Can a lawyer make a 50k investment t in a shoe store owned by one of his clients?

Legally or illegally?

Are you talking about a 50% interest, or a $50,000 in payment - but the store owner having it classified as an interest payment so he can write it off? There are lots of ways to write things off legally, but you must be clear as to what you're trying to do.

okay let me rephrase sorry, 50K investement in the business so that he may help make business decisons, he has only written a will for the client and thanks for the responses

shamless bump for info

The answer is yes (see link below), but:

What do you mean by: "take"? Do you mean as it is OFFERED by the client or requested by the attorney in a lawsuit? If it's for payment for services rendered, yes. But NOT for the expressed promise of winning a case.

Actually, it's legal for an attorney who seeks payment from a client to sue and claim property or stocks, etc., to repay a balance that is owed by the client, for payment of services (if an attorney chooses to go that route). But a client can also choose to pay with other assets instead of "cash", such as property: house; boat; stocks and bonds; etc., but there are legal disclosures required by law.

It's been done many times before and people still do it. The only problem though is that an attorney can choose to decline such payment and request money. In that case the client would have to SELL said assets and then pay the attorney the earnings.

[link to www.quora.com]

Oh, so the lawyer wants to buy into his client's business for a sum of $50K? Of course he can, assuming the the client owns the business. To be legal, they just need a contract specifying the terms. I would be very careful getting into business with a lawyer who I am not a personal friend with, know what I mean? The lawyer would probably end up with the store eventually.

I just saw your edit.

Again, yes. But there are ramifications. Basically you're saying he becomes a shareholder. Of course, his decision-making power will depend on how much of a percentage his 50k investment awards him. Example: does his 50k investment earn him a 50% stake??? Or 10%???

okay great answers, I was just trying to decide if Model Rule 1.8 would apply and from your answers I see that it would not as long as the exceptions were met....

again thanks for the help, I knew there were some sharp lawyers hanging around glp

Just so you know, I am not a lawyer. I do own several businesses though.

:-) awesome and again, thank you

P.S. - I also don't know what the hell MRPC 1.8 happens to be, LOL.