Publisher's Synopsis
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; and
- understand special considerations for contingency-fee practices.
