Once you've decided to start your own law firm, where to start can be particularly overwhelming. Sure, you know there are a ton of things you need to get done and put in place, but what needs to be first.
The answer to that question is probably going to depend on why you're opening your own law firm. Do you want to open your own law firm or are you doing it out of necessity? If you're flying solo because you want to, then you may have the luxury to take some time to get everything in order. If you're flying solo because you need to, you may need to move a little quicker to get some income coming in the door. That does not, however, mean you should skip over necessary parts of the process to ensure you are flying solo correctly.
What is the name of your firm going to be? Make sure it is in compliance with your local and state bar rules (for example, you may not be allowed to use certain words that would associate you with a state, county, city, etc. and you need to ensure that if you are an LLC or PLLC that you law firm name includes that designation).
Once you've determined your name, you need to register. Depending on your locality, you will need to register with multiple organizations/agencies. Register with your state corporation commission (remember to include a registered agent), your state bar and most likely with the locality in which you're office (remember, this might be your home at first) is located. These typically require some amount of filing fees to be completed but are necessary to do BEFORE you start practicing law.
The next big thing to get in order is your insurance, particularly malpractice insurance. You will want to have malpractice insurance in place before you begin practicing law so that you are not only in compliance with your ethical rules but so that you are protected legally. This can take a few days to complete the application and get approval. Talk with various insurance companies to find out their rates, if they will apply the malpractice insurance back to the date of application and whether they take installments for payments.
Once those tasks are completed and your licenses and insurance are in place, you're ready to take the next step in opening your law firm. If you are thinking about flying solo or are currently in the process and would like to discuss your experience, please contact me at (804) 447-0146 or clbaudean@baudeanlaw.com.
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