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Buying or Selling a Law Practice (2014) (2.0 MCLE credits)

Buying or Selling a Law Practice (2014) (2.0 MCLE credits)

2.0 Credits in Law Practice Management


Overall Planning Chair

Nat Wasserstein, JD, MBA, CFE, Lindenwood Associates, LLC

Speakers

Deborah Scalise, Esq., Scalise & Hamilton, LLP

Robert L. Ostertag, Esq., Ostertag O’Leary Barrett & Faulkner

Howard Fielstein CPA/ABV/CFF, CFE, CIRA, CTP, ASA, CitrinCooperman

Jennifer C. Friedman, Esq., Pace Law School, Public Interest Law Center

Program Agenda and Topics

Winding up a Law Firm

– No Reason to Die at Our Desks
– Your Clients’ Interests
– Designating an Assisting/Closing Attorney
– OCA Oversight/Administrative Board
– Trust Accounts
– Should You Plan for Your Death
– Liability, Asset (What is your Law Practice?)

Buyers and Sellers

– Motivation (Voluntary or Involuntary?)
– Ethical Concerns for Both Sides
– Duty of Competency
– Secrets and Confidences
– Due Diligence
– Conflicts
– Non-Competes (must be reasonable)
– Notification
– Caveat Emptor
– Client Transition Plan

Valuing a Law Firm 

– Book value, Market Value, and Goodwill
– Problem with Comparable Sales
– Rules of Thumb – there is none
– Taxonomy Problem
– Practice v. Professional Goodwill
– Cash-Flow and Client Retention

Going Solo: Starting Up or Buying In?

– Law Firm Incubators
– Residency for Law School Grads
– Mentor/Mentee
– Practice Transition Opportunities
– Sample Deal

Total Credits: 2.00 | Law Practice Management: 2.00

Format:
  • Online On-Demand
Product Code:
  • VDT47
Law Practice Management Credit(s):
  • 2.0
Total Credit(s):
  • 2.0

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