by Christopher Hagenow | Sep 29, 2017 | Additional Category, Blog, Business Law
25 Lessons in 25 Years- Part V We have reached the “Final Five”. Again, these have been in no particular order other than number 1, which is the most important lesson that I have learned in my 25 years of law practice. As I complete this list I realize that there is some overlap in certain of these lessons and some of them have more applicability on a day to day basis than others. Nevertheless, it has been a worthwhile exercise to think through my career and those lessons that have had the greatest impact on me. This May Surprise A Lot of You. Lawyers often have the reputation for being “slick”, sneaky, untrustworthy, manipulative, etc. People love “lawyer jokes.” Some lawyers are absolutely deserving of these labels, but the part that will surprise you is that in my experience, the vast majority of lawyers are the most ethical people I know. There are many things that lawyers are ethically prohibited from doing due to ethical rules and rules of professional conduct that are not applicable to other professions or businesses. Those lawyers who do not abide by those rules are the ones who make the headlines, but again in my experience most lawyers are ethical, trustworthy, respectful, and of strong moral character, and society as a whole might benefit from having to abide by the same ethical code that lawyers are bound to uphold. Just Because You Can Does Not Mean You Should. Whether it is firing off that angry e-mail (or even worse, a text), filing a particular motion or taking some other action that you...
by Christopher Hagenow | Sep 22, 2017 | Additional Category, Blog, Business Law
25 Lessons in 25 Years- Part IV As we march forward towards number 1, we continue to get great feedback and comments on the first three installments in this series. I was recently approached by a colleague who offered this bit of wisdom based upon his own experience (which is a few more years than mine): “The older I get, the easier it is to say ‘I don’t know’”. I love that, and it is very true. I wish I had thought of it! Remember that these are not in any particular order, except for number 1, which will be revealed in next week’s post. Here are lessons 6-10 from 25 years of practice: Shades of Gray. Some people like to talk in terms of things being black and white. In my experience there are no such things, and everything is simply some shade of gray. Almost always the “truth” will lie somewhere between the two extremes: sometimes closer to one than the other, but never lining up exactly on all points on one of those extremes. As a recently retired bankruptcy judge loved to remind people in his court, no matter how thin you make a pancake, it always has two sides. That is very true in all aspects of the law, and it is good to keep in mind and to remind clients of as we work towards resolving whatever the particular issue may be. Stop. Just Stop. There is an old saying in the law that “About half the practice of a decent lawyer consists in telling would-be clients they are damned fools...
by Christopher Hagenow | Sep 15, 2017 | Additional Category, Blog, Business Law
25 Lessons in 25 Years- Part III We continue to get great responses and comments to Parts I and II of my 25 Lessons in 25 Years. It is clear that many of the lessons that I have learned through the practice of law are universal across life in many different occupations. I am pleased to see people actually read these and hopefully they have some meaning to some of you. With that being said, here are the next 5 of my 25 Lessons in 25 Years: I Don’t Care . . . . . . . what the truth is. Whatever the truth is, no matter how “bad” it is, so long as I know what it is, I can handle that in order to get the best possible result under the circumstances. What renders me helpless and unable to assist is when I am told things that are not true, or that are not the “whole truth.” I have been in trial when the truth, or at least some new version of the “facts”, finally comes out. At that point I may as well have gone and played golf, because my credibility, and my client’s credibility, was completely lost. If I had known the truth at the beginning, the case would have been handled far differently. This lesson leads to the next, which is The Truth Will Come Out. For whatever reason, in 99% of all cases eventually the truth will come out. In my experience trying to dance around or ignore certain facts and circumstances through “sharp practice” does not work, and eventually the...
by Christopher Hagenow | Sep 8, 2017 | Additional Category, Blog, Business Law
25 Lessons in 25 Years- Part II We received some great feedback to Part I of my 25 Lessons in 25 Years post. As mentioned in that post, 2017 marks my 25th anniversary as a lawyer. I have decided to do a series of posts dedicated to certain lessons I have learned and how I have grown as a lawyer during those 25 years. Some of these lessons are universal across life in many different occupations; other are more specific to the practice of law; and some are even more specific to the practice of law in Indianapolis/Central Indiana. Like everything else in life, some of these will be more applicable to you than others. So, without further delay, and in no particular order except for number 1, here is part 2 of the 25 Lessons in 25 Years. Discovery. “Discovery” is the name given to the process for the months and sometimes years that that lawyers spend asking questions of the opposing side about the facts of the particular case. It is often very mundane, time consuming, boring and, unfortunately, very expensive. With all of that being said, it is also critically important, and I did not understand how important it truly was until my first “solo” jury trial when, shortly after opening statements, I realized the number of questions to which I did not have answers that I really wished that I did. Therefore, when you wonder why lawyers spend so much time on discovery, it is so that they can be as prepared as possible to try your case in court to try to get...
by Christopher Hagenow | Sep 5, 2017 | Additional Category, Blog, Business Law
25 Lessons in 25 Years – Part I 2017 marks my 25th anniversary as a lawyer. I have decided to do a series of posts dedicated to certain lessons I have learned and how I have grown as a lawyer during those 25 years. Some of these lessons are universal across life in many different occupations; other are more specific to the practice of law; and some are even more specific to the practice of law in Indianapolis/Central Indiana. Like everything else in life, some of these will be more applicable to you than others. So, without further delay, and in no particular order except for number 1, here is part 1 of the 25 Lessons in 25 Years. Practicing Law is Stressful. Lawyers often are hired by clients who have a problem and want the lawyer to fix it. Of course, the lawyer had nothing to do with creating the problem, but now the client wants it fixed by the lawyer. For type “A” perfectionists, which many lawyers are, this creates stress because many of these problems never will be fixed. I personally tend to internalize these problems and make them my own, and while experience has taught me that I cannot do that, that is something I always struggle with because I want to make everything right for the client. There is no Such Thing as Perfect Case. I have won cases that I should have lost, and lost cases I should have won. This is why cases settle. When you go to court, anything can happen, and often does. The Strategy That Almost Never Works. “Just...
by Natalie Carson | Jun 1, 2016 | Blog, Business Law
Key Man Life Insurance and Corporate Knowledge: A Lesson for All to Remember What a corporation’s officers and shareholders know concerning the business of the corporation, the corporation knows. This knowledge that is imputed to a corporation remains with the corporation throughout its life, and a recent case involving “key man life insurance” highlights this important lesson for all business owners that a corporation is not allowed to suffer from “amnesia” and to otherwise ignore information that its officers have been told or that is in the corporate files. Key man life insurance is an important tool for all small business owners, as it allows the company or the other shareholders to purchase the shares from a family of another shareholder who may have deceased. The proceeds of that life insurance policy are used to purchase those shares, thereby allowing continuity of ownership but also providing some value for those shares to the decedent’s estate. In a recent case decided by the 7th Circuit, a corporation had purchased key man life insurance, insuring the life of the majority shareholder. The beneficiary originally was the other shareholder, but that was then changed so that the beneficiary was the corporation itself. There was evidence that the intent did not change, i.e., it was the intent to have the shares of the “key man” purchased with the proceeds of the life insurance. The key man eventually retired, and sold his shares to a new owner, who became the president of the corporation. The insurance policy remained in place. When the retired “key man” died, the insurance company paid the $1,000,000 of proceeds...
