You still have gas in the tank. Your clients still rely on you for your legal advice and expertise. However, your current law firm has a mandatory retirement provision in the partnership agreement. The day has come where the policy impacts you. Or your firm does not have mandatory retirement policy but has decided to limit its support of you. Either way, your time is up at your current law firm. Are there options for lawyers not ready for retirement?
From my perspective, there are many options if you can meet the following criteria:
- You are still motivated and ambitious.
- You have a portable book of business and strong client relationships.
- You are agreeable to eventual succession planning.
Having negotiated multiple offers for senior partners in the same boat, I say with certainty – yes, there are law firms that will consider you. The good news is that these law firms get it. They understand what it takes to make it successful for both you and the firm.
Specifically, these firms will work with you to smoothly pass along client relationships to the next generation. The transition happens with your input and leadership. At the end of the day, you get to practice and do what you love to do. The client remains in your capable hands until all are comfortable with a new attorney. And the firm grows and maintains its client base while grooming future leaders. It is a winning formula all around.
You have spent decades building your practice. You should be able to retire on your terms. If your current firm does not support this concept, there are options for lawyers not ready for retirement. Let’s talk about your situation and keep you in the game.
