Your Firm Needs a Succession Plan: Here’s Why & How
Date: Jun 15, 2023 9:00 a.m. – 12:00 p.m.
When an attorney dies without a succession plan, the onus often falls on the Court and the attorney’s family to wind down the practice and ensure that the clients are protected. Families who are grieving then have to deal with additional stress, and the overburdened assignment judges need to find lawyers who can take over after an unexpected death. The results are often messy, and the Court is urging attorneys to develop succession plans to avoid the morass.
Join the NJSBA/NJICLE for a special presentation by The Hon. Jeanne T. Covert, AJSC as Her Honor explains the problems for an attorney’s family, the Court and their clients when a lawyer dies without a succession plan. Then, hear from the Judge and experienced attorneys who will show you how to create a plan that is right for you and your practice. They will walk you through the steps you need to take to ensure your firm has a solid plan in place if the unexpected happens.
- The huge problem created when a firm’s partners have died without a succession plan
- The three ways to transfer interest in a small firm
- The pros and cons of merging your firm with another
- Court rules re: appointment of attorney-trustees to protect clients’ interests
- Drafting tips for succession plans – clauses to include, goals to keep in mind, etc.
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