Managing Law Firms in Transition

Managing Law Firms in Transition

Tag Archives: law firm debt

Four Key Components to Law Firm Financial Health-Meeting the Universal Objective

Posted in Law Firm Leadership, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Transition
Law firms come in all shapes and sizes.  Some consciously specialize in distinct areas of the law while others are more reactionary-willing to do anything they feel generally competent to do.  Firms can be local in scope, only serving a home town populace from its home town address.  Geographically expansive law firms can have a… Continue Reading

Lexit: How to Respond to Lawyer Exodus from Your Law Firm

Posted in Law Firm Crisis, Law Firm Leadership, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Transition
Modest attrition at law firms is to be expected-it happens continually and few firms are exempt. But when the lawyer departures spike, or the particular resignations are from your most important lawyers, management must respond quickly. Lawyer departures don’t just happen for any reason. Unexpected and damaging departures often can be traced to problems a… Continue Reading

More Innovation for Law Firms Coming-How it Will Change Your Practice

Posted in Law Firm Leadership, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Transition
As staid and conservative lawyers and their profession may seem, it is undeniable that change is a part of their world.  The change that has confronted the legal profession since the collapse of 2008 has garnered a lot of press, but lawyers and their firms have had to adjust to an altering world for a… Continue Reading

Law Firm Succession Planning-The Unfunded Pension Plan

Posted in Law Firm Leadership, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Succession, Law Firm Transition, Law Firm Warning Signs
For more than a few AmLaw 200 law firms, non-qualified retirement plans exist that are largely unfunded. Although “a good idea at the time” when established, the plans now can represent a significant burden. As James Cotterham wrote in his Retirement Basics for Law Firms a decade ago, the unfunded pension plans can be a… Continue Reading
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