I've worked in the music industry for a few years - on the production side.
From the reading I do, and the discussions I have with people in the industry, the music business is basically dead (pretty obvious). As an entertainment lawyer, most available jobs will be drafting and negotiating contracts for whatever ideas the execs come up with on how to make money in the new environment.
A degree in music business doesnt really set you up to practice IP. Look into intellectual property, it's quite a diverse, complicated area of the law.
And, on the personal side, if you want to help artists with all of their other legal problems you mentioned: divorce & criminal law, the best thing you could do is refer them to a litigator with tons of experience in that area. If I have an entertainment attorney and I'm going through a divorce or a criminal trial, I want my case in the hands of the best in that field.
I'm basing a lot of my opinions on attorneys I've spoken with around the courthouse. I USED to have an interest in entertainment law until I realized that it's all about who you know, how "low" you will go, and how well you negotiate.
Or, maybe you feel like dealing with people who think they're more talented than they really are, and you feel like spending your time negotiating for them to get more money.
Just my negative $.02. It does sound like you have your poo together, though. Good luck!
Haha, those were my exact fears about entertainment law. Having played a music for a long time myself, I know how annoying and full of themselves some people can get. I have a jazz musician friend who refused to perform for a study break because other people were also performing and he "doesn't share the stage". He's in my band, so I keep him in line
It's interesting that you mention that it's "who you know". Networking is one of the aspects of entertainment that makes me nervous, because I have traditionally never been strong in this area. It's probably one of the reasons I didn't become a musician; I was good enough but just didn't know enough people. I got better at it in college, but my school and town are so small that it's relatively easy to meet everyone who's involved in music.