Passing the torch without getting burned
Subtitle: a guide to law firm retirement and succession planning
By: Peter A. Giuliani
Contributors: American Bar Association. Law Practice Management Section
Publisher: ABA, Law Practice Management Section; American Bar Association
Published: 2013
Place of publication: Chicago
Language: eng
Number of pages: 161
ISBN-13: 9781614389026
Subjects: Lawyers; Retirement; Planning; Practice of law; Inheritance and succession; Estate planning
Description: "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 cost 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 includes retirement policy forms and sample language for partnership agreements"--Page [4] of cover.
Notes: Includes bibliographical references (pages 155-157) and index.
Table of contents: title: Why plan for retirement and succession?; title: A brief history of partner retirement plans; title: Survey of agreement terms; title: The special case of founding partners; title: What is a law firm worth?; title: Taking care of the founders; title: Qualified retirement plans; title: Making unaffordable plans go away; title: Retirement : mandatory or optional?; title: "Emeritus status" : the alternative retirement plan; title: Integrating compensation plans with retirement polices; title: Selling your law firm; title: Special considerations for contingency-free practices; title: Final thoughts.