#2016-17/01 Law Firm Obligations in Sharing Fees and Ownership Control with Retired Lawyers

Ethics Committee Advisory Opinion #2016-17/01
ABSTRACT:

A retired lawyer may hold an ownership interest or control in the former lawyer’s firm only if the lawyer remains on “active” or “inactive” status in New Hampshire or is admitted to practice in another U.S. jurisdiction (i.e., does not become a “non-lawyer”). A retired lawyer may receive payment from funds originally earned as fees pursuant to a pension/retirement plan to which the fees were deposited as a contribution even if the lawyer has become a “non-lawyer”. A retired lawyer may receive fees from cases on which the lawyer worked while active only if (1) the lawyer does not become a “non-lawyer” and (2) the overall fee is reasonable and no larger than the fee earned by the firm if the retired lawyer never retired.

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