Why Sell Your Law Practice

Selling Your Law Practice: The Better Way to Retire

Are you worried about leaving money on the table when planning your exit strategy? Or about who will take care of your long-term clients when you stop practicing?

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 as your strategic advisor.

Don’t Waste This Opportunity

It would be a shame to simply walk away with nothing when retiring. 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 helped me when I purchased a small solo rural practice. His advice was always spot on, to the point and very helpful. Like most lawyers, I never had any experience buying a practice. It was great to have Roy to rely on whenever . . ." Read the rest
– Solo practitioner, small PA town

eBook_exit_strategies

Talk with Roy

Fill out our online form