Description

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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.

About the Author

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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).