In today's episode, I am joined by Douglas Wood, former Big Law attorney and author of 11 books, including From Dawn to Dusk: How to Build a Multimillion Dollar Law Practice and Then Give It Away.

We dive into the often-ignored topic of succession planning for attorneys nearing retirement in large law firms. Doug shares his own experience transitioning out of a big law career, mentoring younger attorneys, and how firms can better manage the departure of senior partners. We also discuss the importance of delegation, mentorship, and planning for retirement from both the attorney's and the firm's perspective.

At a Glance:

• 00:00: Introduction to the episode and guest, Douglas Wood

• 01:20: Transitioning out of law practice and the significance of succession planning in Big Law

• 03:20: Doug's career path, from small firms to becoming a partner at Reed Smith

• 04:50: Retirement planning in large firms and the lack of formal transition processes

• 06:54: Why law firms avoid discussions about partner transitions

• 09:00: Mentoring younger attorneys and the rewards of delegating client relationships

• 11:00: Addressing the risks of delegation and the misconception that clients will leave

• 13:15: Building a transition plan that benefits the firm, the transitioning attorney, and the younger lawyers

• 17:03: Balancing client demands, billable hours, and mentoring—debunking the "too busy" excuse

• 21:10: The generational gap and its impact on mentorship in the legal profession

• 24:00: The lack of formal programs for senior lawyers and why law firms should view them as assets

• 30:00: Doug discusses his novel writing and upcoming projects

Rate, Review, & Follow on Apple Podcasts & Spotify

Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.

For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select "Write a Review." Then be sure to let me know what you loved most about the episode! Also, if you haven't done so already, follow the podcast here!

For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.

How to reach Doug Wood [email protected] https://dawntodusk.wood.law/

LinkedIn: https://www.linkedin.com/in/djwood1976

Facebook: https://www.facebook.com/profile.php?id=61562791655439

Amazon: From Dawn to Dusk: How to Build a Multimillion Dollar Law Practice and Then Give It Away: Wood, Douglas J.: 9798985856460: Amazon.com: Books

Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:

www.lauraterrell.com

[email protected]

LinkedIn: https://www.linkedin.com/in/lauralterrell/

Instagram: https://www.instagram.com/lauraterrellcoaching/

Show notes: https://www.lauraterrell.com/podcast