Exiting a Practice

• Selling a practice
  
• Retirement
• Disability
• Succession planning

Selling a practice

• New Opportunities for Buying and Selling Law Practices: This article discusses the important issues to consider when valuing, selling, and closing your practice.
• Planning Your Exit
• Sunsetting a Law Practice: This article describes personal stories of attorneys who have changed careers after running their own practice.
• What Happens to Your Law Practice and Your Clients if Something Happens to You?: The Missouri Bar's Law Practice Management Online Center offers some helpful tips and strategies.
• What Happens When a Lawyer Dies?: Discusses the difficulties and issues of closing an office for a spouse who has passed away.
• Winding Up a Firm: A Checklist: From the Law Society of British Columbia

Retirement

• ABA Members Retirement Program: The ABA can provide one of various retirement plans for you, no matter what kind of firm you practice in. This State Bar-endorsed program provides 401(K) plans for law firms.
• Long-Term Care Insurance: Learn about getting discounts on your long-term care insurance through the State Bar.
• Retirement - IRA Plans (Oppenheimer Funds): If you are interested in contributing to an Individual Retirement Account (IRA), the State Bar through a special arrangement with Oppenheimer Funds, has arranged for its members and their employees to purchase class N Shares of various Oppenheimer Funds.

Disability

• Disability Insurance for Lawyers: This ABA article discusses issues to consider when choosing disability insurance.
• Long-Term Disability Insurance: Learn about getting discounts on your long-term disability insurance through the State Bar.
• After All, You Are Only Human: Handbook provided by the State Bar's Solo, Small Firm & General Practice Section to assist lawyers with planning for disability and death including sample forms and provisions.

Succession planning

• Successor Attorney Online Registry: Designate another Wisconsin-licensed attorney to be as successor​.
• Succession Information Request Form: Request listed successor information from the State Bar of Wisconsin Registry.
• After All, You Are Only Human: Handbook provided by the State Bar's Solo, Small Firm & General Practice Section to assist lawyers with planning for disability and death including sample forms and provisions.
  
• Succession Resources​: Information and instructions about the Succession Planning Registry and succession planning in general.
  

 

Materials and links on these pages are intended to provide only guidance and are not legal authority. Some information is from jurisdictions other than Wisconsin and references the law of other jurisdictions. Lawyers using these materials must conform their practices to the law of the appropriate jurisdiction.

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