Law Firm Succession Planning

Georgia Succession Planning Lawyers

As it stands, aging individuals are at an increased risk of declining physically and mentally. Moreover, given that no one can predict the future, people are not immune to an unexpected medical calamity or personal crisis on the job or at home. The same is true for lawyers, as they face unplanned events and unforeseeable challenges that render them temporarily or permanently unable to continue in the practice of law. With this in mind—creating an effective succession plan is crucial to help protect a lawyer’s clients and their hard-earned reputation, as well as their family members and loved ones.

As competent professionals, lawyers are entrusted to confidential information and property relating to their clients. In a very real sense, clients trust lawyers with their future. Thus, imagine that an attorney enters a hospital for a routine surgery, and is forced to remain there for an extended amount of time. What will happen in the event that the lawyer dies?

Will a designated attorney or successor have access to his or her client list or calendar? Will important notifications be made? Will deadlines be tracked efficiently? Will someone be able to locate operating and trust bank accounts and records? Suppose the lawyer was a sole practitioner. Will someone be able to ensure that staff is paid in his absence, and that office bills are covered?

As Georgia Succession Planning Lawyers, Harman Law Firm helps law firms establish a respectful plan for a seamless transition when it comes to an unexpected crisis, disability, impairment or death. What’s more, as many wrap their minds around the baby boomer retirement wave, our lawyers help devise a viable succession plan detailing partner responsibilities and leadership roles for the next generation of lawyers.

What Happens When A Parent Or Spouse Is A Lawyer, And They Unexpectedly Die?

Though complicated and time-consuming, a succession plan is a gift to clients with no plan B, as well as staff members and personnel that have dedicated their time to a firm. Yet, a suitable transition plan is equally important for family members, as they are left scrambling to make sense of the lawyer’s practice while facing enormous personal stress. As such, spouses and children can avoid the onslaught of calls and messages from worried clients and courts demanding an update on the status of certain matters.

Akin to creating a settlement of one’s own estate, providing written instructions for family members with details on how to access pertinent information is important. Ideally, family members, the designated attorney and office staff will work cohesively in order to avoid confusion or a delay in current legal proceedings.

Experienced Succession Planning For Your Law Firm

Whether you are new to law, are a sole practitioner, part of a small law firm or a long-standing partner in a large firm, ask yourself—do I have a plan in place to protect my clients and ensure that legal matters entrusted to me will be handled confidently with little disruption?

While the state of Georgia does not require the implementation of a succession plan, the team at Harman Law Firm understands that an effective succession and transition plan is perhaps the best way to preserve the time and effort spent establishing the attorney-client relationship. As experienced succession planning attorneys, we provide guidance to law firms and practices of any size, helping devise an agreement that eases the transition in the event of a lawyer’s disability, sudden impairment or death.

Contact Harman Law Firm in Atlanta today to discuss provisions for your succession plan.