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Month: November 2021

Nate Dinger: Signature Bank | THE 1958 LAWYER Podcast

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Nate Dinger is the Senior Vice President of Commercial Banking at Signature Bank – he helps small, mid sized businesses, and law firms in Chicago manage their finances. Often times lawyers don’t have any time to take care of their own firm’s financial concerns so Nate, along with Signature Bank, helps them through financial advise, management and even through giving out loans for cases – which is uncommon since banks usually see court cases as high risk situations.

Nate also talks about their company vision and focus of being a relationship-based bank. He discusses the big difference between knowing a guy or a gal and calling a generic phone number since people feel more valued when talking to a legitimate person than a service line.

Key moments:

  • How lawyers can benefit from commercial banks (3:10)
  • Relationship-focused banking (10:41)
  • Financing cases through commercial banks (16:01)
  • Character as the most important of the four C’s (20:16)

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MEMORABLE QUOTES

Nate Dinger

“When the suns shining and everything’s going fine, you might not need them. But on a rainy day, when things get shaken up a bit, it certainly helps to have a warm body to call.” Nate Dinger.

ABOUT NATE DINGER

Nate Dinger, Senior Vice President, Division Head – Commercial Banking at Signature Bank

Commercial Banking

Nate Dinger is the Senior Vice President of Commercial Banking at Signature Bank – he helps small, mid sized businesses, and law firms in Chicago manage their finances.

Website: http://www.signature-bank.com/index.cfm

LinkedIn: https://www.linkedin.com/in/dinger/

Have comments, questions, or concerns? Contact us at [email protected]

“The 1958 Lawyer and his 1938 Dollar” still defines the business of law…
It’s time for a change.

If you’re a lawyer, you’re familiar with the ABA article “The 1958 Lawyer and his 1938 Dollar” which gives our podcast its title, and its inspiration. That article was the start of the billable hour for law firms…And the last major change to the business of law, 70+ years ago now. Well, it’s past time for another change.

This podcast is all about bucking the status quo of the business of law. Your host Ron Bockstahler runs Amata Law Office Suites, providing law firms an alternative to the traditional fixed-cost business model that places unwanted stress on attorneys to work long hours that often-times lead to burn out, broken relationships and in many cases substance abuse. Each week he’ll discuss alternatives to the 12 hours days, endless rotation of clerks and paralegals, and the expensive offices leased to impress clients who rarely show up in person anymore. He’ll interview successful lawyers who are doing law differently, and finding a work-life balance while still running a successful firm.

Do you want to find a better way to run your law firm? It’s time for the next big change in the business of law, and you’ll get it here on The 1958 Lawyer.

More episodes of The 1958 Lawyer podcast

Discover our networking events for Chicago lawyers.

Steve Mesirow: Mesirow Financial | THE 1958 LAWYER Podcast

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Steve Mesirow is the Senior Managing Director in Mesirow Wealth Management and he has been providing expert investment advice and financial planning strategies to his clients for over 25 years. In this episode, Steve talks about how law businesses are at a disadvantage because they register their taxes at the highest rates. He discussed all the ways in which lawyers can build and protect their wealth in a tax-advantaged way.

Through systems called Cash Balance Plan, Donor Advised Funds, Profit-sharing, or Roth IRA, lawyers can do their best at their career without losing any of their well-earned money. Steve also talks about all the ways in which his company helps people – lawyers or otherwise – worry about things that are impactful, helping them save money in ways that are meaningful in the big picture.

Key moments:

  • Building and protecting wealth through a cash balance plan(2:07)
  • Deduction through donor advised funds (14:02)
  • The difference between fiduciary and non-fiduciary (23:22)
  • Saving money in meaningful ways  (26:41)

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MEMORABLE QUOTES

Steve Mesirow

“The best use of your time is to work on your business and not be following down the rules of different financial planning aspects or chasing down a couple of stocks. That might not be the best utilization of your time.” – Steve Mesirow

ABOUT STEVE MESIROW

Steve Mesirow, Senior Managing Director in Mesirow Financial

Wealth Management and Financial Planning

Steven Mesirow is a Senior Managing Director in Mesirow Wealth Management. He provides investment advice and financial planning strategies to individuals, business owners and charitable organizations that are designed to help accumulate, manage and preserve wealth.

Steven joined the firm in 1993 and has more than 25 years of financial services experience.

Steven serves on the Jewish United Fund Health and Human Services subcommittee. He has developed a social investment strategy; Mesirow Impact Management – a portfolio strategy that invests in companies with a positive corporate culture.

Steven earned a Bachelor of Arts degree in history/political science from the University of Michigan, a Master of Arts in history from the University of Maryland and a Management Aptitude Test in teaching from the American University. Steve is a CERTIFIED FINANCIAL PLANNER™ (CFP®) professional and a Certified Fund Specialist™ (CFS™).

LinkedIn: https://www.linkedin.com/in/stevenmesirow/

Website: http://www.mesirowfinancial.com/

Have comments, questions, or concerns? Contact us at [email protected]

“The 1958 Lawyer and his 1938 Dollar” still defines the business of law…
It’s time for a change.

If you’re a lawyer, you’re familiar with the ABA article “The 1958 Lawyer and his 1938 Dollar” which gives our podcast its title, and its inspiration. That article was the start of the billable hour for law firms…And the last major change to the business of law, 70+ years ago now. Well, it’s past time for another change.

This podcast is all about bucking the status quo of the business of law. Your host Ron Bockstahler runs Amata Law Office Suites, providing law firms an alternative to the traditional fixed-cost business model that places unwanted stress on attorneys to work long hours that often-times lead to burn out, broken relationships and in many cases substance abuse. Each week he’ll discuss alternatives to the 12 hours days, endless rotation of clerks and paralegals, and the expensive offices leased to impress clients who rarely show up in person anymore. He’ll interview successful lawyers who are doing law differently, and finding a work-life balance while still running a successful firm.

Do you want to find a better way to run your law firm? It’s time for the next big change in the business of law, and you’ll get it here on The 1958 Lawyer.

More episodes of The 1958 Lawyer podcast

Discover our legal support staff for lawyers in Chicago.

How Flexible Attorney Offices Future-Proof Your Legal Practice

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In 2021 working from home has become the new normal. For some, this may still feel like a big transition, but it’s essential to stay up-to-date with changing expectations in the professional world. This goes for all business owners, and is especially true for law offices hoping to stay relevant in a competitive legal climate.

So how can you “future-proof” your legal practice? Think of “future-proofing” as anticipating trends and adapting your law practice to embrace the newest technology. With tech updates, flexible law offices, and cloud-based solutions, your legal practice will be ready to take-on the future.

 

What is a Flexible Law Office?

A flexible law office offers attorneys the opportunity to customize their schedule. This means that attorneys select their work hours and may conduct work from any location. Although a flexible office format might seem too unstructured at first, many attorneys are eager to work in an environment that values their personal preferences and offers an adaptable schedule.

According to an article in Reuters, “a recent survey from legal recruiter Major, Lindsey & Africa found the vast majority of the incoming generation of lawyers prefer to work remotely at least some of the time.” Fostering an environment that values a healthy work / life balance and encourages flexibility is key to maintaining a thriving law practice.

 

What Tools Do You Need to Get Started?

While flexible law offices are the way of the future, it’s unrealistic to expect to transform your law practice overnight. Before you offer lawyers the flexible schedule they crave, you need to implement tools and resources to make the transition possible.

 

Update Your Video Conference Capabilities – Working remotely means relying on technology to get the job done. For lawyers working today, it’s essential to have video conferencing tools that are easy to use and provide reliable connectivity. Since client interviews and meetings need to be done remotely, it’s imperative that you use secure video conferencing platforms to keep meeting content confidential. An article in Bloomberg Law discusses the emergence of “telepresence rooms” to create a more authentic experience during video calls: “advanced audio-visual systems and large, mirror-like screens are used to make it appear that a client or colleague is in the same physical conference room, even if the person is at the other end of the globe.”

 

Use Cloud-Based Platforms

Since remote workers don’t have a centralized hub for information, Bloomberg Law asserts that “law firms are also shoring up their IT infrastructures now that a lawyer can’t simply count on their colleague down the hall to answer a question, or the filing cabinet with a particular document being nearby.”

In order to create accessible IT infrastructures, more law firms are embracing cloud-based document sharing tools. Cloud-based platforms allow documents to be securely uploaded, organized, and stored on an accessible online database. This way, lawyers have access to important files and information no matter where they are.

Flexible law firms are also implementing virtual mailbox services. Virtual mailbox services provide clients with instantaneous access to mail via a secure online platform. Mail is sent to a secure physical address and then promptly uploaded onto the database by a licensed handler. These services are an excellent option for law practices who don’t have a permanent location.

Cloud-based software also allows your legal team to optimize daily tasks. With easy-to-use communication platforms and simple scheduling and bookkeeping software, switching your systems to online services will save you time and money.

 

What are the Benefits of a Flexible Attorney Office?

Flexible attorney offices provide benefits for lawyers and clients alike.

Connect with a Wider Audience – Since lawyers who work in a flexible law office can conduct their work from anywhere, flexible law offices are able to serve a wider population and extend the reach of their business. This helps diversify caseloads, and increases client numbers.

Save Money – Attorneys who work in a flexible environment don’t need to be locked into a 12 months lease to practice the law. With money saved on rent, power, office supplies, and managerial staff, most law practices who switch to a remote model end up saving money in the long term.

Improve Retention – Remote work isn’t just a request anymore, it’s an expectation. Switching to a flexible schedule demonstrates your dedication to fostering a work environment that aligns with current demands.

 

Find Your Office Space at Amata Law Office Suites

Amata Law Office Suites provides lawyers and legal practitioners both in-person and virtual law office accommodations. With flexible pricing and unbeatable legal support services, Amata Law Office Suites has served the Chicago area by providing dedicated conference spaces, offices, and much more.

Now is the time to embrace the future of your legal practice. At Amata Law Office Suites, we’re here to help. 

Discover our offices for lawyers in Chicago.

Work-From-Home Lawyer? 5 Things You Need to Outpace Your Competition

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Since the start of the COVID-19 pandemic, it’s become more common for lawyers to implement a work-from-home model for their law practice. Working from home certainly comes with benefits like less commuting time, flexible work hours, and access to the best snacks in the fridge.

But adapting your law practice to a work-from-home model takes planning and hard work. While working from home can be a welcome transition for many legal professionals, it’s important to have the right tools in place to keep up with the competition and remain relevant in the legal sphere.

Here are our top 5 suggestions to help your law firm operate remotely and still achieve success.

 

#1 Create a Dedicated Work Space

If you don’t already have a home office, dedicating a space for work is a must. Creating a functional, private space helps spark productivity and delineates a boundary between home-life and work-life. Maintaining work / life boundaries is particularly important for your mental health, since legal work is often all-consuming and stressful. When you have a separate work-space it’s easier to set aside your professional concerns and rejoin your family when the day is over.

Although some folks have a tendency to overwork themselves at home, it’s also easy to procrastinate and do chores around the house, watch TV, or get distracted by family or roommates. Having a separate work space enables you to limit distractions and tackle the task at hand with greater efficiency.

 

#2 Focus on Marketing and Advertising

Now that your law office is operating remotely, it’s more essential than ever to advertise your skills to the public. Folks might expect you to have a brick-and-mortar location and may be confused by your lack of permanent address. To combat this confusion, it’s wise to broadcast your availability online.

You can market your law firm by:

–          Making sure your website is full of accurate and SEO keywords the target the types of things your clients are looking for. 

–          Investing in specific ways to point people to your website like advertising on spaces like law organization websites and Google Adwords or creating engaging content to post regularly on social media.

–          Starting an email newsletter with frequent updates and answers to general legal questions.

–          For more ideas on marketing strategy, just ask us! We have partners ready to help you take control of your digital marketing.

#3 Use Video Conferencing Software

Video conferences have become a ubiquitous form of communication. There’s no doubt that online meetings are the new normal and more folks are comfortable navigating online forums. To keep up with the ever-evolving legal world, it’s imperative to have the latest and fastest video conferencing software. 

Double check to make sure your camera is updated, your internet can handle video calls, and your microphone provides sufficient audio. Once you have your video-chat set-up complete, you’ll be ready to take meetings with clients and conduct interviews from the comfort of your home office.

 

#4 Embrace Tools for Collaboration

If you work in a firm with multiple partners, paralegals, and assistants, it’s crucial to maintain fluid communication even when working from home.

  •         Implement Online Chat Services – Instead of relying on text messages or phone calls to communicate, invest in online communication services to keep your team organized and on the same page. This way, you can keep communication all in one place and instantaneously send and receive messages through a secure platform.
  •         Use a Virtual Mailbox – You don’t want to receive business-related correspondence at your personal address. Aside from the obvious infringement on your privacy, receiving sensitive documents at a non-secure location may cause heightened anxiety. A virtual mailbox service provides you with all the benefits of a physical address without the need to pay any rent. Your mail will be directed to a real, secure address and instantly scanned and uploaded to an online server by a licensed courier. A virtual mailbox allows you to view your mail online instantaneously, and you don’t need to worry about packages being stolen or clients sending sensitive mail to a PO box or personal address.

#5 Employ Virtual Legal Assistance

Running a successful law firm entails completing a lot of paperwork and conducting extensive research. To help lessen the load, consider hiring a virtual legal assistant. Virtual assistants, or virtual paralegals, offer your firm the support you need on a case-by-case basis. Instead of hiring a full-time employee, virtual assistants offer all the expertise of highly trained legal professionals on a flexible scale. If you find yourself facing an increased caseload, or are going through a dry patch, you can scale-up or scale-down as needed to receive the support you need to tackle your workload.

 

Work with Amata Law Office Suites

At Amata Law Office Suites, we offer lawyers and legal professionals in-person and virtual law office opportunities. We are dedicated to fostering a community where lawyers can work, meet, and utilize legal resources to improve their business. 

Amata Law Office Suites provides the tools you need to upscale your virtual office, including virtual mailbox services, in-person conference spaces, and professional phone services. Come and join the Amata community today!

Discover our virtual offices in Chicago.

Ryan Kimler: How a Fractional CFO can Help a Firm’s Profitability | THE 1958 LAWYER Podcast

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Ryan Kimler is the Founder of Financial Clarity, working with solo and partner practice law firms, bringing them financial clarity to grow their law practice into successful and profitable businesses. In this episode, Ryan talks about how important financial discipline and accounting is for a law firm and how invaluable the guidance of a CFO or accountant can be on that regard.

They also discuss how the CFO and accountant is not only useful for keeping your law firm financially uncompromised, but also to project future earnings and actions that must be taken to ensure the firm’s profit for each of its members.

Key moments:

  • Why does a law firm need a CFO (0:50)
  • Getting past the frustration of the financial aspect of running a law firm (10:15)
  • Reducing the time spent trying to manage IOLTA accounts (19:03)
  • Tips for saving your law firm’s funds and increasing it’s income(21:04)

Follow “The 1958 Lawyer” on Apple Podcasts | Spotify | Google Podcasts | Sticher

MEMORABLE QUOTES

Ryan Kimler

“Accounting and finance doesn’t have to be the scary part of your firm… we want to be your guide, help you out, give you a clear direction and clean financials and bring clarity around the numbers of your law firm” – Ryan Kimler

ABOUT RYAN KIMLER

Ryan Kimler, Founder of Financial Clarity

CFO and Accounting for Law Firms

Ryan Kimler is an Accountant and CFO. His passion is in helping attorneys run their law firm by the numbers to increase profitability and cash flow. He helps attorneys spend more time working on their business instead of in their business so that lawyers can get back to crushing their business instead of the other way around.

Website: https://www.financialclarityllc.com/

LinkedIn: https://www.linkedin.com/in/ryankfinancialclarityllc/

Facebook: https://www.facebook.com/rkimler

Blog: https://financialclarityllc.blogspot.com/

YouTube: https://www.youtube.com/channel/UCiLyqCOvxvnnlr3_6BOGqww

Have comments, questions, or concerns? Contact us at [email protected]

“The 1958 Lawyer and his 1938 Dollar” still defines the business of law…
It’s time for a change.

If you’re a lawyer, you’re familiar with the ABA article “The 1958 Lawyer and his 1938 Dollar” which gives our podcast its title, and its inspiration. That article was the start of the billable hour for law firms…And the last major change to the business of law, 70+ years ago now. Well, it’s past time for another change.

This podcast is all about bucking the status quo of the business of law. Your host Ron Bockstahler runs Amata Law Office Suites, providing law firms an alternative to the traditional fixed-cost business model that places unwanted stress on attorneys to work long hours that often-times lead to burn out, broken relationships and in many cases substance abuse. Each week he’ll discuss alternatives to the 12 hours days, endless rotation of clerks and paralegals, and the expensive offices leased to impress clients who rarely show up in person anymore. He’ll interview successful lawyers who are doing law differently, and finding a work-life balance while still running a successful firm.

Do you want to find a better way to run your law firm? It’s time for the next big change in the business of law, and you’ll get it here on The 1958 Lawyer.

More episodes of The 1958 Lawyer podcast

Discover our legal support staff for lawyers in Chicago.

Estate Planning: When you have a child with Special Needs! | THE 1958 LAWYER Podcast

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Gregg Garofalo is the Founding Partner at Garofalo Law Group, he has been practicing law for 20 years with a strong focus on probate matters and estate planning. Gregg talks about when it’s right to do estate planning and what are some basic estate planning one should have outright.

Gregg also talks about estate planning if you have a special needs child, how you can maximize their benefit to give them the best care they can receive from both your estate and the government. Lastly, he talks about how estate planning must be revisited at least annually to review how it can be adjusted to changes in the family’s life, decisions, circumstances, or just life in general.

Key moments:

  • When is a good time to consider estate planning? (7:35)
  • A guardianship estate for your college kids(12:35)
  • Setting up a special needs trust (14:39)
  • Estate planning and COVID, Cryptocurrency, and other changes (22:35)

Follow “The 1958 Lawyer” on Apple Podcasts | Spotify | Google Podcasts | Sticher

MEMORABLE QUOTES

Greg Garafalo

“It’s never early to start planning – literally, we tell parents that when your kids turn 18, they should come in and do the basic estate plan…” – Gregg Garofalo

ABOUT GREGG GAROFALO

Gregg Garofalo, Founding Partner at Garofalo Law Group

Estate Planning

Gregg has been practicing law for the past 20 years with a strong focus on probate matters and estate planning. As a father of a daughter with special needs, he is passionate about educating families on how they can achieve their estate planning goals. As a result of Gregg’s vast experience, character and devotion to clients, the families he serves can rest assured that he will do everything he can to meet all of their expectations. Gregg is frequently appointed by the Court to serve as a Guardian ad litem in Guardianship matters. He is also routinely appointed by the Court as a Special Administrator in complex probate matters.

Gregg is an active member of the legal community, where he is serving or has served in several leadership roles within the Illinois Bar Association and the Chicago Bar Association. Gregg is a past Chair of the Chicago Bar Association’s Probate Practice Committee, where he served two years as Chair. Gregg is also a past Chair of the Illinois State Bar Association’s Young Lawyers Division, a member of the Trusts & Estates Council, and starting his third term as a member of the General Assembly after taking the mandatory one year off between terms.

Gregg serves as a member of the Illinois State Bar Association’s mentor program, and a speaker in the area of probate and trusts and estates.

In addition to his passion for law, Gregg works with professional and civic organizations. Gregg has worked with the Children’s Assistance Fund and the Illinois Bar Foundation chairing their annual holiday party, which has grossed over $150,000 during his ten-year involvement. Gregg is also a Past President of the Justinian Society of Lawyers, a past board member of the Italian American Political Coalition, and a board member of the Justinian Society Children’s Endowment Fund. In addition, Gregg volunteers for the Central Illinois Sheltie Rescue.

Website: www.glgfirm.com

Twitter: https://twitter.com/GreggGarofalo

LinkedIn: https://www.linkedin.com/in/gregg-garofalo/

Have comments, questions, or concerns? Contact us at [email protected]

“The 1958 Lawyer and his 1938 Dollar” still defines the business of law…
It’s time for a change.

If you’re a lawyer, you’re familiar with the ABA article “The 1958 Lawyer and his 1938 Dollar” which gives our podcast its title, and its inspiration. That article was the start of the billable hour for law firms…And the last major change to the business of law, 70+ years ago now. Well, it’s past time for another change.

This podcast is all about bucking the status quo of the business of law. Your host Ron Bockstahler runs Amata Law Office Suites, providing law firms an alternative to the traditional fixed-cost business model that places unwanted stress on attorneys to work long hours that often-times lead to burn out, broken relationships and in many cases substance abuse. Each week he’ll discuss alternatives to the 12 hours days, endless rotation of clerks and paralegals, and the expensive offices leased to impress clients who rarely show up in person anymore. He’ll interview successful lawyers who are doing law differently, and finding a work-life balance while still running a successful firm.

Do you want to find a better way to run your law firm? It’s time for the next big change in the business of law, and you’ll get it here on The 1958 Lawyer.

More episodes of The 1958 Lawyer podcast

Discover our networking events for Chicago lawyers.

Inevitable Evictions In Cook County

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It’s time to proceed with inevitable evictions – even though Cook County Circuit Court issued General Orders due to health concerns with spreading the coronavirus (COVID-19) and halted enforcements of any residential Eviction Orders.

A Brief History

All Cook County evictions were suspended as of March 14, 2020 due to the pandemic and resulting in Moratorium Orders and multiple statewide extensions issued by Illinois Governor J.B. Pritzker. However, on August 26, 2021, it was ruled by a majority of justices on the U.S. Supreme Court that the ordering of a nationwide moratorium on evictions was not within the authority of the Centers for Disease Control. The Illinois eviction moratorium expired on October 3, 2021 (see Illinois Executive Order 2021-23).

All defendants in residential eviction cases have had access to the Early Resolution Program (“ERP”) created in Cook County to provide free legal aid, mediation services with access to other resources including rental assistance. It is a program available to all residents of Cook County free of charge and it does not require a pending lawsuit for any resident to receive any free assistance.

Where We Are Now

Residential eviction cases are assigned to a master eviction court room and not re-assigned to a trial judge until after each defendant has been (i) served, (ii) given an opportunity to meet with an ERP case manager; and (iii) participate in scheduled appearances before the assigned Judge.

Currently, Cook County Emergency Rental Assistance is available to both renters or landlords experiencing financial hardships during the pandemic.

See if you qualify and apply online https://www.cookcountyil.gov/rent-help the deadline to apply is October 29, 2021. Tenants and landlords may apply for grant.

Discover our virtual offices in Chicago.