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AUGUST 2023
Challenges Along the Business Ascent The Uphill Battle of Law Firm Growth
No one goes into business expecting it to be easy, but few entrepreneurs genuinely understand what they’re getting into. It’s fair to say that I didn’t. When I learned August 1st was National Mountain Climbing Day, I thought it was an apt metaphor for being a business owner. Running a law firm is an uphill battle, and 2023 has been challenging at times for my business. Two of our family law attorneys moved on to different law firms this year, one in February and one in May. Our firm hasn’t experienced much turnover in the “attorney” department, and while each lawyer left on great terms and provided substantial notice, the transition of files is always difficult with the clients. Our clients hire our law firm, not the individual attorneys, but I pride myself on the fact that the lawyers who work in our practice are outstanding inside the courtroom and with client interactions. I know people change jobs every day, particularly family law attorneys, and these lawyers’ decisions were not a rejection of our firm but more about them. That said, hiring the type of talent our clients deserve to replace lawyers is incredibly challenging, and unfortunately, despite my best efforts and significant due diligence, I made a poor hire to replace one of the departing lawyers and another poor hire with the addition of a third probate and estate planning lawyer our team needed, which resulted in the termination of both lawyers — which is never fun because it means that I did a poor job of hiring. Turnover can be expensive and emotionally taxing, but it’s a challenge every business owner faces at some point in time, particularly in growth phases. Thankfully, over the years, I’ve gotten better at the old adage “Slow to hire, quick to fire.” This turnover was a minor setback and, truthfully, just the most recent challenge our law firm faced going all the way back to 2021. I remember talking to my fractional CEO, Brian Robinson, back in 2021, and while I don’t remember the exact topic of conversation, I made some whiny comment along the lines of “Why is everything always so hard, and when will things stop happening so I can catch a break?” Brian just laughed and said, “Curt, here’s the truth: It never stops!”
Several years ago, these setbacks bothered me because I know how hard I work to make our law firm a “destination firm” — the type of place our lawyers and non-lawyer staff want to stay their entire careers. From investing in personal and professional development for the team to hosting out-of-office team-building activities and ongoing monthly contests, I put a great deal of emphasis on culture. Every defection hurts, and I took things very personally. At times, I’d become so stressed that I couldn’t sleep. But now, I’m much better equipped to deal with the daily challenges associated with running a business. I’ve learned to embrace
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the challenges, slow down, enjoy the journey, and focus on the amazing team we assembled over the past two years that made Douglass & Runger the 113th fastest-growing law firm in the U.S. based on revenue growth the past three years. It took me a long time to write this article, and I debated putting the content out there for our readers, but I vowed to be authentic when I started this newsletter, and giving people a “look behind the curtain” is important to me. Turnover is part of doing business, and recruitment and retention are learning processes. I use these experiences to determine what I can do better in the future and how we can mitigate the fallout from natural turnover that happens at every law firm. Hiring the wrong attorneys was on me, and I regret it. It hurt me, my staff, and the people I had to let go. It’s also never fun telling a client their attorney is no longer with the firm, even when it’s in their best interest. But a part of taking responsibility for that failure is determining how it happened so I can avoid repeating it.
For example, besides working hard to identify a good fit for the team during the interview process, I’ve become much more involved in onboarding. Culture is crucial to any business, and it only takes two or three bad eggs to rot it from the inside. I took our newest attorney out to lunch three days in a row during his first week with various teams at the firm (legal production, sales and marketing, and operations/ management) so he could understand in depth how all the pieces fit together, learn who we are, and recognize what’s expected of him. It’s going incredibly well, and this lesson is a positive consequence of an otherwise challenging experience. I’d be lying if I said rapid growth and unexpected changes didn’t feel overwhelming sometimes. But I’ve learned to take it one step at a time and realize that at the end of the day, everything will work out. I expect to continue climbing this metaphorical mountain as a business owner for many years, so the best thing I can do is pace myself.
Why Estate Plan Disputes Head to Court
LEGAL GROUNDS FOR CONTESTING A WILL
A death in the family is always emotional, but financial considerations can make matters worse. Tension often manifests around a loved one’s Will, with one or more family members disagreeing with its contents. While there are many reasons to morally object to an estate plan, anyone in this situation should know the valid legal reasons are few. IMPROPER WILL PREPARATION Simply writing a Will does not make it legally binding. A Will that does not meet the legal requirements — such as being signed by the Testator (the person creating the Will) in front of two witnesses who are not related to the Testator and not beneficiaries in the Will — is a recipe for disaster. In some cases, multiple Wills exist, which frequently causes disputes. Other times, a Codicil (addendum) is incorrectly executed
to track changes, or the Will contains mistakes or ambiguous terms. These problems point to the importance of always estate planning with a professional. LACK OF MENTAL CAPACITY A Testator must be of sound mind to prepare a legally binding Will. A person who cannot understand the estate planning process or the purpose and effects of a Will lacks the mental capacity to execute the document. These challenges are most common when there is reason to believe the deceased was suffering from dementia at the time they created the Will. In these cases, a Court must decide whether the Testator could comprehend the nature of their actions when they signed the Will. UNDUE INFLUENCE A valid estate plan cannot be created under duress. The Testator must freely decide how to distribute their assets, regardless of the advice they receive from friends and family. Undue influence occurs when a party who has a close and “confidential relationship” with the Testator manipulates a Testator’s vulnerability to create favorable provisions or outcomes for themselves in the Will. Often, the Testator relied on the individual guilty of undue influence for essentials like housing or medical care. In other cases, someone might suspect outright fraud, such as forgery. Alternatively, the Testator may have signed the document believing it was something else. Douglass & Runger can help you prepare an estate plan that is less likely to face future challenges, helping ensure your wishes are carried out. We also help people contest Wills we believe are invalid, improper, or fraudulent. If you have reason to contest a loved one’s Will, call us at (901) 388-5805 for more information about your options.
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Who Will Take Care of Your Kids? Inside One of the Most Crucial Aspects of Your Estate Plan Who will care for your children if something happens to you? It’s a question that can keep parents awake at night. Protecting your children in case you and their other parent cannot care for them is one of the most compelling reasons to create an estate plan at an early age. These documents allow you to designate a Guardian to raise your minor children in your unlikely absence. Still, you can’t bequeath or give a minor child to someone in a Will the same way you would a piece of furniture. First, it’s crucial to note that if one parent dies, the child’s surviving parent typically becomes the child’s sole natural Guardian with few exceptions. If both parents are deceased or incapacitated, Courts may examine the deceased parents’ estate planning documents to ascertain their intent with respect to nomination of a Guardian while deciding Guardianship issues.
Raspberry and Fig Oat Bars
Inspired by Delicious.com.au
Raspberries and figs make these oat bars a scrumptious dessert or a delectable morning treat.
INGREDIENTS • 1 1/2 cups all- purpose flour • 1/4 cup cornstarch • 1 tsp baking powder • 1 cup and 1 tbsp rolled oats, divided • 2 sticks chilled unsalted butter, diced • 2/3 cup caster sugar (superfine granulated)
• 2 eggs, beaten • 1 tsp vanilla extract • 1/4 cup raspberry jam • 1 1/3 cups raspberries • 3 figs, quartered • 1 tbsp turbinado or brown sugar
Estate planning documents carry great weight but are not necessarily the final word on Guardianship. Ultimately, the Court will appoint a Guardian based on a child’s best interests. That’s why carefully choosing your child’s Guardian in estate planning documents is critical. An ill-considered appointment or selection of a Guardian in your estate planning documents could result in an outcome you’d never want for your child.
DIRECTIONS 1. Preheat oven to 350 F. Grease and line an 8x12-inch pan with parchment paper. 2. In a medium bowl, combine flour, cornstarch, baking powder, and 1 cup oats. Using your fingertips, rub in butter until crumbly. Stir in caster sugar, then add egg and vanilla. Stir until clumpy. 3. In the pan, smooth three-quarters of the mixture evenly. Spread jam over the top, then add fruit. Mix leftover oat mixture with turbinado sugar and remaining oats, then sprinkle over the fruit. 4. Bake for 40–45 minutes until golden. Cool in pan for 10 minutes, then slice and serve. INSPIRATION “No matter what
Your child’s Guardian will control many crucial aspects of their life — what they eat, where they attend school, what medical care they receive, how they are disciplined, and more. Consider your selected Guardian’s temperament, decision-making, and parenting style before designating them as your child’s guardian in your estate planning documents. Your child’s future matters more than family members’ hurt feelings. It’s also wise to name an alternate Guardian in your estate plan if your first choice is unwilling or unable to take on the role. Never name a Guardian without speaking to the person you want to elect. While you might think your brother is the perfect choice, he must be willing to take on the role. A person named in an estate plan declining to serve as Guardian is one of the top reasons a judge will place children with someone else. Other scenarios include a named Guardian who struggles with substance use, is incarcerated, or has a history of child abuse. A court will not place a child in a home they know to be unsafe, regardless of what your documents state. While most parents will live to see their children reach adulthood, they should protect their families by preparing for the worst. The estate planning team at Douglass & Runger can help ensure your wishes are upheld if the unthinkable happens. Call us today at (901) 388-5805 to learn more.
people tell you, words and ideas can change the world.” —Robin Williams
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2820 Summer Oaks Drive Bartlett, TN 38134 901-388-5805 www.DouglassRunger.com
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Inside This Issue
1 The Uphill Climb of Business Growth 2 The Legal Reasons to Contest an Estate Plan 3 Do Your Children Have a Designated Guardian?
Raspberry and Fig Oat Bars
4 Ditch the Textbook — Go Travel Instead!
A Textbook Won’t Do You Justice! WHY TRAVELING IS THE BEST FORM OF EDUCATION
As you mark your calendars with upcoming holidays, get-togethers, events, and school activities, there may be one you’re missing: American Adventures Month. This monthlong event encourages you to be adventurous and travel so you can better understand the world around you. While you can research online or open a book to learn more about any part of the world, nothing beats visiting these places yourself. Here are three reasons why traveling is the best form of education. YOU LEARN MORE ABOUT PEOPLE. When you travel to other states or internationally, you can learn a lot about the culture of these places by speaking to residents. They can suggest historical places for you to visit that teach you about their heritage, lifestyle, and what life was
like for their ancestors. You will think about things you’ve never considered before and have a deeper appreciation for the views of others. YOU GAIN A DEEPER APPRECIATION FOR HISTORY. When you walk through important historical locations, you understand the past better because you’re living it! You’re walking the same roads or staring at the same landmarks that civilizations from centuries ago did. When you immerse yourself in the history of a place, you can better understand why its origins are meaningful. YOU LEAVE YOUR COMFORT ZONE. Traveling somewhere new can be nerve- wracking! You won’t know the best mode of transportation or know anyone there — you may not even speak any native languages! By leaving what makes you comfortable, you’ll learn to
depend on yourself and embrace change and uncertainty. These skills can and will help you in all aspects of life. So, travel this month and learn something new! We understand you can’t drop everything just to hop on a plane to another country, so try venturing to a nearby city you’ve never visited and learning about its history.
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