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.
- 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
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
This session includes video, audio and synced presentations for an enhanced virtual learning experience.