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Buying or Selling a Law Practice (2014) (2.0 MCLE credits)

2.0 Credits in Law Practice Management

Additional Information:


Overall Planning Chair

Nat Wasserstein, JD, MBA, CFE, Lindenwood Associates, LLC


Deborah Scalise, Esq., Scalise & Hamilton, LLP

Robert L. Ostertag, Esq., Ostertag O’Leary Barrett & Faulkner

Howard Fielstein CPA/ABV/CFF, CFE, CIRA, CTP, ASA, CitrinCooperman

Jennifer C. Friedman, Esq., Pace Law School, Public Interest Law Center


Program Agenda and Topics

Winding up a Law Firm

            - No Reason to Die at Our Desks
            - Your Clients’ Interests
            - Designating an Assisting/Closing Attorney
            - OCA Oversight/Administrative Board
            - Trust Accounts
            - Should You Plan for Your Death
            - Liability, Asset (What is your Law Practice?)

Buyers and Sellers

            - Motivation (Voluntary or Involuntary?)
            - Ethical Concerns for Both Sides
            - Duty of Competency
            - Secrets and Confidences
            - Due Diligence
            - Conflicts
            - Non-Competes (must be reasonable)
            - Notification
            - Caveat Emptor
            - Client Transition Plan 

Valuing a Law Firm                      

            - Book value, Market Value, and Goodwill
            - Problem with Comparable Sales
            - Rules of Thumb – there is none
            - Taxonomy Problem
            - Practice v. Professional Goodwill
            - Cash-Flow and Client Retention

Going Solo: Starting Up or Buying In?

            - Law Firm Incubators  
            - Residency for Law School Grads
            - Mentor/Mentee
            - Practice Transition Opportunities
            - Sample Deal 


Total Credits: 2.00 | Law Practice Management: 2.00

Product Code:
N. Wasserstein, D. Scalise, R.
Recorded/Publication Date:
September 09, 2014
Video Online
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