Best Practice: Law firm partnership - The importance of compatibility and good fit
Asked and Answered
By John W. Olmstead, MBA, Ph.D, CMC
Q. I am the sole owner of an estate planning firm in Evansville, Indiana. I have three associates that work for me and four staff members. I am 64 and wanting to get started on a succession program - either by forming a partnership with one or more of the associates or with another attorney or attorneys that I might bring into the firm via merger. I have always been on my own so I am a little cautious. I do want to work another eight years or so. What pitfalls should I be looking out for?