Law Deals: Succession Planning, Partnerships, Purchases, and Sales

Your law firm's digital assets can be among its most valuable assets. Yet, while most law firm owners can tell you exactly how much cash is in the bank, ask them who owns the firm's website, domain name, or Google Ads account, and the answer often gets fuzzy. In this episode, Ed Alexander sits down with Paige Wiese, founder and CEO of Tree Ring Digital and co-founder of Biz Foresight, to talk about a risk that hides in plain sight. Your digital assets.

Paige has spent sixteen years helping companies manage online infrastructure through growth and transition. She has developed a framework that tracks over 200 data points tied to ownership of a business's digital presence. She and Ed discuss vendor lock-in, what happens when a partner or employee leaves without transferring account ownership, and how digital assets factor directly into a law firm's valuation during a sale or succession.

If you are planning to sell your practice, bring on a partner, or simply want to protect what you have already built, this conversation gives you a practical starting point, along with the first three steps every firm owner should take.

ExitMyLawPractice.com

In this episode of The Law Deals Podcast, I sit down with Daniel Feiman, founder of Build It Backwards, to explore a proven five-phase framework for effective law firm succession planning. Drawing on decades of experience and work with more than 100 firms, Daniel breaks down why most succession plans fall short and how his structured yet adaptable system helps firm owners safeguard their legacy and maximize their firm’s value.

From identifying and developing successors to navigating those tough partnership conversations, this episode bridges the gap between theory and practical execution. Daniel and I dive into the real-world challenges behind partner miscommunication, transition strategy, and the importance of early, intentional planning, so you can stay in control of your future and your firm’s legacy.

Whether you’re a solo practitioner or a managing partner, this conversation offers actionable insights and a powerful mindset shift—from “we’ll figure it out someday” to designing a future you can be proud of.

Most lawyers know they should have professional liability insurance—but few truly understand what it actually covers, when it applies, or how it protects them as their firms evolve.

In this episode of The Law Deals Podcast, I sit down with attorney Peggy Hewitt, Resources and Services Manager at Florida Lawyers Mutual Insurance Company, to demystify professional liability (errors and omissions) coverage for law firms. A former trial lawyer and law firm partner herself, Peggy brings firsthand experience from both sides of the profession—practicing law and protecting those who do.

We discuss what lawyers often overlook about “claims-made” professional liability insurance policies, how tail and nose coverage protect you during retirement or firm changes, and why partnership agreements must address insurance obligations.

If you’re planning to grow, transition, or exit your firm, this conversation will guide you in protecting your practice, reputation, and peace of mind.

Too many law firms spend heavily on ads, SEO, or the “latest marketing trend” without first laying the groundwork for success. The result? Burned budgets, scattered strategies, and frustration when the phone still doesn’t ring.

In this episode of The Law Deals Podcast, I sit down with Carrie Flynn, founder of Virtual Simplicity and a marketing strategist for professional service firms, to cut through the noise. Carrie shares her journey from classroom teacher to trusted advisor for attorneys, financial planners, and consultants, helping them design marketing systems that actually work.

We dig into the mistakes that drain law firm marketing budgets, the importance of defining your ideal client, and how to craft a message that resonates with the right people. We also explore the balance between being the “face of the firm” and building scalable systems that increase your firm’s long-term value.

If you’re ready to stop guessing with your marketing and start building a strategy that generates consistent, qualified leads, this conversation will show you the path forward.

In this episode of The Law Deals Podcast—the second in our two-part series with attorney Jonathan Hawkins, founder and managing partner of Law Firm GC—we shift the focus to indirect ownership of law firms and the growing role of management and legal service organizations.

Jonathan and I explore how private equity structures deals to acquire everything but the practice of law itself, relying management agreements to control staffing, marketing, billing, and back-office functions. We break down the ethical challenges under Rule 5.4, the risks of fee-sharing through service arrangements, and why control, whether actual or effective, is the central issue regulators are watching.

Whether or not you ever interact directly with private equity, these indirect ownership models are shaping the competitive landscape and influencing how law firms attract capital, structure succession, and plan for the future.

In this episode of The Law Deals Podcast, the first in a two-part series, I’m joined by attorney Jonathan Hawkins: founder and managing partner of Law Firm GC. Together, we explore one of the most significant shifts facing the legal industry: the rise of private equity in law firms.

We break down the two primary models of investment: direct ownership and indirect ownership, and the ethical rules that stand in the way of non-lawyer participation under Rule 5.4 and state bar regulations. Jonathan explains how Arizona’s Alternative Business Structures have opened the door, why states like Texas and Florida are holding firm, and how multi-state firms and local counsel arrangements create complex challenges.

For lawyers and law firm owners, the implications are clear: private equity may already be your competition, and modernization isn’t optional, it’s the key to creating value and resilience in your firm.

This conversation lays the foundation for Episode 33, where we will turn to the equally important issue of indirect ownership and its impact on the future of law firm structure and competition.

From Chaos to Cash-Out: How One Attorney Turned a Century-Old Firm Into a Practice that Served Her and a Successful Exit.

What happens when a tech-savvy attorney walks into a law firm that's been doing things "the old way" for decades? In this episode of Law Deals, attorney-entrepreneur Jennifer Bondy reveals the dramatic transformation that turned one of her county's oldest, most traditional law firms into a systemized, technology-driven powerhouse and positioned it for a lucrative sale.

Through strategic process improvement, cutting-edge automation, and game-changing practice management tools, she built a machine of consistency and accountability that resulted in her successful and profitable exit.

Jennifer cracked the code on turning operational excellence into exit excellence. If you're ready to start building a valuable asset that serves you, this episode is for you.

The Law Deals Podcast celebrates its 30th episode with an important conversation between host Ed Alexander and financial advisor Jennifer Lee. Together, they explore the realities of preparing for life after law firm ownership, from tax strategies and installment sales to the psychological shift that comes with stepping away from the practice you built. Jennifer shares practical advice for reducing financial concentration in the firm, using tools like cash balance plans, and creating a "business love letter" to guide your family and team if something happens to you.

This milestone episode also looks at how firm owners can avoid the most common financial mistakes and start planning years before they sell. Ed and Jennifer draw on decades of experience to help lawyers understand what it takes to exit on their own terms while protecting their wealth and their legacy. Find more from Jennifer here:

https://modern-wealth.com/

https://www.linkedin.com/in/jennifer-lee-awma%C2%AE-aif%C2%AE-1b5aa56/

In this episode, Ed Alexander talks with Ashley Robinson, founder of Green Cardigan Marketing, about what makes a law firm marketable, both to clients and to potential buyers. Ashley shares her journey from a one-person side hustle to leading a full-service agency working exclusively with law firms. Her background in niche marketing and her family’s entrepreneurial roots give her a unique perspective on helping firms move from unpredictable referrals to reliable, diversified lead generation.

Ashley breaks down how law firms can build multiple marketing channels tailored to their practice area, audience, and goals. She explains why SEO and video marketing are critical, how to position your firm as more than a commodity, and what to do now if you're thinking about selling your practice in the next 1 to 10 years. She also addresses a common question from lawyers preparing for a sale: Should I take my name off the firm? Her advice is practical, experience-based, and focused on what actually helps grow firm value. If you’re wondering how to turn your reputation into an asset that supports a sale, or just want to stop relying entirely on referrals, this episode is worth your time.

Find more from Ashley here:

https://www.linkedin.com/in/ashleyrobinsongcm/

https://greencardiganmarketing.com/

In Episode 28 of The Law Deals Podcast, Ed Alexander and his business partner Matt FitzGibbon unpack the hidden clause that can quietly destroy the value of a business or derail an exit. They’ve seen it in law firms, medical practices, and small businesses alike: a partnership agreement written years ago with no connection to today’s reality.

This episode dives into how outdated or vague valuation terms, like book value or fixed buyout amounts, can lead to partners being massively underpaid. Ed and Matt also break down the differences between book value, fair market value, fair value, and most probable selling price, and explain why clarity matters long before a buyout, death, or dispute. If you’ve got a partnership agreement (or plan to), this one is essential. You can find more from Matt FitzGibbon & FitzGibbon Alexander, Inc. at: https://FitzgibbonAlexander.com/