Succession

Law Firm Buying & Selling 2022 Trends Report

The market for buying and selling law firms continues to grow. The demand for information, data, and knowledge in this area is significant.  Fortunately, Tom Lenfestey with the Law Practice…

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5 Tips for a Successful Succession Plan

The statistics are disheartening. The ABA estimates that 400,000 lawyers in the United States are age 62 or older and that 63% of law firm partners 60 or older control…

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How to Save For Retirement and Reduce Taxes as an Entrepreneur

By Hannah Chapman “Is there any way to reduce our tax bill?” Ava asks, sitting with her husband Jeff and talking with their financial advisor over Zoom. “My business is…

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Legal Deserts: A Threat to Justice in Rural NC and How Succession Planning May Help

By Camille Stell There are 1.3 million lawyers in the United States, and 30,000 of them live in North Carolina.  Nationwide, there are approximately four lawyers for every 1,000 residents,…

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A Retirement Story: From Someone Who’s Been There

by Camille Stell Dr. David Ekerdt is a former professor who spent his career studying retirement as a sociology and gerontology specialist. In an essay written for the Wall Street…

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Should You Consider Buying a Law Firm?

By Camille Stell Have you ever considered buying a law firm? Based on my personal experience, most lawyers have not thought about it. If the idea has crossed your mind,…

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Is the Pandemic Shifting Retirement Patterns?

When you reach a certain age, retirement is on everyone’s mind. And the age varies. Several of my schoolteacher friends reached retirement age a couple of years ago. Retirement was…

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6 Considerations in Buying a Law Firm

By Camille Stell With an ever-growing number of Baby Boomers considering retirement, have you ever considered buying a law firm? Maybe you should. Why Should You Buy a Firm? You’re…

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Conversation with a Law Partner About Retirement

By Camille Stell Are you ready to have a conversation with your law partner about retirement? What’s standing in your way? Challenges My law partner and I started this firm…

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Retirement: A Fable

The Great and Powerful Wizard was tired. He found himself dreaming of sleeping in, long weekends at the lake, or reading the newest bestseller. But work never stopped. Someone always…

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