As Arizona passed Rule 5.4 last week, allowing for non-attorneys to have economic interest in legal firms and allow for nonlawyer fee sharing, another significant change in the state’s laws was made centered around who can practice and financially benefit from the law. And that change could have wide-reaching implications.
The state has allowed for the creation of Legal Paraprofessionals, which will be known as LPs, and they will be able to practice as affiliate members of the state bar and be subject to the same ethical and rules considerations as attorneys. Experts say that this new position was necessary to sell the idea of lower-cost legal services via outside financing and make it more palatable to the public.
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