Business of Law

Corporate law firm forms subsidiary law firm for estate planning

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A St Louis-based corporate law firm is forming a wholly owned subsidiary law firm to do estate planning work.

Lewis Rice plans to open the new law firm, to be called TuckerAllen, in September, the Am Law Daily (sub. req.) and the St. Louis Post-Dispatch report.

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.

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