I’m over 65 and still going strong. Why not just die at my desk?

I’m over 65 and still g…

TRANSCRIPT:

Yeah, I think for some lawyers dying at the desk is actually a good strategy. These are the lawyers who just – they love what they do. They can’t imagine doing anything else, so the thought of planning just doesn’t appeal to them at all. And, in fact, for some lawyers it can be actually a better – if the strategy is to maximize your profit, to maximize the return you have on your firm, working as late as you possibly can sometimes adds more value to your estate than doing a deal and getting some money for your practice. 

So for those types of lawyers, yeah, it’s good. But the most important thing, if you’re going to be one of those lawyers, is to make sure you have a contingency plan in place, which of course all lawyers should have. And what do I mean by contingency? Someone knows all your passwords. Everyone knows where the files are and who should be notified for this and who should be notified for that. Then dying at your desk – you know, God bless you. You’ve had a good career. Go that way.

I originally hired Roy to help me value my criminal defense firm with the idea of passing it along to my senior associate. Instead, he convinced me that I first had to make a few changes to the firm in order to get it ready for a successful transitio…" Read more
– Small law firm owner, Madison WI

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