Articles

Top 10 Practice Exit Planning Mistakes

If you are considering exiting your law practice in the next few years make sure to plan ahead and avoid these costly mistakes. 1. Failing to Consider All Your Options – […]

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The Financials of a Law Practice Value Determination Explained

Many – not all, but many – deals turn on the purchase price. The rest can typically be worked out if the purchase price is agreed upon. Obtaining an accurate […]

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‘I’m Thinking of a Number Between 1 and…’ What’s Your Law Practice’s Valuation Number?

Every Law Practice Has A Quantifiable And Marketable Value Of Its Own As seen in Lawyers Mutual: Put Into Practice August 2015 Issue My law practice has value? Seriously? Seriously. […]

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5 Things to Consider Before Buying a Law Practice

5 Things to Consider Before Buying a Law Practice If you have been considering the benefits of buying a law practice in order to expand or grow your client base, […]

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Can You Really Buy or Sell a Law Practice?

Can You Really Buy or Sell a Law Practice? Have you ever thought about your exit plan from your practice? Retirement, family demands, a new career, or some other career […]

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Estate Planning for the Small Firm Partner or Solo Practitioner

Time to Plan! Estate Planning for the Small Firm Partner or Solo Practitioner The fundamental principal of estate planning is to anticipate and prepare for the major life events, particularly, […]

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LPE Approved As A BBP Industry Expert

The Law Practice Exchange, LLC is pleased to announce that we have been approaved as a BBP Industry Expert for the industry of Law Practices/Legal! We will be included in […]

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4 Key Considerations to Buying a Law Practice

Where to start? If you are considering buying an existing law practice or buying out a retiring partner in your own practice, here are some key items to consider:  1. […]

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3 Simple Questions to Ask Before Any Law Practice Purchase

When deciding whether to purchase a law practice, either for you as an individual or for your firm, always ask the question, “Is this part of the strategic plan?” A strategic acquisition always makes […]

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Don’t Have a Succession Plan? Consider Selling.

Why Selling Your Law Practice May Be The Key To A Successful Succession Plan An attorney unexpectedly passed away at an early age. What’s next? What happens to his or […]

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The Time To Sell Is Now!

Are You Hoping to Sell Your Law Practice? The Time To Sell Is Now! It is estimated that over 50% of law practice owners are from the Baby Boomer generation. […]

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Financial Questions You Need To Answer Before Leaving Your Law Practice

Financial Questions You Need To Answer Before Leaving Your Law Practice You have spent your entire career building a great law practice. It’s now time for you to start thinking […]

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Want to Sell Your Law Practice? Waiting Too Long Can Be Costly.

Recently, I had a meeting with an attorney who had a great litigation practice. Over the last 30 plus years, he had worked hard, done the right things and built a […]

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Excuses Attorneys Use to Avoid Exit Planning

Like every person and business owner, you will one day exit your law practice. That day doesn’t have to be today, but whether voluntarily through transition and retirement or involuntarily […]

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ARE YOU PREPARED FOR THE FUTURE?

As attorneys, we are called on from time to time to advise and advocate for clients’ needs while also anticipating items they may not be thinking about on the road ahead […]

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Rewards and Risks of Buying a Law Practice

Buying a law practice isn’t something that is commonly discussed, but if you haven’t considered the financial and professional opportunities that may come with purchasing a law practice it may […]

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Acquiring a Law Firm May Be Smarter Than Starting From Scratch

Purchasing an existing law firm may be ideal if you are looking to grow your existing practice or law firm or if you are an in-house or a lateral looking […]

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Looking for Law Firm Growth? Consider Buying a Law Practice.

Purchasing an existing law firm may be ideal if you are looking to grow your existing practice or law firm, or if you are an in-house or a lateral looking […]

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Taking Control of Your Professional Retirement

Taking Control of Your Professional Retirement. As lawyers, we like planning ahead of time. It allows us to try and control how things will go for our clients and get […]

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Should I Buy or Start a Law Practice?

Law Practice Startup or Acquisition? Attorneys today are looking at more options for practice growth and expansion than ever before. Due to continually increasing challenges in the legal profession and […]

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What Does Buying a Law Firm Mean?

What does buying a law practice really mean? The marketplace for selling and buying a law practice is still young as compared to some of the other professional business marketplaces […]

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7 Factors That Affect Your Law Firm Value

7 Factors That Affect Your Law Firm Value. If you have read up or experienced the valuation process you already know that there are factors that affect your law firm […]

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Transition or Exit from Your Law Practice?

Considering a Transition or Exit from Your Law Practice? Prepare and Proceed With the Right Team in Place A law practice is a complex business with many differing and dissimilar […]

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Your Law Practice Has Value Upon Exit

Every Law Practice Has A Quantifiable And Marketable Value. Like any other business, each law practice has a different and marketable value of its own. You have built and managed […]

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3 Questions to Ask Employees

The 3 Questions to Ask Employees During a Law Practice Ownership Transition. The foundation of a good transition plan is open communication. Start by meeting with each of the employees […]

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Four (4) Law Practice Deal Roadblocks to Avoid

During a law practice deal, there are four deal roadblocks to avoid. 1. Financials –If you are a practice owner and don’t have financials that are in good form and […]

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Handling Client Transition When Selling

Practically speaking, handling client transition when selling includes and means selling and transferring your clients. There are several things to do and considerations to take into account.  Here is a list […]

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How to Break ‘THE’ Big News

How to Break ‘THE’ Big News About the changes in  Your Law Practice? If you are considering selling or another exit from your law practice keeping it quiet is the key. […]

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Taking The Fear Out of The ‘R’ Word

Dear Lawyers, It’s Time to Take The Fear Out of The ‘R’ Word. There are so many reasons that some attorneys approaching retirement decide to postpone any decision. Instead, focus […]

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The Feared 10 Letter Word for Lawyers: Retirement

The Feared 10 Letter Word: Retirement. Tips to Ease The Lawyer Retirement Transition. The day is drawing near, and you are preparing to be a retired attorney. You may have […]

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Things to Remember When Selling

Specific Things to Remember When Selling Your Law Practice. While many different considerations are leading up, during, and after the sale process, here are a few to which you should […]

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Law Practice Sale Tips

Law Practice Sale Tips: Check the Checklist off the Checklist. As most (probably all) legal practitioners know, a good checklist is a lifesaver when it comes to completing legal matters. […]

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Six Steps to Prepare Your Practice for Sale

Six Steps to Prepare Your Practice for Sale So you’re ready to sell your law practice. That’s great! Selling your law practice can be an excellent way to realize the […]

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