Mar 7, 2021
With aging baby boomer in their senior ranks, 100s of law firms throughout the country are facing succession planning issues. How can the firm make a successful transition and ensure the long-term viability of their practice? How will the younger partners step into the role of managing client relationships so the clients are well served in the future?
Underpinning all of this is a reality for many firms. Lawyers are living longer, practicing longer, and have very strong professional identities as lawyers. What will these attorneys do when they are no longer chairing a department? What are some of the creative strategies that lawyers have used to figure out What Comes Next.
My guest, Bill Lahey, has thought a lot about that subject. Bill began his career in the public sector, worked for one large firm, one small firm and over 4 years, cut his hours by 20% per year and is not entirely out of the practice of law. Along the way, Bill has experimented with pro bono work, taken a sabbatical in Bhutan, and explored graduate degrees in two fields. He is anything but a “typical lawyer” and I invited him on the show to share some tips for senior lawyers who aren’t sure how to make their own transitions.