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Articles by Albert Goodwin
10 Best Law Books Lawyers Need To Read
Albert Goodwin, LawFuel contributor You’d think after 30 years in the legal trenches, I’d have seen it all. But just when I thought I had this profession figured out, along comes a lawyer citing non-existent cases from ChatGPT in federal court. Talk about a facepalm moment! It’s enough to make you want to curl up with a good book and forget the world exists. But, do not worry.
Another Big Law Pay Structure Move As A&O Shearman Bucks A Trend
Albert Goodwin, LawFuel Big Law editor Big law pay structure moves have been very much in the news of late, but now a move but A&O Shearman has bucked a recent trend by big law firms towards a salaried partner tier by having a full all-equity pay model. A&O Shearman has introduced a three-tier modified lockstep compensation system for its partners, moving towards an all-equity partnership structure.
The Two Big Law Firm Disrupters Altering The Legal Landscape
Albert Goodwin, LawFuel contributing editor Two of the most successful big law disrupters, Paul Weiss and Freshfields, have shown their flexibility with a healthy dose of ambitious growth to help reshape the landscape of the global elite legal market. By concentrating on complex, high-profile cases and major corporate and private equity transactions, Paul Weiss and Freshfields have positioned themselves as a go-to firm for bet-the-company matters.
What Are The Surprising Skills Driving Big Law Pay?
Law firms are witnessing an unprecedented surge in partner compensation, with top-performing lawyers in Big Law firms commanding salaries that exceed $20 million annually with suggestions that that figure will be surpassed to as much as $30 million. AbovetheLaw reported on Law.com’s report (this is what legal media do) when New York recruiter Scott Yaccarino reported on the constant big law pay rate growth. The gold standard ceiling of $20 million could well be heading north in a major way.
'Insane' London Law Salary Increases
As more law firms continue to ratchet up theirpay rates in the London legal market there is only going to be increased competition for legal talent in London with salaries reaching what the Financial Times called ‘insane’. The salary increases for newly qualified lawyers at US law firms like Quinn Emanuel (£180,000) and Gibson Dunn (£180,000) significantly outpace the recent raises at elite UK firms like Freshfields (£150,000) and Linklaters (£150,000).
What's Wrong With Coffee Badging?
Albert Goodwin, Contribing LawFuel editor As lawyers and others push for a return to the office, a trend towards ‘coffee badging’ – the practice of briefly showing up at the physical office, often just long enough to grab a coffee and interact with coworkers, before leaving to complete the rest of the workday remotely.
Who Is Karim Khan KC Who Ordered The Gaza War Arrests?
Albert Goodwin, LawFuel correspondent Karim A A Khan KC has appeared to have turned the tables on both the countries that proposed his membership to the Interntionational Criminal Court – the UK and Israel – with the showcase announcement for the issuing of arrest warrants for Benyamin Netanyahu, Israel’s prime minister, and Yoav Gallant, its defense minister, as wanted for crimes against humanity, alongside senior leaders of Hamas to provide the appropriate political ‘balance’.
UK Law Firms Risk Growth In Fueling Associate Pay War
UK law firms are risking future growth prospects with their mounting pay for associates, according to a report in BloombergLaw, quoting various law firm recruiters and others on the London pay battleground that we have been reporting on for some months. The pay rises in recent months have been significant: Linklaters increased pay by 20 percent, joining a similar increase from Freshfields.
The Legal Pay Wars Heat Up In The City As Quinn Emanuel Ups The Ante
In the latest salvo of the intensifying war for legal talent among top City firms, Quinn Emanuel has fired a shot across the bow, significantly boosting pay for its newly minted solicitors in London with a major legal pay increase. The powerhouse US-based litigation boutique, the storied ‘most feared’ litigation firm, is raising base salaries for newly qualified lawyers by 18 percent, setting the new benchmark at a eye-watering £180,000, according to a statement released by the firm on Friday.
Big Law Changes For Law Firm Pay And Lateral Hires
Albert Goodwin, LawFuel contributor Davis Polk chair, Neil Barr, sees the next 18 months as a key period that will reshape the legal industry landscape with increased lateral hiring and changes to law firm pay models, according to a report in Bloomberg Law. Lawfuel reported on the lateral recruitment move in law recently and the moves by Davis Polk to ramp up their lateral hiring reflects the increased aggression by firms to adopt the practices.
The US News Law School Rankings Revealed
The US News Law School rankings always play a key role in perceptions of law school excellence – or otherwise – and the latest US News law school rankings for 2023-2024 continue their tradition of both observation and controversy. The rankings were delayed through law schools’ refusing to provide US News with details regarding their ranking methodology.
Why Is BigLaw Moving Towards Black Box Pay?
Albert Goodwin, LawFuel contributor It sounds somewhat sinister, but the ‘black box’ pay system for partner remuneration model that is being used by some big law firms is gaining attention and momentum. In an age of transparency – supposedly – the ‘black box’ model requires deep cover and belies the ages-old remuneration method such as the lockstep system, so favored by biglaw firms for so long – but now losing favor to a large extent.
What They Earn And How It Is Changing
Albert Goodwin, law firm business writer The question of what the law firm partner salary level is intrigues some and bewilders others, with compensation figures often confidential. The issue is therefore more complex and partner earnings can fluctuate not only due to economic factors, but also the firm location, type of work and other factors. Partners practicing in major legal markets often earning more than those in smaller markets, obviously.
Which Law School Will Rank Highest In Forthcoming US News & World Report Law School Rankings?
Choosing the law schools’ rankings from the upcoming U.S. News & World Report can be a vexed issue, but the effort has been made by a number of experts, as reported in the ABA Journal with a reasonably predictable outcome for many – except for the Number 1 law school. While Yale and Stanford are expected to lead, there’s disagreement over which will claim the top spot. Yale tops one prediction, while Stanford leads in others.
Legal Writing In The Digital Age
Digital technologies are changing our world, transforming the art of legal writing. Law students and teachers in college are facing waves of new obstacles and opportunities. How has the digital era changed legal writing? Let’s delve deeper by analyzing the evolution, highlighting the dual impact of technology on legal writing, and sharing technical tips for improving these documents.
Pogust Goodhead Shifts The Paradigm With Million-Pound Salaries In New Law Pay Scale
In a groundbreaking move in the law pay scale, London law firm Pogust Goodhead is poised to reshape the compensation landscape for junior lawyers in the City, offering the potential for earnings of up to £2 million each over a three-year period. The unprecedented move reflects the escalating pay scale moves within the legal sector, positioning legal professionals on par with the lucrative pay structures prevalent in hedge funds and investment banks.
Who Is The Easily Overlooked New Zealand Lawyer Power Player In Cabinet?
Attorney General Judith Collins is a major power player in the Luxon Cabinet, holding two law degrees and with a legal career spanning four decades. We outlined Collins’ background in this article, demonstrating her chameleon-like ability to recreate her political and legal careers at different times and she has continued to present the face of an accomplished battler, who has also held presidencies in both the Auckland District and New Zealand Law Societies.
Law Firm Salary Surge Shakes Up London's Legal Scene
The law firm salary war continues, according to reports from London law firms about law salary increases. Paul Hastings is leading the pack with a 5 percent raise for their newbies, bumping their pay from £164,000 to £173,000. They tweaked their pay scale a bit, changing the exchange rate from £1 to $1.31, to £1 to $1.30. Meanwhile, Sidley Austin isn’t far behind. They’ve upped their salaries to £166,500, which is a 4.4 percent increase from the previous £159,500.
Mysteries Of Big Law Salary Trends
Albert Goodwin – Picture this: Alex, a recent law school graduate, steps into the towering headquarters of a renowned big law firm – (pretty well any on our Most Prestigious Law Firms List) – for her first job interview. Her mind buzzes with questions about the alluring world of big law salaries. She’s heard of the legendary Cravath Scale but wonders what other factors play into these lucrative figures.
The Lincoln Lawyer TV Series Cast
“The Lincoln Lawyer” TV series boasts a dynamic cast that brings the characters to life in one of the best lawyer TV series airing at present (making our ‘must watch’ best lawyer tv series list.) The series stars Manuel Garcia-Rulfo as Mickey Haller, a charming and savvy defense attorney who operates out of his Lincoln Town Car and combines a variety of Lincoln Lawyer cast members who help create the emotional and dramatic ‘pull’ of entertaining television.
Jeffrey Archer on prison and hating machines
Credit: Geoff Pugh/Shutterstock Credit: Geoff Pugh/Shutterstock In my experience Jeffrey Archer on prison and hating machines The novelist and former politician, 83, reveals his hatred of computers and why he couldn’t manage without his wife.
Does Executor Commission Come Out of the Gross Estate?
Executor commission comes out of the gross estate, not out of the net estate in New York. If you want to know how much an executor gets paid in NY, here are the commission percentages: 5% of the first $100,000 4% of the next $200,000 3% the next $700,000 2.5% of the next $4 Million […] The post Does Executor Commission Come Out of the Gross Estate? appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Can an Executor of a Will be a Beneficiary
The executor of a will is chosen by the testator at the time of the making of the will. Most people like to appoint a family member such as a surviving spouse or child to handle their estate after their death. Can an executor of a will be a beneficiary? Yes. It is not an […] The post Can an Executor of a Will be a Beneficiary appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
What to Do if a Trustee Refuses to Act
While the majority of trustees handle trust administration timely and adequately, there are times where a trustee refuses to act. There are steps that you can take to hurry the trustee along and protect your interest in a trust. You are entitled to a full accounting of the trust’s assets and to the timely distribution […] The post What to Do if a Trustee Refuses to Act appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Rights of Beneficiaries of a Trust
Beneficiaries of a trust have the right to: Receive current and truthful information about the trust Get the entire share of the trust that they are entitled to Receive a timely distribution of their share of the trust Compel the trustee to provide a formal judicial accounting Have the court remove a trustee who is […] The post Rights of Beneficiaries of a Trust appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Distributions of Trust Assets to Beneficiaries
A beneficiary is entitled to distributions of trust assets if the trust authorizes such distributions. Here are some examples of the different types of trust distribution arrangements for beneficiaries: An immediate distribution upon the death of the person who made the trust An immediate distribution upon reaching a certain age (for example, 18 or 25) A […] The post Distributions of Trust Assets to Beneficiaries appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Too Slow: Getting the Trustee to Distribute Your Share of the Trust
Jimmy found out that his favorite aunt, Linda, made him a beneficiary of her trust prior to her passing. Jimmy waited patiently for the trustee to do what has to be done and distribute his share of the trust. Reasoning that Linda would have wanted him to do so, Jimmy decided to splurge on an […] The post Too Slow: Getting the Trustee to Distribute Your Share of the Trust appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Irrevocable Trust New York
In New York, an irrevocable trust is a trust that cannot be revoked or modified without either a court order or written consent from all parties involved (all trustees, beneficiaries and people who made the trust). Is a New York Trust Revocable or Irrevocable by Default? A New York trust is irrevocable by default. NY EPTL […] The post Irrevocable Trust New York appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
What a Trustee Cannot Do
Acting a trustee is a big responsibility, and one needs to be careful not to do the wrong thing. Here is a summary of what a trustee cannot do: Steal from the trust Fail to follow the terms of the trust Mismanage trust assets including bank accounts, stock, bonds, retirement accounts, pensions Fail to take […] The post What a Trustee Cannot Do appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Can a Trustee Also be a Beneficiary
Yes, a trustee can also be a beneficiary, and they often are. But in some types of trusts, a trustee cannot be a beneficiary. Many trusts have the same people fulfilling multiple roles. As lawyers like to say, the same person can “wear many hats.” We often have the person who made the trust fulfill […] The post Can a Trustee Also be a Beneficiary appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
What Does an Executor Do?
A New York executor is named by a testator at the time a will is made and executed. What does an executor do? The executor is responsible for carrying out the wishes and intent of the testator (the person who made the will) and must do so by acting in good faith and by carrying […] The post What Does an Executor Do? appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Stealing from a Trust: What is the Penalty
There are significant penalties for stealing from a trust. The court can discharge the trustee and replace them with someone else, force them to return the money and take away their commissions. There can also be criminal a penalty, but most trust theft allegations do not escalate to criminal prosecution. Civil Penalties for Stealing from […] The post Stealing from a Trust: What is the Penalty appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Cousin Stealing from an Estate: What You Can Do About It
When your cousin is stealing from an estate, it’s usually because the temptation is simply too hard to resist. It comes down to greed. People can come up with all sorts of elaborate excuses for the theft, and then use a number of schemes to cover up what they did. When cousins have a strained […] The post Cousin Stealing from an Estate: What You Can Do About It appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Cousin Abusing Power of Attorney
When your cousin abuses a power of attorney, that can mean serious financial consequences for your loved one’s well being and diminishes your future inheritance. A power of attorney gives your cousin the authority to make legal and financial decisions for your loved ones regarding such matters as bank accounts, the purchase and sale of […] The post Cousin Abusing Power of Attorney appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Can a Partition Action Be Stopped? How to Stop a Partition
When property is left as an inheritance to more than one person, or two people own a property together, such as when they were partners in the real estate or were domestic partners, we get into situations where multiple people own the same property and one of them does not wish to own the property […] The post Can a Partition Action Be Stopped? How to Stop a Partition appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Aunt Inheritance Laws: An Overview
Aunt inheritance laws endow you with certain rights to your aunt’s inheritance. However, your rights are lower priority than those of your aunt’s more immediate family members. As set forth in the laws of the state of New York, you have no rights to your aunt’s inheritance if your aunt had a living spouse, descendants […] The post Aunt Inheritance Laws: An Overview appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
What is an Estate Probate Attorney
An estate probate attorney helps administrators and executors close-out and settle estates. An estate probate attorney’s knowledge of the court system allows them to close and settle matters in the probate court without unneeded expenses and delays. Here are some of the things that an estate probate attorney does: Helps the executor or administrator fill […] The post What is an Estate Probate Attorney appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
What is a Probate Attorney
A probate attorney helps administrators and executors close-out and settle estates. A probate attorney’s knowledge of the court system allows them to close and settle matters in the probate court without unneeded expenses and delays. Here are some of the things that a probate attorney does: Helps the executor or administrator fill out the petition […] The post What is a Probate Attorney appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Can a Trustee Remove a Beneficiary From a Trust
A trustee cannot remove a beneficiary from the trust, with some rare exceptions, which we are going to cover here. The terms of a trust are governed by the trust document. A typical trust document spans tens of pages. If a trust does not expressly give the trustee the power to remove a beneficiary, then […] The post Can a Trustee Remove a Beneficiary From a Trust appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
What is a Probate Lawyer
A probate lawyer helps administrators and executors close-out and settle estates. A probate lawyer’s knowledge of the court system allows them to close and settle matters in the probate court without unneeded expenses and delays. Here are some of the things that a probate lawyer does: A probate lawyer helps the executor or administrator fill […] The post What is a Probate Lawyer appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
The Penalties for Looting an Estate
There are significant penalties for looting an estate. The court can discharge the executor and replace them with someone else, force them to return the money and take away their commissions. There can also be criminal a penalty, but most estate theft allegations do not escalate to criminal prosecution. Civil Penalties for Looting an Estate […] The post The Penalties for Looting an Estate appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Can One Co-Executor Act Independently?
When a will has multiple executors, they are called co-executors. The question is, do they have to work together or can each co-executor act independently? It is essential to understand the rights and responsibilities you possess when you are named a co-executor on a will in New York City. This article will cover common co-executor […] The post Can One Co-Executor Act Independently? appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Certified Letter of Testamentary
A certified letter of testamentary is an official name for a document issued by the Surrogate’s Court or Probate Court, which permits a person to act on behalf of an estate of a person who died with a will. A person who is nominated by a will to be an executor of an estate does […] The post Certified Letter of Testamentary appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Is a Will Invalid When a Relative or Beneficiary is a Witness?
When a will has a relative or a beneficiary as a witness, is the will valid? Kind of. The will is valid for everyone else, but the beneficiary-witness does not benefit from any increase in his or her share over what the beneficiary-witness would have gotten if not for the will. In other words, the […] The post Is a Will Invalid When a Relative or Beneficiary is a Witness? appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
How To Get a Copy of a Trust Document
You can get a copy of a trust document by asking the trustee for a copy. If they refuse to provide it, you can compel them to provide a copy through a Surrogate’s Court proceeding to compel a copy of the trust. Unlike wills that are admitted to probate, trusts are not part of public […] The post How To Get a Copy of a Trust Document appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Executor Not Contacting Beneficiaries
When an executor is not contacting beneficiaries, the beneficiaries may lose their patience and bring a proceeding to compel the executor to file a judicial accounting. A good executor will avoid this costly step. Accordingly, this is the kind of information that the executor should provide to the beneficiaries: What is the executor planning to […] The post Executor Not Contacting Beneficiaries appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Can The Executor of a Will Spend the Estate’s Money Any Way He Wants?
Can the executor spend the money any way he wants? In most cases, no. Estate money does not belong to the executor – he is just managing it. By giving it away, he’s taking it away from the beneficiaries of the estate. What do we call it when a manager steals money he is managing? […] The post Can The Executor of a Will Spend the Estate’s Money Any Way He Wants? appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
How to Check if Someone Has a Will
One of the first things that you need to do when someone died is to check if that person had a will and find it, so that probate proceedings can begin. How do you check for a will? In many cases, the testator tells the executor during his or her life where it is that […] The post How to Check if Someone Has a Will appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
Can One Heir Sell Property
For those wondering “can one heir sell property of an estate,” the short answer is Yes, if they are the executor, unless there are restrictions in his Letters Testamentary which require court approval before selling the property or there is a restriction that limits the administration of the estate to a certain amount. The sale […] The post Can One Heir Sell Property appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
How Can Someone Refuse an Inheritance
A beneficiary of a New York, NY estate can refuse their inheritance and renounce all of a portion of their inheritance left to them after their loved one has passed away. However, it is possible that being left an inheritance will disqualify a person from being eligible for government assistance such as Medicaid, even if […] The post How Can Someone Refuse an Inheritance appeared first on New York City Estate Lawyer Albert Goodwin, Esq..
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