Episode Details

Owners of law firms often face unique challenges as they transition out of their practices.

Whether due to retirement, a career change, or other reasons, the decision to sell your firm requires careful consideration and guidance. 

In part three of the Succession Planning for Law Firm Owners mini-series, Darren Wurz sits down with Tom Lenfestey, Founder of The Law Practice Exchange, LLC. Tom shares his journey from being a practicing attorney to founding The Law Practice Exchange, a company that provides services for selling or buying a law practice through an internal transition or in the marketplace.

Tom discusses:

• How his company identifies good matches between buyers and sellers
• The challenges in selling and buying a law firm
• The importance of personal and operational readiness when considering growth through acquisition
• The types of buyers interested in acquiring law firms
• The trends in non-attorney ownership and private equity in the legal industry
• And more!

Resources:

• Wurz Financial Services
• Designing a Succession Plan for Your Law Practice by Tom Lenfestey

Connect with Darren Wurz:

• dpw@wurzfinancialservices.com
• 30 Minute Chat With Darren
• Wurz Financial Services
• The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz
• LinkedIn: Darren P. Wurz
• LinkedIn: The Lawyer Millionaire 
• Twitter: Wurz Financial Services

Connect with Tom Lenfestey: 

• LinkedIn: Tom Lenfestey
• Website: The Law Practice Exchange 
• Twitter: LawPracticeExchange
• Facebook: Th