Succession Planning

Every attorney will eventually transition out of practice, whether by planned retirement, sale, illness, or death. Yet most lack a written succession plan. This program will explore both the ethical and practical considerations of succession planning, including the obligations outlined in Indiana Rule of Professional Conduct 1.3 and Comment 5. Topics will include valuing a practice, identifying and preparing a successor, structuring purchase and transition agreements, managing client files and trust accounts, protecting client confidentiality, and communicating with clients throughout
the transition.
Drawing on firsthand experience from a recently completed firm succession process, presenters will share what worked, what they wish they had done sooner, and the unexpected challenges they encountered along the way.