Category: Law Office Management
, Ethics / Professionalism
, Financial Planning
, General Practice
, Law Firm Employment
, Legal Support Staff Programs
, Paralegal Programs
, Practice Enrichment
, Practice Management (show less)
8:30 A.M. Registration & Coffee
8:55 A.M. Welcome & Course Objectives
- Donald R. Hopper, Program Chair
9:00 A.M. Laying the Groundwork: Preparing for Succession Planning and Retirement
- Donald R. Hopper, Moderator; Aline F. Anderson, Jason Gray,
Jeffrey B. Kolb, Kameron H. McQuay, John M. O'Drobinak,
Ted A. Waggoner, Gordon D. Wishard
- Factors that motivate law practice succession planning
- Developing a plan
- Considerations for the 1-2 attorney office
- Challenges faced by the smaller firm in developing a succession plan
- Considerations / Characteristics to look for in an attorney to take over your practice
- Considerations for a law practice in a smaller community
- Considerations for a law practice in a larger / more urban community
- Determining the value of a law practice
- Practical considerations when contemplating retiring from the practice of law
- Preparing Your clients for your retirement
- Preparing your firm for your retirement
10:30 A.M. Coffee Break
10:45 A.M. Law Practice Succession Planning
- Donald R. Hopper
- What is law practice succession planning?
- Why is law practice succession planning needed?
- What are the driving forces in law practice succession planning?
- What are the restraining forces in law practice succession planning?
- What options do you have?
- Developing a succession plan for your practice
- What to plan for in the event of you becoming disabled
- Essential legal documents in law practice succession planning
- Letter of intent (LOI)
- Buy/Sell contractual agreement
12:15 P.M. Lunch Break
1:15 P.M. Valuation of Law Practices
- Kameron H. McQuay, CPA/ABV, CVA
- Does your law practice have any value?
- What factors need to be considered when valuing a law practice?
2:15 P.M. Ethical Issues in Law Practice Succession Planning
- Ted A. Waggoner
- What ethical issues are involved in law practice succession planning?
- What specific Rules of Professional Conduct have an impact on law practice succession planning?
- What are the ethical requirements of Rule 1.17 of the Rules of Professional Conduct regarding the sale of a law practice?
- How does Rule 23 of the Indiana Rules for Admission to the Bar and the Discipline of Attorneys address the issues of attorney disability and attorney surrogates?
3:15 P.M. Refreshment Break
3:30 P.M. Financial Planning for Retirement
- Warren Ward, CFP
- How much do you need when you retire?
- Basics of Social Security, Medicare, Medicare Advantage/Supplement Insurance and Long-Term Health Insurance
- Retirement planning – IRAs, 401(k)s, investments
4:30 P.M. Adjourn
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