers.
Here's another idea: never mind calling a lawyer to help establish and maintain your firm: just get all your forms from Robert Shapiro's LegalZoom.com. And while you're at it, don't forget to incorporate in Nevada.
Good luck!
Lawson: Nice Post---This gives many of us insight on the importance and/or idea of incorporation. I actually had a company which consists of Judges, Business Attorneys to incorporate my firm name years ago. I guess I was planning early. :) My college friend-girl who happens to be a graduate from Yale who practices business law advised me of a few "legit" and totally good companies that will incorporate my business in my state correctly and for much less. I believe her practice charged $1150 at the time. I actually paid around $300. So the savings of $850.00 was well worth it.
Charles: While I have heard of "pre-paid Legal Services" in my area, I have not adopted the use of the services. I'm only vaguely aware of how the program in my area operates. I do know, however, that Pre-paid Legal may provide a service to those who may not be able to afford a private lawyer. However, if it's criminal charges someone is faced with: The court can appoint them a lawyer if they can not afford one. In other areas, there are also specific departments such as Legal Aid that will provide "free" or fairly reduced priced representation from qualified lawyers. Many of these lawyers come from a variety of specific backgrounds and firms within the area who commit to a certain number of Pro Bono work per year. Pro Bono is similar to free services for those in need. Many of the medium to large firms urge their associates to participate "x" amount of Pro Bono hours per specified term.
However, I do know, that it is always best to have an established relationship with an attorney to help you at a drop of a dime if you need help. Be it for real estate, personal, etc.
I was lucky to have established a great relationship with a real estate attorney early on. We met during a closing. I had shared with him a specific problem I was having with another file and he was extremely kind and willing to advise me on how to best handle the situation. I'm still thankful today for his help.
Believe it or not, there are actually some cool attorneys that will help you, want to establish a good relationship with you and will not bill you for every question, concern or piece of advice. I would suggest maybe establishing a relationship with attorneys who have conducted one of your closings---espcially those that may be in private practice and are in the early stages of building their practice.
You think the real estate profession is hurting: Trust Me--the legal profession is hurting much worse. Take a look at the number of large firms (1000+) associates that have closed doors, merged or completely downsized to the point that they are hiring new associates who will report to the firm --not in 2009 after graduation, but 2010!
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