“Selling or Buying a Law Firm”
Solo and Small Firm Conference
Minnesota CLE www.minncle.org
Roy provided what our firm was looking for; a thorough analysis of our succession planning issues. What we found particularly helpful was his knowledge and insight into what other firms are experiencing and doing in regard to succession planning an…"
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For solo practitioners and small law firm owners seeking retirement, here is a quick, down-and-dirty summary of the succession plan strategies available to you. Put another way, here are three structural ways that soon-to-be retired lawyers can “sell” their practices.
A critical component of a law firm’s succession plan is to figure out how to retain the firm’s best clients when senior lawyers retire. Most law firms quickly jump to determine who in the firm is either ready to step up or ready to undertake proper mentoring and training to step up in the future. Before making this determination, however, it is important to ask several questions.
Roy is a lawyer by training and trade. He has 30-plus years of experience practicing and representing clients in a variety of environments: big law firms, small firms, in-house counsel and solo practice. He still practices part-time in a solo practic…