Passing the Torch without Getting Burned: A Guide to Law Firm Retirement and Succession Planning

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ISBN: 9781614389033
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ISBN: 9781614389033
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For law firms, succession is a fact of life: founding partners retire, rainmakers depart, and in the meantime, client relationships must be preserved. Passing the Torch without Getting Burned: A Guide to Law Firm Retirement and Succession Planning is a comprehensive examination of the key economic issues typically encountered by law firms when they consider how partners end their careers, as they inevitably must. Peter Giuliani, an experienced law-firm management consultant, illustrates common retirement issues and their resolutions through "real life" case studies from his years of consulting experience. This book will help you:

 •  Understand the basic economics of retirement and succession planning
 •  Take care of founding partners upon their retirement
 •  Bring new partners into the firm
 •  Select a retirement plan that's best for your firm--and make it affordable for employees
 •  Weigh the costs and benefits of mandatory retirement
 •  Consider "emeritus status" alternative retirement plans
 •  Integrate compensation plans with retirement policies
 •  Think about selling your law firm
 •  Understand special considerations for contingency-fee practices

Passing the Torch without Getting Burned: A Guide to Law Firm Retirement and Succession Planning also includes retirement policy forms and sample language for partnership agreements.