Law firm transitions can be accomplished through closure or sale. Causes include bankruptcy, death, disability, disagreements, and retirement. Regardless of cause, transitions are a complicated process that requires careful planning. Below are transition tips followed by resources for implementing them. Contact your local bar association for help from its management advisory service.
Billing - Establish procedure for billing work in progress and transferring cases
Insuring - continue malpractice insurance coverage
Planning - Prepare a detailed plan that sets a closing date assigns responsibility
Terminating - negotiate termination and/or transfer of cases; contact other lawyers about accepting cases