As a self-employed lawyer, you are directly responsible for your business expenses. So what would happen if a serious accident or illness prevented you from working?
Just because you can’t work doesn’t mean your business expenses suddenly stop. You’ll still owe rent, equipment lease payments, and utilities. In addition, you probably have employees with families who depend on your ability to pay a salary on time.
You’ll need money to keep the doors open and the lights on so you have something to go back to when you recover. If it looks like you can’t return, you’ll need to cover . . . [more]