Is it Time to Retire?
February 11th, 2016
For most lawyers, the decision when to retire is rarely black and white. Instead, the choice comes with lots of gray (that goes along with your gray hair!). To help you find the right time, think about these questions: Do you still have the fire in your belly? Are you still excited about going into the office, or do you dread the thought? Have you been on the receiving end of subtle or not-so-subtle suggestions from family, friends or colleagues that perhaps it’s time to slow down? How do you feel physically? Is your mental edge still there? How often do you have “senior moments?” How healthy are your parents? Will you need to help them through their own sunset years? How is your spouse’s or significant other’s health? What are his or her retirement plans? Do you laugh or cringe when you hear the oft-told retirement joke, “For better or for worse, but not for lunch.” Have you reached your “number” so you can afford to retire? Do you have any idea what you are going to do when you retire? (Don’t count on being content with just playing golf and sampling new local restaurants and movies.) What’s on your bucket list? Do you have enough time, money and the requisite health so you can start to check things off? Get Out Your Crystal Ball But always remember the Yiddish expression, “Mann traoch; Gott lauch.” This translates into, “Man plans; God laughs.” So go ahead and plan, but also plan to be flexible. Enjoy your retirement! Read More
Categories: Retirement/Succession
Size Matters
August 14th, 2014
The most common exit strategies for retiring solo practitioners and small law firm owners typically include recruiting a successor, merging with another law firm, or selling the practice. All of these options have advantages and disadvantages. Continue reading this post at www.myshingle.com Read More
Planning for the Unexpected
May 19th, 2014
A frequent complaint of solo practitioners is that since they are alone and in charge, it is difficult to get away for a vacation. But somehow, most seem to manage by finding another lawyer to cover for them should there be an emergency type of situation. That’s easy to do because the vacation is planned. But what if you are taken away from your practice for something that is not planned? What if you are incapacitated or even die from an accident? Do you have another lawyer to cover for you under these circumstances? Continue reading at www.myshingle.com Read More