Succession Planning
January 30, 2012
To help ensure client retention, firms need to put in place a long-term, multipronged client transition plan at least two years before a partner's retirement. With the eldest of the baby boomers turning 65 in 2011 that means such planning must begin now.
Minding Your Business
January 30, 2012
To remain competitive, it is important for law firms to peel away the financial layers of their businesses, identify potential problems, forecast future revenues, and manage their financial health.
The Evolving Role of the Law Firm CFO
January 30, 2012
The real challenge — and opportunity — facing today's law firm CFO is not improving his or her technical expertise, but rather gaining the support of law firm management to implement real, impactful change.
Social Security Facts and Strategies
December 28, 2011
Social Security is the biggest retirement system in the United States and its benefits play an important role for retiring Baby Boomers. Millions of Americans depend on their monthly benefits, the amount which can be affected by various factors, most importantly the age at which you retire.
Law Firms: Economic Nexus May Be Heading Your Way
December 19, 2011
Economic nexus statutes are sweeping across the nation. The consequence for law firms is that your firm may be required to file a tax return in a state which no firm member or employee has even been in.
Succession Recession
December 19, 2011
The current economic recession has created a succession recession, as many firms have tabled thoughts of succession planning primarily due to the fact that the Baby Boomer generation is contributing the most to law firm revenues.
New Regulations Will Enhance Disclosure for Your Pension Plans
December 19, 2011
After years of study, thousands of hours of congressional testimony, hundreds of hearings and uncountable public comments, the Department of Labor issued Reg 408(b)2 and 404(a), designed to force better disclosure. With this better information, it is hoped that both plan providers and participants will make better decisions, leading to improved retirement preparation for America's workers.
