Retirement is an important life transition for any professional. For senior lawyers, the prospect of leaving the practice of law, as well as the partners and close professional friends with whom they have worked closely for many years, can be a complicated and difficult transition that some partners welcome and others dread.
In my chapter "Succession, Retirement and Beyond" in the the forthcoming book Good Governance in Law Firms: A Strategic Approach to Executive Decision Making and Management Structures (Globe Law and Business, 2014), I investigate the governance implications of succession planning and retirement from two points of view: that of the individual partner and that of the firm the partner leaves behind. Both perspectives must be considered for succession planning and retirement to be managed well. The firm's policies and practices with respect to succession planning, retirement and possible postretirement
roles for partners need to take into account the personal challenges that this transition to 'life after the law' can bring. Each partner also needs to plan his or her own transition well in advance – mentally, emotionally and financially.
Click here to download a prepublication copy of "Succession, Retirement and Beyond."
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