and the Lawyer’s children & spouse have no protection from personal estate planning. Such is true of not just lawyers but of many folks — but it’s a greater “sin” for the lawyer to leave the family treading water due to a lack of planning and preparation. A great article — “Planning Matters” —  in the January 2015 issue of Texas Bar Journal Rebekah Steely Brooker, President, Texas Young Lawyers Association spurred me to talk about this.

One paragraph in particular caught my eye:

… how many of these solo practitioners have a succession plan in place?

Do you? Even if you are a partnership or PLLC with two or three lawyers, do you have a succession plan that will allow you to survive without your other partner or associate?

The Texas Rules of Disciplinary Procedure at Article XIII deal with Cessation of Practice. But that is after the fact. Your objective, should you agree to undertake this mission, is to put a plan in place. This message will not self-destruct in 15 seconds.

Ms. Brooker’s article may be found here:  PlanningMatters.

There is also a comprehensive paper entitled “RETIREMENT AND SUCCESSION PLANNING FOR SOLOS” given at the Law Practice Management section at the 2014 State Bar Convention by Lynn Davis Ward. It’s here:  RetirementSuccession_Ward. What a great way to get started! Use it to plan for the untimely death or disability as well as retirement.