URM 2013-2014 Cycle Thread Forum

[mandyjay11]

Okay, call me crazy, but as someone who has lived in NYC, that guy's expenses don't seem super extravagant to me. While $2400/month for rent is on the high side in most cities, it is not on the high side in NYC. I'd be surprised if he could afford a 1BR place in most Manhattan neighborhoods for that amount of money. His transportation costs seem a bit high, but his food expenses don't. NYC is just expensive, especially if you have to pay more than half of your salary after taxes in alimony. Morals of the story: corporate law is less lucrative than 0Ls are led to believe and be careful whom you marry.

That 10K in spousal support is what's killing his budget. Man, divorce attorneys for the wives bleed these men dry.

[AAJD2B]

Okay, call me crazy, but as someone who has lived in NYC, that guy's expenses don't seem super extravagant to me. While $2400/month for rent is on the high side in most cities, it is not on the high side in NYC. I'd be surprised if he could afford a 1BR place in most Manhattan neighborhoods for that amount of money. His transportation costs seem a bit high, but his food expenses don't. NYC is just expensive, especially if you have to pay more than half of your salary after taxes in alimony. Morals of the story: corporate law is less lucrative than 0Ls are led to believe and be careful whom you marry.

That 10K in spousal support is what's killing his budget. Man, divorce attorneys for the wives bleed these men dry.

I am thinking she had proof and it slayed him or she is a housewife.

[okaygo]

I've had my SEO interview!

[AAJD2B]

I've had my SEO interview!

Sweet!!! How'd it go???

[mandyjay11]

I've had my SEO interview!

Sweet!!! How'd it go???

[AAJD2B]

OMG you guys, has SEO's website been hacked?

http://www.seocareer.org

[KingJamesLBJ]

OMG you guys, has SEO's website been hacked?

http://www.seocareer.org

wow. Hope everyones personal info is safe

[okaygo]

OMG you guys, has SEO's website been hacked?

http://www.seocareer.org

OMGGGG

[okaygo]

I've had my SEO interview!

Sweet!!! How'd it go???

It went better than I thought it would! If you all want more details PM me. I'm slightly paranoid.

[mandyjay11]

OMG you guys, has SEO's website been hacked?

http://www.seocareer.org

OMGGGG

What the heck?!!? Is that real???

[applelover]

OMG you guys, has SEO's website been hacked?

http://www.seocareer.org

OMGGGG

What the heck?!!? Is that real???

probably a bitter person who was rejected. He/she only changed the homepage.


--LinkRemoved-- still works just fine.

[MoMettaMonk]

.

[Futuregohan14]

For those of us interested in a career in corporate law, below is an interesting read. The legal market is truly no longer the same:

http://www.nytimes.com/2014/01/25/busin ... krupt.html

wow
much financial
many ruin
such fall

Srs note for a second: the legal market has changed, but there's nothing apocalyptic or surprising coming here. The market is just correcting itself. We had too many lawyers, and now law school enrollments are dropping. Firms have too much capacity, so they're shrinking and adjusting too. The service partner phenomenon is just proof of that. They're the result of pre-2009 boom times and peak enrollments in law school. The extra capacity that was useful then is redundant now, so naturally their existence is more precarious.

Service partners don't bring value the way they did in better times and now can't coast the way they did then either. They have 3 options:

-Hustle more to bring in more work and value (difficult since service partners sometimes just don't have the personal skills for this)
-Jump the BigLaw ship and go in-house
-Jump the BigLaw ship and head to a smaller firm and/or smaller market to become a larger fish in a smaller pond.

These are natural adjustments the legal market has to make.

That's not the biggest takeaway from this article tho:

The bulk of his potential liabilities stem from claims related to the collapse of Dewey & LeBoeuf, which filed for bankruptcy protection in 2012. Even stripping those away, his financial circumstances seem dire. Legal fees from a divorce depleted his savings and resulted in a settlement under which he pays his former wife a steep $10,517 a month in alimony and support for their 11-year-old son.

How far does $375,000 a year go in New York City? Strip out estimated income taxes ($7,500 a month), domestic support ($10,517), insurance ($2,311), a mandatory contribution to his retirement plan ($5,900), and routine expenses for rent ($2,460 a month) transportation ($550) and food ($650) and Mr. Owens estimated that he was running a small monthly deficit of $52, according to his bankruptcy petition. He has gone back to court to get some relief from his divorce settlement, so far without any success.

The moral of this story is very clear (for men, at least)...


DON'T GET MARRIED
DON'T GET MARRIED
DON'T GET MARRIED
DON'T GET MARRIED

That is all.

[applelover]

Maybe the bitter person with 2.96 from the other thread recently.

SEO staff: Sorry, you're not qualified enough.
Bitter Person: B**** I'll show you my qualifications.

[mandyjay11]

Maybe the bitter person with 2.96 from the other thread recently.

haha ! I had re-read her post a couple of times because I just couldnt understand the point. They say 3.0, it's 3.0- what else is there to discuss?

Also, Gohan can you please add " without a prenup" to the end of "don't get married" because marriage is beautiful when it's basedo n true love and understanding, not when it is based on money.

[August Wilson]

Yeahh Mandy's right. Don't get married without a prenup. 10k/month is insane.

[ThePiedPiper]

Maybe the bitter person with 2.96 from the other thread recently.

haha ! I had re-read her post a couple of times because I just couldnt understand the point. They say 3.0, it's 3.0- what else is there to discuss?

Also, Gohan can you please add " without a prenup" to the end of "don't get married" because marriage is beautiful when it's basedo n true love and understanding, not when it is based on money.

This is why I am never getting married. Don't nobody have time for love contracts...Love shouldn't be devastating or scornful.

[blackbirdfly]

Maybe the bitter person with 2.96 from the other thread recently.

SEO staff: Sorry, you're not qualified enough.
Bitter Person: B**** I'll show you my qualifications.

ETA: No disrespect to the user with the 2.96. You were so close to the cutoff and I sympathize. I wish you well.

[applelover]

Maybe the bitter person with 2.96 from the other thread recently.

SEO staff: Sorry, you're not qualified enough.
Bitter Person: B**** I'll show you my qualifications.

ETA: No disrespect to the user with the 2.96. You were so close to the cutoff and I sympathize. I wish you well.

[Futuregohan14]

Maybe the bitter person with 2.96 from the other thread recently.

haha ! I had re-read her post a couple of times because I just couldnt understand the point. They say 3.0, it's 3.0- what else is there to discuss?

Also, Gohan can you please add " without a prenup" to the end of "don't get married" because marriage is beautiful when it's basedo n true love and understanding, not when it is based on money.

still risky

http://www.cnbc.com/id/34316003

The most common source of prenup challenges, though, involves spousal support, says Marina Korol, a family law attorney with the Law Offices of Korol & Velen in Los Angeles.

In some cases, the amount provided may have been reasonable at the time the agreement was drafted, but no longer reflects a “fair” dollar figure if the wealthier spouse came into far more money during the course of the marriage.

“Spousal support is always subject to the court’s scrutiny and it’s the part of a prenup that most people really are challenging,” says Korol. “Remember that it is only looked at the time of a divorce; not at the time of execution.”

better idea:

Prenuptial agreements, however, aren’t the only way to protect your pre-marital assets.

In some cases, asset protection trusts can be even more effective.

These tools allow individuals to transfer ownership of their assets - including real estate, stocks and savings - into a separate trust account and designate themselves as the trustee.

Rob Lambert, president of the Asset Protection Corp. in Manhattan, says such trusts allow you to name anyone you like as a primary beneficiary—including your spouse-to-be. In the event of your death or disability, the spouse takes on ownership of those assets.

During your marriage, however, you also retain the right to remove your spouse as the beneficiary anytime you choose.

If the marriage remains on course, your spouse keeps the beneficiary status. If it starts to crumble, you can always change your mind.

“It is possible to do some planning with trusts and family partnerships, which can be done unilaterally by the wealthier spouse before the wedding. It can reduce the exposure of one’s assets to divorce without the other spouse having to sign a prenup.”

moral of the story for bros who may potentially be well off in the future:

-don't get married if you can help it

-if you do get married, do it later in life. Pre-marital assets are easier to protect in a divorce than assets gained during the marriage. give yourself plenty of time to build those assets on your own outside of marriage so it'll be harder for her to grab them in a divorce. if you build those assets during the course of a marriage instead, you're more likely to lose them

-when you do get married, get a great financial planner (actually, always have a good financial planner regardless of your marital status)

-put your pre-marital assets (and any other assets you can) in a trust for protection. consider offshore accounts too (especially viable if you've got multiple citizenships and a good financial planner)

-sign a solid pre-nup as your last line of defence

[teampeeta]

Okay, call me crazy, but as someone who has lived in NYC, that guy's expenses don't seem super extravagant to me. While $2400/month for rent is on the high side in most cities, it is not on the high side in NYC. I'd be surprised if he could afford a 1BR place in most Manhattan neighborhoods for that amount of money. His transportation costs seem a bit high, but his food expenses don't. NYC is just expensive, especially if you have to pay more than half of your salary after taxes in alimony. Morals of the story: corporate law is less lucrative than 0Ls are led to believe and be careful whom you marry.

I was raised in and currently live in NYC. I occasionally shop at Whole Foods and Trader Joe's and lease an apt here. A monthly Metrocard is $110 and can get you anywhere around NYC. Food for two grown adults doesn't cost me more than $400 a month. It's called cooking food at home, shopping on bargains and coupons, and not eating at expensive restaurants.

As for apartments, you can get decent apartments for $900 - $1500/month in Queens and BK, even Harlem. My 1 bedroom spacious and modern apartment cost $900/month and I am close to about 4 subways and several buses.

This fellow sounds like he is placing his hand where he can't reach.

To be fair, $2400/month sounds more extravagant in terms of rent if you include some areas of Brooklyn and Queens. But if you're talking about Williamsburg or Manhattan, I stand by what I said before: it's not an absurd amount of money for rent. I know someone who goes to NYU and pays $2000 for a studio in the Murray Hill area and others who pay in that range for a share in a 2BR and they don't live in SoHo or one of the Villages. I don't think $650 a month for food means that he's spending a lot of his time dining at Le Cirque. I used to spend probably $400 for one adult/month and I shopped at Trader Joe's. Transportation is high considering he could use the subway and, as a partner at White & Case, he probably has ample access to a car service to take him back from the office at night. We can agree to disagree on his spending, I guess.

Bottom line: I am not getting married sans pre-nup.

[mt2165]

To be fair, $2400/month sounds more extravagant in terms of rent if you include some areas of Brooklyn and Queens. But if you're talking about Williamsburg or Manhattan, I stand by what I said before: it's not an absurd amount of money for rent. I know someone who goes to NYU and pays $2000 for a studio in the Murray Hill area and others who pay in that range for a share in a 2BR and they don't live in SoHo or one of the Villages. I don't think $650 a month for food means that he's spending a lot of his time dining at Le Cirque. I used to spend probably $400 for one adult/month and I shopped at Trader Joe's. Transportation is high considering he could use the subway and, as a partner at White & Case, he probably has ample access to a car service to take him back from the office at night. We can agree to disagree on his spending, I guess.

Bottom line: I am not getting married sans pre-nup.

This actually sounds kinda crazy, like I've always lived places with low cost of living (Cleveland/Rochester) so the idea that a man can't get by on 375K sounds so ridiculous, unless the guy is literally financially supporting half of the third world. But that was interesting. Random question if anyone wants to entertain it, I'm pretty young (I'll be turning 21 in late summer and I'm applying for this cycle),is anyone else nervous about the idea of actually having to be an adult?

[BentleyLittle]

So who wants to make some Free Gohan t-shirts?

[mandyjay11]

So who wants to make some Free Gohan t-shirts?

OMG TOTALLY SAW THAT LAST NIGHT! Please let's make shirts and coffee mugs ahaha

[August Wilson]

So who wants to make some Free Gohan t-shirts?

Is there a fund I can donate to, a moveon.org petition I can sign?

Wow
Much upset
very disappoint
wow