Excerpt from Rick Otton Podcast 77 “It’s Q and A Time” posted October 2 2013 at 16 mins 57 secs.
This excerpt relates to this post about pre-contractual legal advice.
Otton replies to a question “from the public” about finding a solicitor who can help with the strategies.
“Well, I understand that, I mean let’s face it, a lot of change has happened to the national credit code in 2010 which a lot of people don’t know, and a lot of these strategies, if ….think about this from the solicitor’s point of view. If he goes to university – and solicitors tell me this, they go to university for 4-5 years, you learn 20 different types of law, and all the stuff that we do was probably taught for 20 minutes on lecture 31 in the first year on a Friday afternoon when everyone left early and went to the boozer, right?
So, to say to a lawyer who doesn’t do these strategies, can you do them, he’s probably thinking he’s got 20 hours of research to get up to speed on it and he can’t charge his client $21,000,….. because the lawyers only charge 500 or 1,000 bucks for these things so you’re going to find you’ve got family law lawyers, commercial property lawyers, you’ve got civil engineering lawyers, so you’ve just got to be moving in the pool of solicitors who do this all day long, you know?
And so I sort of understand he might go ‘no, it’s not what I do’ [Chislett says “and it’s just because they don’t understand it”] Otton continues “No, well that’s right”.
There are a lot of solicitors who do it, it’s a mushrooming industry….a lot of the solicitors come along to the 3 day training event, and that’s where people get connected. And here’s what’s really interesting….and the solicitors get up on stage and they go – 4 lawyers right? and they role play this. Three lawyers go “it’s illegal” “it’s illegal” “it’s illegal” and the last guy goes “yeah, we do that all day long”.