Question:
I am the sole owner of a five lawyer business transactional law firm in Cincinnati, Ohio. I am sixty-seven and hoping to retire in the next three to five years. Besides myself there are two non-equity partners and two
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.
Question:
I am the sole owner of a five lawyer business transactional law firm in Cincinnati, Ohio. I am sixty-seven and hoping to retire in the next three to five years. Besides myself there are two non-equity partners and two…
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Our firm is a six lawyer firm in ChicagoLand that specializes in the areas of estate planning, estate and trust administration, and elder law. Four of the six lawyers in the firm are equity partners and two are associates.…
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I am a partner with two other partners in an estate planning firm in Seattle, Washington. All three of us are in our late sixties and contemplating retirement in the next few years. We have no associates in our…
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I am the sole owner of an estate planning firm in the San Francisco Bay Area. We have one branch office and are contemplating acquiring another practice that would give us a third office. We have a total of…
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I am an estate planning attorney in Chicago. I am currently 72 and have been in practice and owned my own firm for 45 years. In the past I had an associate attorney in the firm and a couple…
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I am sole owner of a law firm in San Rafael, California with an estate planning practice. I have two part-time attorneys, four paralegals and three legal assistants. I am in my late 70s and want to retire in…
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We are a group of six partners that are in the process of leaving a well established firm in Los Angeles, California and will be starting our own firm. In our early planning we have been discussing how we…
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I am a sole owner of a three attorney firm in Chicago suburbs. I am sixty-five and have two associates in the firm. We do estate planning, elder law, and estate administration exclusively. While I want to continue working…
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I am one of three founding partners in a 17 lawyer insurance defense firm in Houston. We have a total of 18 lawyers in the firm – 3 founding equity partners, 4 other equity partners, 5 non-equity partners, and…
Question:
Our firm is a 17 attorney insurance defense firm in Cincinnati, Ohio. We are in first generation and we have 9 equity partners, 3 non-equity partners, and 5 associates. We are managed by a three member executive committee and…