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I've read/heard on the recent news that on an ongoing case, lawyer of a person, himself, has lawyered up (actually, I heard that about the Trump's lawyer, here, or here but please don't derail the question with the particular case).

As this is the first time I am hearing something like that and considering I don't have much experience with law, I want to know, why and on which cases such thing happens? Is it because if a lawyer loses to defend his/her client, he/she should pay some tribute to his constituent or something like that, or lawyers of a lawyer have just advising role in general?

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The term "lawyer up" usually refers to a person asserting their right to silence and counsel, which means that police interrogation must stop. A lawyer would "lawyer up" in that sense if he was being interrogated by the law. Michael Cohen, on the other hand, retained an attorney because of the threat of legal interrogation. As a general rule, absolutely everyone who is the subject of a legal investigation should seek legal counsel, to protect their rights. Although lawyers are broadly trained in many aspects of the law, they aren't experts in all such aspects, so it would probably not be wise for a tax attorney to defend himself in a criminal trial, and a family law expert might not be the best guy to hire to advise you on a complex real estate matter. Since the particular case is highly political, added insulation in the form of an attorney between you and the investigators is to be expected.

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    It’s worth noting that even a criminal defense attorney would hire a criminal defense attorney if the former was facing criminal charges. Lawyers don’t just say it’s stupid to represent yourself because it’s self-serving. It actually is. – A.fm. Aug 4 '17 at 3:26

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