Domain: Business of Law
Does your firm have a succession plan in place? Most law firms do not. But the sooner you start the discussion and the process, the better. The statistics are alarming:
- 400,000 lawyers in the United States are age 62+
- 30-40 percent of practicing lawyers are at the age and stage where they are beginning to contemplate retirement
- 63 percent of law firm partners, age 60+, control three quarters of their firm’s revenue
This session will guide you through the challenges you’re likely to face when succession planning. You’ll take a deep dive into the succession plan developed by a southeast regional law firm. In addition, you’ll identify best practices to help your firm develop a successful model for transitioning lawyers and clients through the process.
Topics include:
- Common challenges when creating a succession plan
- Why your firm — and every firm — needs one
- Lessons to be learned from one law firm’s planning experience
- How to prepare lawyers and clients for the changes ahead
Presenter(s):
Julie D. Beavers, Director of Attorney Recruiting and Professional Development, Ward and Smith, P.A.
Tom Lenfestey, Partner, CPA, Adams, Howell, Sizemore & Lenfestey, P.A.
Laura V. Hudson, Director of Marketing and Business Development, Ward and Smith, P.A.
Camille Stell, Vice President of Client Services, Lawyers Mutual Liability Insurance Company of North Carolina
Member Price: $59
Prospective Member Price: $79