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Law Firm Succession Planning

Mandatory Retirement Creates Succession Planning Problems For Top Law Firms

By March 23, 2019No Comments

With baby boomers pushing past 65, mandatory retirement policies are becoming more troublesome for firms without strong succession plans. Roughly half of Am Law 200 firms have some mandatory retirement policy. Not all stipulate retirement at 65, most range roughly from 63-68, with different protocols as to how to deal with retiring attorneys. Some firms will transition partners into counsel positions where they can practice while transferring their clients and work to a younger attorney, and others broach the topic of the impending retirement a year or two in advance to ease the partner’s transition out of the law firm. Read More