Bring up the Bottom LineBring up the Bottom Line
Here's the bad news: Trusts and estates lawyers, like law firms in general, have been hit by the economic downturn that has battered most of corporate America in the last several years. In fact, 85.6 percent of 619 trusts and estates lawyers surveyed in the first quarter of 2003 say they are coping with downward pressure on their income. (See Feeling Squeezed, page 58). But the future need not be
Russ Alan Prince, president, Prince & Associates, Shelton, Conn.
Here's the bad news: Trusts and estates lawyers, like law firms in general, have been hit by the economic downturn that has battered most of corporate America in the last several years. In fact, 85.6 percent of 619 trusts and estates lawyers surveyed in the first quarter of 2003 say they are coping with downward pressure on their income. (See “Feeling Squeezed,” page 58).
But the future need not be grim. Law firms — trusts and estates lawyers in particular — have plenty of room to grow. Firms can greatly increase revenue by taking simple steps, such as encouraging their partners outside the T&E department to make more referrals. Another potential revenue stream: ancillary bus...
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