Corporate law firm forms subsidiary law firm for estate planning
A St Louis-based corporate law firm is forming a wholly owned subsidiary law firm to do estate planning work.
TuckerAllen will have four offices in the St. Louis area staffed by 10 lawyers hired from outside Lewis Rice. For $550, a single person can obtain a package from TuckerAllen that includes wills, beneficiary deeds, medical directives and powers of attorney, according to the Post-Dispatch. A couple would pay $650. The price for a package that includes revocable trusts will be priced at up to $1,250.
The Am Law Daily spoke with law firm consultants who said they couldn’t think of any other instances in which law firm created a wholly owned law firm subsidiary, though they have heard of subsidiaries that aren’t engaged in law practice.