The shingle may come down, but the liability for your work continues after you retire, go of counsel, become disabled, die, or sell your practice.
Lawyers can protect themselves by studying the three R's-risk, resolution, and reality.
One lawyer, looking for new quarters, tells about the day he toured an office suite formerly leased by a law firm. Cigarette butts were still in the ashtrays, the heap of unopened mail was six inches high, documents were stacked in the computer printer-there was even a lighted button flashing on the telephone. It was eerie, like someone yelled 'fire,' everyone ran out the door and never came back. Imagine what would happen if you walked out the door today and never came back. Likewise, protecting yourself from the risk of a future malpractice claim needs to be a part of your family financial plan.