Managing Law Firms in Transition

Managing Law Firms in Transition

Tag Archives: law firm capital

Law Firm Retirement Plan Tweaking – Four Additional Things to Think About

Posted in Law Firm Leadership, Law Firm Succession, Law Firm Transition
At a growing number of law firms, the Boomer generation is reaching the age when retirement among the ranks has partners leaving in increasing numbers. Numerous industry focused writings have noted an array issues faced by law firms experiencing retirements. As partners retire, financial ramifications can be felt. The monetary payout associated with the retirement… Continue Reading

Succession Planning as Financial Planning: Five Critical Components

Posted in Law Firm Leadership, Law Firm Succession, Law Firm Transition
Succession planning is an important issue for many law firms, especially as the Boomers and Generation Xers age and the human resource pyramid becomes an irregular shaped box.  When you add in the assault on the industry from client competition, alternative service providers, and artificial intelligence, the necessity of doing succession right is more critical… Continue Reading

Law Firm Succession: Addressing the Most Important Issue

Posted in Law Firm Leadership, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Succession, Law Firm Transition
After years of success (by any number of measures), more than a few firm founders (or later generation leaders) confront succession.  Some of them are simply ready to step back and enjoy life-turning their worries over to the next generation has great appeal.  Others are driven by unanticipated developments-illness or family circumstances compel them to… Continue Reading

Five Reasons for Law Firms to Think About a Merger in 2018

Posted in Law Firm Growth, Law Firm Leadership, Law Firm Merger, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Succession, Law Firm Transition, Law Firm Warning Signs
There is much to do when a law firm closes out its year.  Getting bills out, collecting receivables, paying bonuses, and distributing profits are but a few of the things that get the attention of leadership.  As long as the firm’s year has moved along normally, finishing up strong often is the main focus of… Continue Reading

Law Firm Capital Contributions-How Healthy an Investment?

Posted in Law Firm Leadership, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Warning Signs
Recent commentary on trends among law firms has highlighted the increasing popularity of requiring greater capital contributions from owners. As Law.com‘s Nell Gluckman notes, instead of capital requirements in the 20-25% range as was common for years, law firms more frequently are jacking up the owner capital requirements into the 30-35% level. In some cases,… Continue Reading
.