selling a law practice

Two Critical Misconceptions about Internal Law Firm Transfers

Selling A Business [Videos] / Ed Alexander

I like to think that lawyers are generally an intelligent group. Like doctors, they know their areas of expertise inside and out. This intelligence can occasionally have an unfortunate after-effect, though, wherein some lawyers get overconfident about their skills in areas outside of their knowledge base. In the 26 years I’ve spent facilitating business sales, […]

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How It Works: The Internal Law Firm Transfer

Selling A Business [Videos] / Ed Alexander

If you’re a small firm owner or solo practitioner in your 50s or 60s, the time to plan your exit strategy is now. Every day you wait to start the process, is another lost opportunity to cash in on your biggest investment. One succession strategy available is the internal transfer. Many attorneys, in fact, believe

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Interview with Julianne Frank on Selling Her Law Firm

Selling A Business / Ed Alexander

Julianna Frank is a business and consumer bankruptcy lawyer out of Jupiter, Florida. We first met at the NACBA conference in Cleveland. But, as you will hear in the interview below, we crossed paths again at the 2019 Florida Bar Conference where I gave a presentation to the Senior Lawyers Committee on practical and ethical

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The Right and Wrong Exit Strategy for Your Law Firm

Selling A Business [Videos] / Ed Alexander

The lawyer population is aging. In 2005, 34% of lawyers were over the age of 55, and that number will continue to rise. We may even be witnessing a legal “senior tsunami.” What this translates into is a huge number of lawyers that will be transitioning out of their law practices in the near future.

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Can You Sell Your Law Firm?

Selling A Business [Videos] / Ed Alexander

There is an insidious misunderstanding that I hear from attorneys, which leads far too many in our field to lose out on capitalizing on the years of hard work they’ve spent building up their firms. Despite what rumors, gossip, or “veteran advice” you hear, you are absolutely allowed to sell your law firm! In 1990,

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3 Reasons You Should Tell Your Employees You’re Planning to Sell Your Law Firm

Selling A Business / Ed Alexander

As a solo or small firm lawyer, you have a unique position in life. Despite what you might think, you aren’t just a lawyer: You are also a small business owner! And as a small business owner it’s very likely that you have employees who depend on you and your business for their livelihoods. If your firm

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What You Need to Know about the Florida Bar Rules before Selling Your Law Practice

Selling A Business / Ed Alexander

If you are a solo practitioner or a small firm lawyer, a serious discussion about succession planning should be in your future. Be aware that there are only four ways that you can leave your firm, and only two of those paths are profitable. (Read more about the external sale or the internal sale.) The first

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Is an Internal Sale Right for My Law Firm?

Leave a Comment / Selling A Business / Ed Alexander

If you are a solo practitioner or a small firm lawyer, a serious discussion about succession planning should be in your future at some point. But according to recent ABA demographic data, this discussion is coming quicker for an increasingly large portion of the lawyer population. Data released in 2005 show that 34% of lawyers

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Why Close Down Your Law Firm When You Can Cash Out?

Leave a Comment / Selling A Business / Ed Alexander

Americans are living longer, and US population as a whole is growing older. By 2030, roughly 20% of the US population will be 65+. People are also working longer, often well past traditional retirement age. Lawyers are no exception to this general trend, and, in fact, may be even more likely to work into their

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Two Critical Misconceptions about Internal Law Firm Transfers

How It Works: The Internal Law Firm Transfer

Interview with Julianne Frank on Selling Her Law Firm

The Right and Wrong Exit Strategy for Your Law Firm

Can You Sell Your Law Firm?

3 Reasons You Should Tell Your Employees You’re Planning to Sell Your Law Firm

What You Need to Know about the Florida Bar Rules before Selling Your Law Practice

Is an Internal Sale Right for My Law Firm?

Why Close Down Your Law Firm When You Can Cash Out?

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