Question:
I am the owner of an estate planning firm in the Western Chicago suburbs. My practice is a specialized practice that focuses on estate planning, estate administration, estate litigation, and elder law. While I was a solo practitioner for
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 9
How to Handle the Messaging and Public Relations When a Law Firm Partner Leaves
Question:
Our firm is a twelve attorney litigation defense firm in Phoenix, Arizona. We have eight partners in the firm and I am a member of our executive committee. Yesterday at a partner meeting we were advised by four partners…
Succession-Exit Options for Law Firm Solos
Question:
I am a solo real estate practitioner in Long Beach, California. I have one paralegal that works in the firm. I am 70 years old a would like to retire in the next couple of years. What are my…
Do You Have “Stars” in Your Partner Ranks?
Question:
Our firm is a second generation insurance defense firm in Bakersfield, California. We have fourteen lawyers, nine of which are partners. While all of the partners are great trial lawyers, work hard, and bill the required lawyers none of…
Merger vs Transitioning Our Firm to Our Associates
Question:
I am one of three founding partners in a twelve attorney insurance defense firm in New Orleans. The three of us are in our early sixties and contemplating retirement in the next several years. The three of us have…
Law Firm Strategic Planning in a One Day Planning Retreat
Question:
Our firm is a twenty-attorney litigation firm in Miami, Florida. We are managed by a three-member management committee supported by a firm administrator. While our committee and our firm administrator are entrusted to make many of the operational decisions,…
Listening to Law Firm Clients – Number One Marketing Initiative for Institutional Clients
Question:
Our firm is a sixteen attorney insurance defense in Louisville, Kentucky. We represent approximately twenty-five insurance companies in property casualty and personal injury cases. We handle products liability and medical malpractice cases as well. Our firm is in second…
Care and Feeding Associate Attorneys
Question:
I am the owner of a law firm in Chicago suburbs that specializes in estate planning. I started the firm twelve years ago. Over the years the firm has grown from just myself as a solo to a firm…
Law Firm Succession – Pros and Cons of Hiring an Associate as My Succession Plan
Question:
I am a sole practitioner in San Diego, California. My practice is mostly general practice with some emphasis on commercial real estate. I am 64 years old and am looking for a way to transition and exit my practice…
Law Firm Operating Metrics and Statistics
Question:
I am the newly elected managing partner in our twelve-attorney firm in Chicago, Illinois. Our firm is a business transaction firm that was started by the present four partners ten years ago. While we have an office manager that…