In this newly published article in Business of Law Digest (BOLD), I take up some of the more sensitive and frustrating aspects of partner succession planning.
“Baby Boom generation law partners are not doing a particularly good job of retiring from practice. They know they will have to leave the profession someday, but cannot imagine what their lives will look like in retirement, so they avoid discussing the topic with their law firms. Many times, their firms do not ask, not wanting to bring up a sensitive subject. In a “don’t discuss” environment, revenue losses from partner retirements and strategies for mitigating them may not factor into a firm’s strategic planning.”
