Thinking about leaving legal practice can be unpleasant for many solicitors. After many years of dedication and service to clients and the community, it can be difficult imagining a life which does not involve practising law.
However, as difficult as it may be, planning for the future and for unforeseen circumstances is crucial to avoiding the fallout of a law practice principal suddenly not being able to manage their practice.
Sole practitioners and sole principals of incorporated and unincorporated legal practices are particularly vulnerable to disruption if they are suddenly unable to manage their law practice.
To help principal solicitors navigate the ins and outs of contingency and succession planning, the Law Society’s External Intervention team, Professional Support Unit and Professional development team have recently updated the on-demand interactive course: Deep dive into contingency and succession planning. The self-paced course is now free to Law Society members and can be claimed towards mandatory CPD.
The course delves into various aspects of contingency and succession planning in legal practice and provides practical guidance to help law practice principals plan for the unexpected, as well as for a smooth transition into retirement.
In addition to the course, practitioners are encouraged to consult various resources on contingency and succession planning available on the Law Society’s Practice Support Hub.
Access the course on LawInform and start planning today.
