When I worked with Roy, I was tired of practicing employment law and wanted to move into an HR position at a local company. Roy thoroughly vented my desire to stop practicing to be extra sure that I fully understood the consequences of leaving the la…"
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– Vice-President, Human Resources, Minneapolis, MN corporation
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 S. Ginsburg, J.D.
“My goal is to help lawyers become more successful and satisfied in their careers.”
I have spent more than 30 years practicing law in both private practice and as in-house counsel, and currently run a successful part-time solo practice. I…