Building the Future: Succession Planning for Lawyers

In this episode of the Law Practice Today podcast, Terrell interviews Jeremy Poock, a Massachusetts attorney and expert in law firm succession planning. Jeremy discusses the importance of a book of business, client lists, and the impact of digital value on law firm sales. Discover key triggers that prompt lawyers to consider selling their firms and get practical advice on preparing for an exit, including valuation methods and strategies for navigating internal team dynamics. Tune in for valuable insights on successfully planning and executing your law firm’s succession or exit.00:00 Introduction: The Value of a Lawyer's Book of Business00:15 Podcast Introduction and Disclaimer00:53 Guest Introduction: Jeremy Poock on Succession Planning01:33 Jeremy Poock's Background and Career Journey03:05 The Birth of Senior Attorney Match06:54 Challenges and Motivations for Selling a Law Firm09:22 The Impact of COVID on Succession Planning10:41 Initial Steps in the Succession Planning Journey17:04 Valuation of a Law Firm: Law Firm Sales 1.0 vs 2.021:15 Where to Find More Information22:19 Conclusion and Farewell