Succession Planning

Accounting And Financial Planning For Law Firms

Lack of a Succession Plan Can Lead to the Death of a Law Firm

J. Mark Santiago

Firms with aging managing partners should develop a succession plan for transferring clients and management responsibilities (over a five-to-ten-year transition period) to the firm’s younger attorneys.

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Accounting And Financial Planning For Law Firms

Is Your Firm Prepared for the ‘Silver Tsunami’?

J. Mark Santiago 

A Silver Tsunami of aging partners is threatening the legal profession. There’s a way to higher ground.

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Accounting And Financial Planning For Law Firms

Key Tax and Financial Considerations for New Law Partners

John Fitzgerald and Christopher Imperiale

Being asked to join the partnership of a firm is a measure of success as a legal professional. With that achievement comes tax and financial responsibilities that, surprisingly, few attorneys are fully prepared to deal with. These responsibilities include the unexpected individual federal and state and local tax filing and payments.

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Accounting And Financial Planning For Law Firms

Five Keys to Successfully Transitioning Clients Across Generations

Kent Zimmermann

Strengthening Cultural Expectations Is Key

Client relationship succession planning is a top concern among law firm leaders. Firms of all stripes frequently develop goals in their strategic plans to facilitate more effective client relationship transitions. However, there is room for many firms to take a more formal and proactive approach to effectively transition client relationships across generations.

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Accounting And Financial Planning For Law Firms

How Will Generation X Lead Big Law?

Lauren Still Rikleen

Stop Obsessing About the Millennials (for Now)

For decades, members of Generation X have been stuck between two behemoth, attention-draining generations, wondering if they would forever be relegated to back-bench leadership — mere seat-warmers for ambitious millennials waiting for baby boomers to retire. Now, as boomers slowly face their own mortality and aging bodies after a lifetime of devotion to work, there is no longer a need to question whether Gen X will have an opportunity to lead.

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