Menu
I always tell clients that my appraisal provides an excellent starting point for negotiating the price of a law firm with an insider, but that it is unlikely that it will be the final word. While it may sound like a cliché, for most small firm insider deals, parties ultimately agree on a price that seems “fair.” 
Law firm succession planning is certainly getting its share of attention these days. It makes sense, too, considering one-third of the attorney population will be made up of boomer lawyers (those 65 years of age or older) within the next 10 years. 
With Baby Boomers retiring left and right, law firm leaders everywhere are talking about succession planning. Yet, much like the weather, no one seems to be doing much about it. Legal consultants Altman Weil report that only 31% of its surveyed law firms had formal policies in place. ALM Legal Intelligence puts the number at 33%. 
The most common exit strategies for retiring solo practitioners and small law firm owners typically include recruiting a successor, merging with another law firm, or selling the practice. All of these options have advantages and disadvantages. Continue reading about why law firm size matters in this post at www.myshingle.com 
© 2026 Roy Ginsburg, J.D. | Blog Index|View Our Disclaimer|Privacy Policy
Law Firm Website Design by The Modern Firm
