NYSBA Member: $50
Buying and Selling Your Practice
Sponsored by the Law Practice Management Committee and the Committee on Continuing Legal Education.
Selling a law practice is not an easy thing to do. However, with thoughtful planning, buying or selling a law practice can be a viable option for retiring attorneys and growing firms. Program agenda and topics will include Winding Up a Law Firm, Ethical Obligations of Buyers and Sellers, and Valuing a Law Firm.
Tuesday, May 15, 2018
9:00 a.m. – 11:00 a.m.
Live Program & Webcast
CFA Society New York
1540 Broadway, Suite 1010
New York, NY 10036
2.0 MCLE Credits: 1.0 Law Practice Management, 1.0 Ethics
NYSBA Member: $50 | Non-Member: $150
8:30 a.m. Registration
9:00 a.m. – 9:10 a.m. Welcome and Introduction
9:10 a.m. – 9:35 a.m. 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?)
9:35 a.m. – 10:25 a.m. Buyers and Sellers
- Motivation (Voluntary or Involuntary?)
- Ethical Concerns for Both Sides
- Duty of Competency
- Secrets and Confidences
- Due Diligence
- Non-Competes (must be reasonable)
- Caveat Emptor
- Client Transition Plan
10:25 a.m. – 10:50 a.m. 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
10:35 a.m. – 11:00 a.m. Question and Answer Session
Nathaniel S. Wasserstein, Esq. | Lindenwood Associates, LLC
Howard Fielstein, CPA/ABV, CFF, ASA, CIRA, CTP, Citrin Cooperman
William D. McCracken, Esq., Ganfer & Shore, LLP
Out of State Accreditation: This program has also been approved for MCLE credit by the State Bar of California, the Pennsylvania Continuing Legal Education Board and the Board of Continuing Legal Education of the State of New Jersey. If you require MCLE credit in other states, we can provide you a Uniform MCLE Form.
Partial Credit for Program Segments Not Allowed: Under the New York State Continuing Legal Education Board Regulations and Guidelines, attendees at CLE programs cannot get MCLE credit for a program segment (typically, a lecture or panel, of which there are usually several in a program) unless they are present for the entire segment. Those who arrive late, depart early, or are absent for any portion of the segment WILL NOT receive credit for that program segment.
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To view the full list of Law Practice Management Programs, click here.
If you have any questions about this program, please contact Katherine Suchocki, Esq. Director of Continuing Legal Education