Today's New York Times has this story about the increased billings by British law firms as they prepare their clients for Brexit. The opening graf tells it all: "In any divorce, lawyers are the only surefire winners, and as Britain muddles through one of the biggest, messiest and most complicated breakups in economic history, the country's top law firms are booming."
Of course, there is a downside. It is expected that economic activity will plunge in the U.K. once the separation from the EU is complete — including the departure of thousands of bankers — which will mean less business for law firms. As a means of Brexit-proofing, more than 2000 British lawyers have recently joined the Irish Roll of Solicitors, which currently requires only filling out an application, so that they will be able to continue practicing in EU courts. According to the Times, fully 13 % of the Irish Roll is now made up of British attorneys who registered since 2016.
So Brexit is good for lawyers in the short run, but it may bring bad times down the road. Here is how one tax lawyer explained it: "It's like you're a funeral director at the time of the plague. You're busy in the moment, but you fear a bit for your business model."