As James A. Rapp reminds us in his September Illinois Bar Journal article, “Hello, Goodbye … Planning for Retirement Success,” about one in eight lawyers is 65 years old or older, which means facing the challenge of succession planning is here for many lawyers and firms. Rapp suggests that lawyers and firms should consider what experiences—good and bad—they have had within the firm and with other lawyers or firms when lawyers retire and recommends that lawyers and firms develop a perspective consistent with the interests of the lawyer involved, the firm, and most importantly, the firm’s clients.

As the Illinois Supreme Court has emphasized, the “practice of law is a profession, not merely a business.” This requires thoughtful and advanced planning, for which Rapp continues by laying the groundwork for first steps. 

Read the September IBJ article, "Hello, Goodbye … Planning for Retirement Success."