Why Sell Your Law Practice

Selling Your Law Practice: The Better Way to Retire

Sell your practice and earn a payout for all of the sweat equity you've invested to build your successful law practice. This relatively new exit strategy allows you to enhance your financial security for retirement. (Yes, it is ethical to sell a practice in the vast majority of states.) It also best guarantees a means to have your valued clients serviced at the same level of quality that they have grown accustomed to.

Do You Know Which Option Suits You Best?

  • Sell your law practice: You can sell it outright to a third party. This provides you with cash, a future revenue stream, or both.
  • Go “of counsel” with your own law firm: Similar benefits to a sale, except you play a more active role during the wind down.
  • Go “of counsel” with a different law firm: Under this option, another law firm either acquires your practice or you merge with that firm. You receive a compensation package that takes into account the book of business you bring and transition to other lawyers at the new firm.
  • Downsize: For certain practice areas, there may be more value in scaling things down in a more profitable manner rather than finding a successor.

Do you then know how to value your practice, find a buyer and structure a deal? No matter which option you think is best, Roy Ginsburg can help you with all of this and more.

Don’t Waste This Opportunity

Succession planning can bring up uncomfortable thoughts. The truth is you can’t avoid the end of your time practicing law. Take control of your firm’s future. Make sure that your family, clients, and colleagues avoid the inevitable confusion and turmoil caused by the failure to plan properly. Take comfort knowing your career will end on a high note.

Don't put if off any longer. The time is now to create a proactive strategy to find your successor. And you need do it with a professional. 

Contact Roy Ginsburg to Help You Sell Your Law Practice

Roy Ginsburg is an accomplished and experienced lawyer coach and consultant who has been helping solo practitioners and small firm owners devise exit strategies for more than a decade. He has been a practicing lawyer for more than three decades. In short, he has the insight you need to make smart choices as you exit the profession. Learn more by reading testimonials from past clients, calling Roy at (612) 812-4500 or by sending Roy an email.

 

Roy did an excellent job finding potential buyers. I greatly appreciated the vetting that he did so I didn't have to spend time assessing them. To be honest, when I first got the idea of selling my practice, I was not that optimistic . . ." Read the rest
– Solo practitioner, Burnsville, MN

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