Dec

    Valuing Your Solo or Small Firm Practice: A Cornerstone of Your Succession Plan

    1 PM EST

    This webinar is part of the GPSolo Series, a range of CLE programs helping General Practice, Solo and Small Firm Practitioners with their legal needs. You will learn how to satisfy your ethical obligations, simplify administration of your estate, and finally, develop a plan to extract value from your firm as a reward for all your efforts to establish a successful practice. It's never too early to start planning so you can leave your family an asset, not a liability.

    Select your state to learn more about the credit details and status of CLE application.

    1.00 total credit hours including

    • General

      Status:

      Approved

      1.00 credit hours

      Available until:

      12/09/2022

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      Available for credit

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      Available until:

      12/09/2022

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      Available until:

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      Approved

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      Available until:

      12/09/2020

    1.00 total credit hours including

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      Available for credit

      1.00 credit hours

      Available until:

      12/09/2022

    1.00 total credit hours including

    • General

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      Approved

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      Available until:

      12/09/2022

    1.00 total credit hours including

    • General

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      Applied for

      1.00 credit hours

      Available until:

      12/30/2021

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      Available for credit

      1.00 credit hours

      Available until:

      12/09/2022

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      Applied for

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      Approved

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      Available until:

      12/09/2022

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      Approved

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      12/09/2022

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      Approved

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      Approved

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      Available until:

      12/09/2022

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    • General

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      Approved

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      12/09/2022

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      Self apply

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      Approved

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      12/09/2022

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      12/09/2022

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      Applied for

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      Available until:

      12/30/2020

    1.00 total credit hours including

    • General

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      Applied for

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      Available until:

      12/09/2022

    1.00 total credit hours including

    • Substantive

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      12/09/2022

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    • General

      Status:

      Applied for

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      12/09/2022

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    • General

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      Approved

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    • General

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      Approved

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      Available until:

      12/09/2021

    1.00 total credit hours including

    • General

      Status:

      Available for credit

      1.00 credit hours

      Available until:

      12/09/2022

    1.00 total credit hours including

    • General

      Status:

      Self apply

      1.00 credit hours

      Available until:

      12/09/2022

    1.00 total credit hours including

    • General

      Status:

      Applied for

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      Available until:

      12/09/2022

    1.00 total credit hours including

    • General

      Status:

      Self apply

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      Available until:

      12/09/2022

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    • General

      Status:

      Applied for

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      Available until:

      12/09/2022

    1.00 total credit hours including

    • General

      Status:

      Applied for

      1.00 credit hours

      Available until:

      12/09/2021

    1.00 total credit hours including

    • General

      Status:

      Applied for

      1.00 credit hours

      Available until:

      12/09/2022

    1.00 total credit hours including

    • General

      Status:

      Approved

      1.00 credit hours

      Available until:

      12/09/2022

    1.00 total credit hours including

    • General

      Status:

      Approved

      1.00 credit hours

      Available until:

      12/09/2022

    1.00 total credit hours including

    • General

      Status:

      Applied for

      1.00 credit hours

      Available until:

      10/30/2021

    1.00 total credit hours including

    • Law & Legal Procedure

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      Applied for

      1.00 credit hours

      Available until:

      12/09/2024

    1.20 total credit hours including

    • General

      Status:

      Approved

      1.20 credit hours

      Available until:

      12/09/2022

    1.00 total credit hours including

    • General

      Status:

      Approved

      1.00 credit hours

      Available until:

      12/09/2020

    1.00 total credit hours including

    • General

      Status:

      Self apply

      1.00 credit hours

      Available until:

      12/09/2022

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    Many solo and small firm lawyers leave real value on the table when they close out their practices, in addition to being required to meet Model Rule 1.17, which allows you to sell your practice including good will if certain conditions are satisfied. A comprehensive valuation is one of the cornerstones of the exit planning process. Without a valuation, you will be unable to plan for retirement, do comprehensive tax planning, formulate a good estate plan or understand the full extent of various exit options. A business valuation impacts virtually every component of the exit planning process.


    While law firm owners would like a simple approach to establishing a value for their firms, such an approach does not exist. If you are planning on transferring your ownership interests within a year or two, you should conduct an extensive evaluation process. If you are three to five years away from transferring your ownership interests, a rough estimate should suffice for planning purposes and you should update this estimate annually. There are standard practices for valuation methods and an understanding of these approaches can help you understand the process.

    In sum, this course will help you learn about:

    • Identifying methods of valuating a practice
    • Meeting the ethical requirements to have a transition plan in place
    • Creative and realistic considerations in establishing value
    • Recognizing critical factors when establishing value of your firm

    Event Details

    Duration

    60

    Format

    Web

    Date

    Dec 10, 2019

    2019-12-10T13:00:00-05:00 2019-12-10T14:00:00-05:00 Valuing Your Solo or Small Firm Practice: A Cornerstone of Your Succession Plan

    This webinar is part of the GPSolo Series, a range of CLE programs helping General Practice, Solo and Small Firm Practitioners with their legal needs. You will learn how to satisfy your ethical obligations, simplify administration of your estate, and finally, develop a plan to extract value from your firm as a reward for all your efforts to establish a successful practice. It's never too early to start planning so you can leave your family an asset, not a liability.

    Sponsors

    Panelists

    Gary Paul Bauer

    Moderators

    MCLE Information

    The ABA will seek 1.00 CLE general credit hours in 60-minute-hour states, and 1.20 general credit hours of CLE credit for this program in 50-minute states. Credit hours are estimated and are subject to each state’s approval and credit rounding rules.

    View - MCLE Details

    Deaf/Hard of Hearing Attendees

    CART (Communication Access Realtime Translation) service provides instant accessibility for the deaf and hard of hearing by delivering the spoken word as a realtime stream of text. CART service for this program is firewall-friendly and works in almost any network environment with Internet access, and is compatible with all major web browsers.

    Read more about - Webinar Features

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