Exit Strategy: Selling & Other Strategies to Leave the Practice of Law

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Life After Law: What Will You Do with the Next 6,000 Days?

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One book/3 DVD Package:

Exit Strategy: Selling & Other Strategies to Leave the Practice of Law

By Edward Poll

3 DVD Set

Exit Strategy: Selling & Other Strategies to Leave the Practice of Law reveals insider information that is sure to go a long way to help achieve optimal results while transitioning out of the practice of law. Throughout this 3-DVD set, presented by Ed Poll, JD, MBA, CMC, viewers will learn about valuing and pricing a firm, marketing its sale, and other post-sale considerations.


Life After Law: What Will You Do with the Next 6,000 Days?

By Edward Poll

(7"x9", 225 pages, soft cover, ISBN 978-0-9797610-7-2, Published by LawBiz® Management, Co., 2013)

Ed Poll has had the experience of starting, running, and exiting the practice of law to transition to a new life. In Life After Law, he gives lawyers critical advice on how to move into their "second season" successfully.

With an eye on balancing the professional and personal fronts, Ed guides readers through steps, such as

  • Choosing retirement on their own terms
  • Guarding clients' welfare in the event of disability or death
  • Transferring client and rainmaking responsibilities
  • Charting an exit from a multi-partner firm
  • Strategizing the sale or closure of a practice

Plus, you'll find essential counsel on how to guard your retirement nest egg and create a fulfilling post-practice life!


        1 Book/3 DVDs: $199.00

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"Whether you have spent decades in the legal profession, or entered it as a second or even third career, transitioning out of a law practice takes a good deal of thought and action. This book gives lawyers a road map to take the next steps, with stops along the way that we can consider as well. Life After Law fills a gap in career advice literature by telling lawyers what is necessary and advisable to personally and professionally transition out of the practice. It is essential information for all generations of lawyers."

– Avarita L. Hanson, Executive Director, Chief Justice's Commission on Professionalism, Georgia Bar

"Ed Poll's Life After Law provides cogent and thoughtful insights into strategies for transitioning to a new phase after completing a career in practicing law. It is a vital resource for anyone who is planning for retirement, with enlightening reflections on winding down the practice and preparing for the future. It should be read by all attorneys, even those not necessarily thinking of retirement, as there is valuable information on preparing for the unforeseen events that can incapacitate an attorney's ability to manage his or her practice."

– Murray B. Greenberg, President, National Organization of Bar Counsel

Chapter 1: Preparing to Transition into Your Life's Second Season
- The Cycle of a Law Practice
- The Aging of the Profession: Transition Issues
- Balancing the Personal and Professional in Your Approach
- Knowing the right Questions

Chapter 2: Before You Enter the "Red Zone": Choosing Retirement on Your Terms
- Take a Good Look Before You Leap: The Emotional Component
- Lessons in Slowing Down: A Family Story
- Contrasting Paths: Knowing When It's Enough for You
- Knowing When to Hold 'Em and When to Fold 'Em

Chapter 3: Preparing for the Unexpected: Ethical Consequences of Lacking a Succession Plan
- Guarding Clients' Welfare in the Event of Disability or Death
- More Stories of the Perils That Arise
- The Prudent Strategy: An "Estate Plan" for the Practice
- So Who Will Step In at the Needed Time?

Chapter 4: Charting an Exit from a Multi-Partner Firm
- The Crucial Role of the Partnership Agreement
- What to Do If There Is No Partnership Agreement
- Compensation for Phaseout Periods
- An Additional Issue: The Pension Fund
- Larger Firm Issues: Yesterday and Today
- Thoughts on Leadership Transitions

Chapter 5: Transferring Clients and Rainmaking Know-How to the Next Generation
- Preparing to Transfer Your Client Relationships
- Tactics for an Organized Transfer Process
- Teaching Rainmaking to the Younger Lawyer: "Learn by Doing"
- SMART Relationship Development Plans
- Additional Strategies for Larger Firms
- In With the New, While Recognizing the Older

Chapter 6: Strategizing a Sale for Your Law Practice: Ethics Issues
- The Ability to Sell Under Model Rule 1.17
- Key Ethics Points
- The Bottom Line: Clients' Interests

Chapter 7: The Business End of Selling a Law Practice: Value and Salability
- The Role of Appraisal Figure vs. Sale Price
- Goodwill as a Valuation Factor
- Valuation and Price: Fixed Sum Approach
- Knowing the Pool of Prospective Buyers
- Caveats About the Negotiations
- Mapping Out the Stages

Chapter 8: Shutting a Practice's Doors: How-tos for Closing Up Shop
- Prepare to Exercise Patience and Planning Skills
- Calculating the Closing's Timeline
- Announcing Your Plans to Close: Inside and Outside the Firm
- Notifying Staff
- Notifying Clients
- Notifying Other Parties
- Seeking Publicity
- Ending Relationships with Employees
- Other Professional and Ethics Considerations in Closing the Practice
- Additional Closing Responsibilities as a Business Owner
- Moving Your Property Out of the Office
- Refining Your Timeline for a Smooth Wrap-up

Chapter 9: Personal Finance Issues: Planning Your Path to Financial Security
- What Color Is Your "Second Half" Parachute?
- Measuring and Managing Insurable Risks
- Estate Planning: It's Not Just for Death and Taxes
- So How Much Is Enough?
- Investment Considerations: Dealing with Risk Capacity
- Lessons from the Recent Market
- Making Wealth Management Ongoing

Chapter 10: Advice for Creating a Fulfilling Post-Practice Life
- First Things First: Assessing Where Things Stand Now
- Switching to a Different Career
- Embarking on an Entrepreneurial Endeavor
- What to Do If You Retire Completely
- Giving Back to the Profession

Chapter 11: Ready, Set, Go: A Five-Phase Action Plan to Guide Your Transition
- Phase I: Decide
- Phase II: Prepare
- Phase III: Create
- Phase IV: Implement
- Phase V: Exit


- Appendix I: Succession Planning Survey Results
- Appendix II: Sample Agreement to Have Another Attorney Close the Practice
- Appendix III: Sample Letter to Clients from a Selling Attorney Advising of the Practice's Sale
- Appendix IV: Sample Letter to Clients from a Selling Attorney Advising of the Practice's Sale
- Appendix V: Sample Press Release Announcing Sale of Law Practice
- Appendix VI: Sample Letter to Clients Advising of a Law Office's Closing
- Appendix VII: Timeline for Closing Your Law Practice
- Appendix VIII: Sample Press Release Announcing Closing of Law Practice
- Appendix IX: Sample Client Authorization for Transfer of File
- Appendix X: Sample Client Request to Obtain Client File

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