Maintaining and Extracting the Value of Your Law Practice

Date: Feb 26, 2024 12:00 p.m. – 4:00 p.m.

Location: Online

Member Price: $167

Non-Member Price: $209

Section Price: $157

Event Code: I143524

Areas of Law: Solo & Small Firm

Earn up to 4.5 credits! (More Information)

Faculty

Keynote

Moderator

Martin H. Abo, CPA, ABV, CVA, CFF
Abo And Company, LLC, Mount Laurel

Presenters

Jennifer Gillman, Esq.
Founder and President
Gillman Strategic Group, Westfield
Dennis J.J. McGee, Jr., ChFC RICP
Vice President, Wealth Management, USI Affinity
Miles S. Winder, III, Esq.
Past President, NJSBA
Miles S. Winder, III, Esq., Tacoma

Presented in cooperation with the NJSBA Solo and Small-Firm Section

This seminar is all about value. You worked hard to establish and build a practice and have spent years or even decades to ensure its success. However, if you want to sell it, retire or leave, or if you have a book of business that you would like to bring elsewhere, you need to know how to put a dollar value on it.

Join an esteemed panel consisting of a respected accountant and financial planner, a wealth manager, a law firm matchmaker and a former NJSBA president who sold his practice, for session about valuing your practice. They will assist you not only in discerning what your office might be worth in a sale or merger, but will also discuss the value of a partner moving to a new firm with their files or a small group’s merger with a larger law office. The speakers will also provide instruction on how to maintain the value of a practice in the event of casualty or temporary disability of a partner and key personnel.

Each attendee will receive a valuable pdf of materials plus the e-book, Successful Succession Planning for Lawyers.

Program Agenda:

  • 12:00 | Introduction
  • 12:05 | Business valuation basics – reasons for valuation and characteristics that affect valuation
  • 12:45 | The unique perspective of law office valuation
  • 1:00 | Insurance products and decisions related to law office value maintenance
  • 1:50 | Law Office Transactions Buy/Sell
    • Merger and individual practice portability
    • Introduction to succession planning
    • How to do it, how to use it
    • Ethical rules affecting the sale of law practices
    • Resources available to help you get your practice ready for sale
    • Planning for sale, planning for catastrophe, planning for retirement
  • 2:40 |Networking break
  • 2:55 | The value of and strategies for succession planning
    • Maintain and extract value from years of hard work
    • Protecting one’s clients, family and the administration of justice
  • 3:45 | Panel discussions and Q&A
  • 4:00 | Adjourn

CLE Credits
NJ CLE:NJ CLE information: This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 4.5 hours of total CLE credit (Full Credits Available: CPE Taxation: 4.5, NJ General: 4.5).
NY CLE (t&nt):NY Practice Management Transitional: 4.5
PA CLE:PA Substantive Credit: 3.5
New: No PACLE fee is required for this program. To earn PA CLE credits, a valid PA Bar ID number must be entered into the CLE form provided after attending the program.

Important Information About Our Events, Meetings, and More:
To secure your spot and receive important updates about our events, meetings, and other gatherings, such as schedule changes, remember to register in advance.

Cancellation and Refund Policy:
If you need to cancel your registration and are not transferring to another program or date, please submit a written request to us at least three business days before the event, meeting, or gathering. You will receive a refund minus a $20.00 cancellation fee. No refunds or registration changes will be issued within three business days of the event, meeting, or gathering.

Stay Informed:
Registered participants will be notified of any schedule changes. For updates regarding inclement weather, please check your email or visit NJSBA.com.

Media Consent:
By participating in our events, meetings, or other gatherings, you agree to be photographed and/or recorded. Additionally, all media content captured during these gatherings will become the property of NJSBA. This content, including your image and name, may be used in our future promotional materials without additional consent or compensation.

Scholarship & Financial Assistance Policy:
Read our Scholarship & Financial Assistance Policy and submit an Application here: https://njsba.com/njicle/cle-programs/scholarship/

 

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