As an attorney, I have a practice that is a mix of litigation and transactional work. The exact proportions of each vary cyclically, and tend to be lagging indicators of the economy as a whole by a few months.
A few months after a recession starts, I start to get more litigation, mostly commercial, corporate, and real estate related, but also high net worth divorces, as people sue each other when business deals collapse and financial tensions in marriages grow.
A few months into an economic boom, in contrast, I start to get more transactional work, from business and real estate deals to business formation, and also more estate planning.
Right now, I'm seeing a noticeable shift away from litigation work (although I still have plenty of it persisting from when that was at its peak) towards new transactional work.
This is consistent with the U.S. and Colorado economies that have been strong for a while, with the lag finally catching up to my work load.
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