Question:
I am the owner of a small estate planning firm in Columbus, Ohio. Besides myself there are two associates working in the firm. I am 67 and the associates are in their early-fifties. I am planning on retiring in
Law Practice Management Asked and Answered Blog
The Law Practice Management Asked and Answered Blog, published by Olmstead & Associates, focuses on practical issues related to managing and operating law firms. It covers topics such as law firm governance and management structures, succession and exit planning, partner compensation, client transition strategies, and business development within law firms. The blog addresses challenges faced by solo practitioners, small firms, and larger partnerships, including leadership roles, administrative delegation, and financial management. It also discusses strategies for selling or acquiring law practices, mentoring associates, and maintaining firm continuity during transitions. The content is aimed at managing partners, firm administrators, and attorneys involved in law firm management and strategic planning.
Latest from Law Practice Management Asked and Answered Blog - Page 2
Non-Lawyer Ownership and Investment in Personal Injury Plaintiff Law Firms
Question:
I am a partner in a six-lawyer plaintiff personal injury firm in Indianapolis, Indiana. There are three equity partners and three associates in the firm. We are in our 20th year of practice. The equity partners are in their…
Law Firm Management Structure for a Small Insurance Defense Law Firm
Question:
I am a partner in a eighteen – lawyer insurance defense firm in Houston, Texas. There are ten equity partners and eight associates in the firm as well as an office manager/bookkeeper and six other paralegals/legal assistants. We started…
Law Firm Owner’s Transition and Exit Strategies – Clients and Management Roles
Question:
I am the sole owner of a 20 lawyer litigation firm in Chicago. There are five seasoned non-equity partners and fourteen associates in the firm. I am 63 and trying to figure out what to do with the practice.…
Law Firm Leadership – Midsize & Smaller Firms
Question:
I am a partner in a 30 lawyers insurance defense firm in Phoenix, Arizona. We have 7 equity partners, 10 non-equity partners, and 13 associates. We represent insureds through insurance companies that are our clients and pay our bills.…
Law Firm Succession and Exit Planning – Merger Option for Small Firms
Question:
Our firm is a two partner general practice firm in Akron, Ohio. I am 70 and my partner is 68 and contemplating retirement in the next few years. There are no other lawyers in the firm. We have two…
Law Firm Associate Compensation and Bonuses – Salaries & Fee Production
Question:
I am a partner in a five lawyer firm in Columbus, Ohio. There are two partners in the firm and four associates. Our practice specializes in corporate business law and is one hundred percent transactional. We do not do…
Law Firm Leadership – Responsibility of the Partners
Question:
Our firm is a 14 lawyer firm in St. Louis, Missouri that focuses on small businesses – both transactional and litigation matters. There are eight equity partners, two non-equity partners, and four associates in the firm. We are managed…
Law Firm Partnership – Bringing in a Partner – Issues to Consider
Question:
I am the founder and owner of a business law firm in San Diego, California. There are 9 associates, four paralegals, and three administrative staff members working in the firm. I founded the practice 20 years ago and I…
Law Firm Administrator and Firm Size
Question:
I am the owner of a three attorney law firm in Rockford, Illinois. While we do a lot of business litigation we are primary a general practice firm that serves individual clients. There are two associates in the firm…