How to Avoid Practicing Law After Selling Your Practice

If you decide to exit the legal profession, you should explore the option of selling your practice. Most states have adopted a version of Model Rule 1.17, which requires you to jump through some hoops before you can sell. Continue reading this post on www.lawyerist.com Read More

What You Need to Know in Order to Sell a Law Practice

For years, selling a law practice was prohibited because ethics regulators believed clients, files, and a firm’s good will were not something that could be sold. This prohibition did not really affect larger law firms, which would just buy out partners, i.e. the partnership would return the percentage of the equity owned by the retiring partner. Smaller law firms were able to “sell” themselves by merging with other firms. Continue reading this post on www.lawyerist.com Read More

How To Determine If Your Law Practice Is Worth Anything

Frequently, soon-to-be-retired solo practitioners or small law firm owners want to know if it is worth the effort to sell their practices. By far, the most significant determinant of the answer to this question is whether and for how long the practice can continue to produce revenue once the seller is gone. Continue reading this post at www.lawyerist.com Read More

Buying a Law Practice

Even with the best of marketing tactics, the time needed to build a successful law practice is usually measured in years. There is one tactic that—if properly executed—can help you attain an established practice practically overnight. That tactic is buying rather than building a practice. Continue reading this post at www.lawyerist.com Read More

One of the reasons my partner and I hired Roy was that we recognized the difficulty of how to value our immigration practice. There are many different theories and goodwill is such a variable. I liked the fact that Roy had definite ideas about how to…" Read more
– Small law firm owner, Denver, CO

eBook_exit_strategies

Schedule a Free Consultation

  • This field is for validation purposes and should be left unchanged.