EP 139 - Tom Lenfestey - Selling or Acquiring A Law Firm

Tom Lenfestey is the Managing Member of The Law Practice Exchange, LLC as well as a practicing North Carolina attorney and licensed CPA. Tom has spent many years in the legal world focused on transition and succession planning for a multitude of professions. He serves on the Transitioning Lawyers Commission with the North Carolina Bar Association and has provided a variety of educational events to attorneys, legal insurers, and law-related professional organizations on topics such as succession planning, selling and valuing your practice, and lawyer transitions. Tom is the author of the book "Designing a Succession Plan for Your Law Practice."The Law Practice Exchange is a law firm brokerage company that advises and assists owners of law firms in selling their firms over time using a transition-based process developed by lawyers, exclusively for lawyers.On This Episode, We Discuss...- Grasping the Process of Buying or Selling a Law Firm- Delegating Your Firm's Value- Who is Buying or Selling Firms?- Developing a Transition Plan