Episode #3.4: Lynda Shely in The Heart of Law

Prepare to venture Prepare to venture into the uncharted territory of Arizona's legal landscape, where the rulebook is being reshaped, and the status quo is bravely defied. In this transformative episode of The Heart of Law, our astute host, Mirena Umizaj, invites Ethics Attorney Lynda Shely, the esteemed founder of The Shely Firm, to shed light on the intricacies of the Arizona Business Structure (ABS) program and its groundbreaking 2021 rule changes. Together they discuss the elimination of Ethics Rule 5.4 and how it has acted as a powerful catalyst, propelling Arizona lawyers to forge collaborative partnerships with non-lawyers, igniting a new era of innovation and opportunity in the legal landscape.
With an impressive private practice spanning over two decades, Attorney Lynda Shely has consistently delivered exemplary representation to numerous law firms while also providing invaluable ethics advice to over 2,000 firms nationwide. However, her influence extends far beyond her thriving practice. With pivotal roles in prominent committees and organizations, including the Arizona Supreme Court's Alternative Business Structure (ABS) Committee, Attorney Lynda Shely stands at the vanguard of the ABS program's development and implementation, driving the advancement of innovative approaches to legal practice.

As the episode unfolds, Attorney Lynda Shely takes a moment to reflect on her personal journey to becoming an ethics attorney, navigating the delicate balance of career and motherhood while raising her three children. Her story serves as a testament to the determination and resilience required to carve a path in the legal profession. Reflecting on her experiences, Attorney Lynda Shely unveils her instrumental role in spearheading the groundbreaking initiative that allows Arizona lawyers to establish law firms with non-lawyers as owners or investors. Addressing misconceptions, she acknowledges lawyers' concerns about potential conflicts of interest. However, she assures listeners that the Arizona ABS program is designed to maintain integrity by safeguarding lawyers' control over legal decisions. She sheds light on the rigorous regulations and meticulous approval process that enable non-lawyers to hold ownership stakes in law firms while respecting the professional autonomy of lawyers in client representation and case selection.
As the conversation progresses, the focus shifts to the intriguing realm of mass torts and its intersection with Wall Street. With artful emphasis, Mirena highlights the profound significance of this intersection, succinctly stating, "this is where the rubber meets the road." Her words resonate as Wall Street ventures into the domain of mass torts, actively investing in law firms through financial loans, seamlessly integrating themselves into the very fabric of the debt structure. In parallel, Mirena and Attorney Lynda Shely explore the ever-evolving landscape of technological advancements, honing in on the transformative impact of chat GPT and its wide-ranging implications for the legal field.
As the final moments of the episode unfold, the spotlight shifts toward the legal landscape in Utah, where uncertainty looms over the issue of non-lawyer ownership. Mirena's mention of Utah's shifting stance from considering partnerships to potential felony charges raises eyebrows and prompts reflection. In response, Attorney Lynda Shely expresses her disappointment in these attempts to restrict innovation and courageously advocates for the embracing of change. She acknowledges that "change is scary,", particularly in the legal profession, where risk aversion often prevails. However, she reminds us that it is precisely this embrace of change that propels progress and allows the legal profession to adapt and better serve its clients.