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Do You Have a Contingency Plan?

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There’s no time like the present to think about your contingency plan.

Sometimes, it’s hard to write a succession plan because you don’t like to think about being dead or disabled. However, it is imperativechanging and something all lawyers can do per Law Practice.orgManaging Law Firm Transition and Rule 1.19 of the S.C. Rules of Professional Conduct.

At a minimum, write a letter to your paralegal or the attorney who would mind your office explaining to them what they would need to know if you were outside of service on a long vacation. Then, make an emergency plan should you become disabled, incapacitated or not able to act inside your practice again. Print the Preparation Checklist to plan accordingly. Fill out this form to add your successor(s) to the registry maintained by the Bar. Finally, use this Agreement to Close a Law Practice as a model agreement between you and your successor(s).

There’s no better time to plan than now!

If you have questions or would like more information on succession planning, contact the Practice Management Assistance Program.

via @SCBar_PMAP

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