Overview

For law firms, succession is a fact of life: founding partners retire, rainmakers depart, and in the meantime, client relationships must be preserved. Passing the Torch without Getting Burned: A Guide to Law Firm Retirement and Succession Planning is a comprehensive examination of the key economic issues typically encountered by law firms when they consider how partners end their careers, as they inevitably must. Peter Giuliani, an experienced law-firm management consultant, illustrates common retirement issues and their resolutions through ""real life"" case studies from his years of consulting experience. This book will help you: understand the basic economics of retirement and succession planning; take care of founding partners upon their retirement; bring new partners into the firm; select a retirement plan that's best for your firm--and make it affordable for employees; weigh the costs and benefits of mandatory retirement; consider ""emeritus status"" alternative retirement plans; integrate compensation plans with retirement policies; think about selling your law firm; and understand special considerations for contingency-fee practices. Passing the Torch without Getting Burned: A Guide to Law Firm Retirement and Succession Planning also includes retirement policy forms and sample language for partnership agreements.

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9781614389026

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Peter A. Giuliani is a partner at Smock Law Firm Consultants. His law firm management experience spans nearly forty-five years, both as a management consultant to law firms and other professional service firms, and as executive director of Cummings & Lockwood, a 180-lawyer law firm based in Stamford, Connecticut (seven years).

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