As an attorney, you work hard to build your practice and serve your clients. But have you considered what would happen if something were to happen to you? This is where succession planning comes in. 

In today's episode, estate planning attorney Steven McClelland  shared his insights on the importance of having a succession plan in place. 

Here are five reasons why every lawyer needs a succession plan:

1. Protect Your Clients: If you were to become incapacitated or pass away, what would happen to your clients? A succession plan ensures that your clients' needs are taken care of and that their cases are transferred to another attorney who can provide them with the same level of service you did.
2. Protect Your Employees: Your employees are an important part of your practice. A succession plan ensures that they are taken care of and that their jobs are secure in the event of your incapacity or death.
3. Protect Your Family: A succession plan ensures that your family is taken care of and that your practice is passed down to them if that is your wish.
4. Protect Your Reputation: Dumping all your files in a dumpster instead of properly disposing of them is not only unprofessional but can also damage your reputation. A succession plan ensures that your files are properly organized and that your reputation remains intact.
5. Peace of Mind: Having a succession plan in place gives you peace of mind knowing that your practice will continue to thrive even if something were to happen to you.

A succession plan is crucial for every lawyer. It ensures that your clients, employees, family, and reputation are protected and gives you peace of mind. So, take action today and create a succession plan that works for you and your practice. And be sure to check out the Maximum Lawyer podcast for more valuable insights and strategies to help you overcome challenges in your practice.

07:29 The importance of ending things properly.

09:22 72% of entrepreneurs do not have a succession plan

15:13 A checklist and key documents for succession planning, including a business power of attorney, agreement to close practice, and confidentiality and non-disclosure agreement. He offers to share these documents with listeners.

🎥 Watch the full video on YouTube here.

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Resources:

• Join the Guild Membership
• Subscribe to the Maximum Lawyer Youtube Channel
• Follow us on Instagram
• Join the Facebook Group
• Follow the Facebook Page
• Follow us on LinkedIn