Question:
I am the sole owner of an estate planning firm in San Francisco Bay area. I have four full-time associates, six paralegals, two secretaries, a firm administrator, and four other staff members. We are a high volume operation and
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 8
Associate Performance and Coaching
Question:
I am a partner in a three attorney law firm based in Orlando, Florida. I did a quick Google Search this morning and stumbled upon your excellent blog posting – Associate Attorney Compensation. John did an excellent job in…
Law Firm Partner Compensation and Performance Reviews
Question:
Our firm is a fourteen partner firm in the northern suburbs of Chicago with ten partners and four associates. We are a general practice firm with different partners focusing on specific practice areas. Our partner’s compensation is determined by…
Law Firm Management – What Will Be Keeping Owners and Managing Partner Awake at Night in 2020
Question:
I am the owner of a twelve attorney business litigation law firm in Northern, California. I started the firm fourteen years ago after practicing ten years in a large law firm. While the practice has been fulfilling both professionally…
Law Firm Financial Management – Financial Red Flags
Question:
Our firm is a twelve lawyer firm in Chicago and our practice is a business litigation firm. We have eight partners in the firm and we are managed by a three-member management committee that was just formed this year.…
Law Firm Contingency/Practice Continuation Succession Plan for a Solo Attorney
Question:
I am an attorney in solo practice in the Southwest Missouri. I am forty five years old and I have two paralegals working for me in the firm. The practice is a general practice firm that I started ten…
Law Firm Contingency/Practice Continuation Succession Plan for a Solo Attorney
Question:
I am an attorney in solo practice in the Southwest Missouri. I am forty five years old and I have two paralegals working for me in the firm. The practice is a general practice firm that I started ten…
Partner Compensation in Law Firms – Objective vs Subjective Approaches
Question:
Our firm is at a crossroads concerning partner compensation. We are a twelve lawyer firm in Richmond, Virginia with nine partners and three associates. We are in our second generation of partners as the original founders have retired over…
Law Firm Financial Management – Creating a Budget the First Time
Question:
I am the firm administrator for an eight attorney firm in Nashville, Tennessee. I started this position approximately six weeks ago. While I have worked in the legal field for many years as a paralegal, this is my first…
Associate Attorney Compensation – Incentives Beyond Billable Hours and Working Attorney Collections
Question:
I am the owner of a five attorney firm, myself and four associates, in Bakersfield, California. While we are a general practice firm, much of our practice is focused on commercial real estate, estate planning/probate, and corporate/business law. All…