Darren Wurz is a highly regarded specialist in financial planning for law firm owners, and he is widely recognized as a published author and engaging public speaker. With his extensive experience as a financial planner, Darren partners with entrepreneurial law firm owners to turn their business success into extraordinary personal wealth and financial independence. He is the best-selling author of The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence, a book published by the American Bar Association. Read More ›
Retirement Planning Strategies for Law Firm Owners
Retirement planning for law firm owners is multifaceted, involving personal financial decisions in addition to thoughtful business planning and careful ethical and regulatory considerations.
In this session, participants will learn practical strategies for calculating how much they need to retire, evaluating their progress, investment planning, and creating a robust succession plan to ensure a seamless exit. We will also review ethical considerations surrounding the sale of law firms and guide attendees through the current trends and changes happening with rules around law firm ownership.
Agenda:
- Introduction and Overview
- My background and introduction
- Retirement Introduction and discussion of top retirement fears
- The 3 Essential Steps to Retirement Planning for Attorneys
- Step 1: Creating a Financial Plan
- Defining your short term and long term goal
- Calculate your retirement budget, capital needs, and accounting for inflation
- Thinking about the possible future sale of your law practice
- Step 2: Planning for Succession
- Planning for the future of your law firm/practice
- Determining the potential sellable value of your law practice
- Designing your succession plan
- Rules, regulations, and ethical considerations
- Step 3: Preparing for Transition
- Preparing your practice and best practices for law firm owners
- Preparing personally and emotionally for retirement
- Preparing financially for retirement and aligning your investment strategy
- How to evalute a financial advisor
- Concluding Remarks and Q&A Session
Topics covered include:
Law Practice Management
Duration of this webinar:
60 minutes
Originally broadcast:
May 17, 2024 10:00 AM PT
Continuing Legal Education (CLE) Credits
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California CLE
Status: Approved
Credits: 1.0 General
Earn Credit Until: May 16, 2026
South Carolina CLE
Status: Approved
Credits: 1.0 General
Difficulty: All Levels
Earn Credit Until: December 31, 2024
North Carolina CLE
Status: Approved
Credits: 1.0 General
Earn Credit Until: February 28, 2025
This presentation is approved for one hour of General CLE credit in California, South Carolina (all levels), and North Carolina.
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