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

In this episode of The Law Deals Podcast, we chat with Tom Tona, the founder and CEO of Tona Law. Tom takes us through his journey from solo attorney to CEO, sharing the challenges, insights, and strategies he used to build a firm that’s built to last. He discusses the importance of process, relationships, and a “trial model” approach to personal injury law, and why he believes every attorney should treat their practice as a business asset. Tune in to hear about his succession planning strategies, insights on coaching, and why letting go is often the best way to grow.

In episode 14 of The Law Deals Podcast, Ed Alexander sits down with Darren Wurz, the Managing Partner of Wurz Financial Services and host of The Lawyer Millionaire podcast. Together, they explore the intricacies of financial planning for law firm owners. Darren shares insights from his journey from teacher to financial advisor, explains the importance of niche marketing, and offers a look into his innovative subscription-based advisory model tailored for law firms.

Tune in to hear valuable tips on balancing personal and business cash flow, the value of recurring revenue, and key steps to creating a sustainable law practice. Whether you're considering succession planning, building a more independent firm, or looking to avoid burnout, this conversation offers actionable strategies for every law firm owner.

Don’t miss this engaging episode full of stories, strategies, and practical advice that will inspire you to rethink how you manage and grow your law firm! Visit thelawyermillionaire.com for more resources.

In this episode of the Law Deals Podcast, host Ed Alexander interviews Charley Mann, a law firm coach and founder of Law Firm Alchemy. Charley shares his unconventional journey from theater major to law firm entrepreneur, highlighting the essential strategies for building a successful and profitable law practice. The discussion covers key principles like consistency in marketing, maximizing the highest and best use of time, and understanding the financial aspects of running a firm. Charley also emphasizes the importance of balancing the desire to serve clients with the need to generate profit. Additionally, listeners are introduced to Charley's free referral playbook, designed to help law firms grow their client base, available at lawfirmalchemy.com/referrals.

In this episode of the Law Deals podcast, Attorney Ed Alexander sits down with Brian Glass from Great Legal Marketing. They explore Brian's journey in the legal field, discussing the significant milestones and challenges he faced along the way. Ed also shares his expertise on succession planning for law firms, offering practical advice on how to secure the future of legal practices. This conversation delves into the strategies and experiences of two seasoned professionals, providing listeners with valuable insights and actionable tips for their own legal careers. Tune in for an engaging and informative discussion on how to Create the Firm of Your Dreams. For last years Great Legal Marketing summit notes, please visit GLMSummitNotes.com

In this episode of the Law Deals podcast, Attorney Ed Alexander hosts Jonathan Hawkins of Law Firm GC to explore the ethical concerns of law partnerships. They discuss the critical issues that partners face, including conflicts of interest, maintaining client confidentiality, and upholding professional standards. Jonathan brings his extensive experience to the conversation, offering valuable insights and practical advice on navigating these complex ethical landscapes. This episode is a must-listen for anyone interested in the ethical foundations of successful law partnerships. https://www.yourlawfirmgc.com/

In this episode of the Law Deals podcast, Attorney Ed Alexander hosts Jonathan Hawkins of Law Firm GC to explore the ethical concerns of law partnerships. They discuss the critical issues that partners face, including conflicts of interest, maintaining client confidentiality, and upholding professional standards. Jonathan brings his extensive experience to the conversation, offering valuable insights and practical advice on navigating these complex ethical landscapes. This episode is a must-listen for anyone interested in the ethical foundations of successful law partnerships. https://www.yourlawfirmgc.com/

Join us for Episode 10 of the Law Deals Podcast, where we chat with Victoria Collier, a seasoned attorney and entrepreneur. Victoria began her career in the Air Force before opening her own law firm straight out of law school, eventually pioneering Veterans Benefits for Seniors in elder law. She ran her successful firm for 18 years, then strategically sold it to focus on new ventures. In this episode, Victoria shares her journey from building to selling her firm, and the strategic moves that made her firm both valuable and salable. She’ll also discuss her current work, coaching attorneys on how to effectively grow and potentially sell their firms. Whether you’re looking to scale your practice or plan an exit, Victoria’s insights are invaluable. Tune in to learn how to position your firm for success, and find more from Victoria at https://quidproquolaw.com/.

In the ninth episode of The Law Deals Podcast, host Ed Alexander sits down with Attorney Jordan Ostroff, a dynamic figure in the legal field whose career trajectory took a fascinating turn from state attorney to law firm owner. Jordan shares the story of his transition, offering listeners an intimate look at the challenges, surprises, and ultimately, the rewards of purchasing and revitalizing a law firm. Tune in to explore the complexities and triumphs of buying your own law firm through Jordan’s narrative. Join Ed and Jordan for a conversation that's as educational as it is encouraging, shedding light on the possibilities that await beyond the traditional legal career paths.

Join us in Episode 8 of the Law Deals podcast with your host, Ed Alexander, as we delve into the crucial topic of The Conversation when selling your law firm. This episode explores the vital dialogue every firm owner must initiate with their associates when considering the sale of their practice. Ed Alexander navigates the complexities of this conversation, highlighting the importance of transparency, clarity, and sensitivity in addressing the concerns and aspirations of associates. From aligning expectations to fostering a culture of trust and collaboration, this episode equips both firm owners and associates with the tools needed to navigate the transition process smoothly. Tune in to Episode 8 of the Law Deals podcast with Ed Alexander, and discover the essential steps to initiate "The Conversation" that will shape the future of your law firm.

In this enlightening episode of "Law Deals," we delve into the intricate world of goodwill in the legal industry, an asset as intangible as it is valuable. As we unpack the essence of goodwill, we explore its critical role in the valuation and success of law firms and businesses alike. Discover how goodwill, often hidden in plain sight, can significantly impact a firm's reputation, client loyalty, and ultimately, its market value. We tackle the complex questions surrounding the quantification of goodwill and the legal frameworks that govern it. From the ethical considerations in its transfer to the strategic decisions behind its enhancement, this episode is a deep dive into the intangible yet indispensable asset that can make or break a law firm's legacy.