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Succession Planning

Will you continue to enjoy benefits from what you have built after you transition?

One of the most critical and time sensitive issues being discussed among law firm owners and shareholders in their 50's and 60's is how to exit their law practice in the next 10 to 15 years, and in a way that lets them:
  • Harvest the value of what you have built up over the years
  • Appraise the value of your practice
  • Prepare the next generation to lead the firm and build a legacy
  • Retain a productive role

Phelps Legal Consulting offers a “virtual course” for attorneys who have two to 10+ years until they plan to transition:

How does the course work and when does it start?

In a private, one-on-one virtual course, an experienced law firm consultant will take you through a proven process of succession planning for attorneys. The course length is approximately 180 days and is typically delivered in two, one-hour dedicated sessions per month. It includes a set syllabus and accompanying materials and homework.As the course is a dedicated, one-on-one engagement, we have limited availability for this highly in-demand offering.
Whether your ultimate goal is to execute the sale of the firm to an outside buyer or to transition to an internal successor, this course provides you the tools and structure you'll need.

Course Highlights

  • Development of transition scenarios
  • Defining and targeting buyers
  • Creation of a detailed succession plan, including a roadmap, customized to your firm and situation
  • Practice valuation, including brand valuation and website assessment
  • Steps to take to maximize value
  • Options on how to be compensated
  • An associate selection and development plan
  • Financial strategies
To register for the course, or if there are any questions, please contact us at (800)664-1264 or via email (david@phelpslawfirmconsulting.com). A detailed course outline can be sent to interested firm owners or shareholders upon request.