FLS Attorney Transitions Practice™

When we discuss attorney “transitions” we generally mean of two types of transactions: growth or exit. Attorneys looking to grow via merger or purchase, or attorneys looking to exit via sale or over a set time frame.

The Process

  • Discuss and Consider: goals, ideal outcome, and timing.
  • Prepare the practice: financial reports, employee documentation, processes.
  • Identify options: buy or merge, internal succession, third party sale, how to structure.
  • Build team of advisors: attorney, accountant, trusted advisors.
  • Valuation: understand what the practice is worth and how much to pay/receive.
  • Execute: deal documents, ethics rules, client notice, tax considerations.
  • Implement/Integrate: post-sale operations.

We have experience assisting our clients through each stage of this process.

What We Have Learned

  • You want a neutral third party at the table – the emotional issues are challenging and real.
  • Tax Considerations are paramount – our clients care very much about tax consequences and we help you navigate those issues.
  • Execution is not that difficult – attorney transitioning is not that difficult if you have the right team in place and follow our process.
  • Our clients do not regret transitioning – sellers maximize the value of what they have built through many years of effort, and buyers gain market share, combine skillsets to increase revenue, and combine operations to improve profit margins.

For assistance with any legal matters related to your business or estate planning, contact Fournier Legal Services at jfournier@jeflegal.com or 860.670.3535 now for a consultation and planning session.

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