Ronnie Fox – författare

Many professionals, especially those who own all or part of their firm, find it difficult to think about retirement. In particular, those who practise their chosen profession into their sixties and seventies often worry that when they retire they will miss the challenge, excitement, companionship, mental stimulation and sense of fulfilment that their work provides. After all, to a great extent we are what we do, and winding down raises questions about self-esteem and one's value to society. Moreover, professional life increasingly conditions us to place the interests of clients, customers and colleagues so far in front of our own interests that personal and family issues are sometimes neglected, creating additional challenges.With these challenges in mind, the notion of "never doing today what can be done tomorrow" can be seductive. However, Partner Retirement in Law Firms is designed to help reduce procrastination and encourage proactive retirement planning. In this new book, expert contributors provide tips and guidance for navigating the difficult aspects of retirement in the broad context of career planning, including:*the financial consequences of retirement;*legal matters;*day-to-practicalities;*accounting and tax;*psychological considerations; and*succession planning.Partner Retirement in Law Firms provides a practical guide to finding the right path to retirement and is aimed at individual partners seeking to transition from professional to retired life seamlessly and with minimal stress. In addition, it makes an invaluable resource for law firm HR and career development teams.

It has never been more important for law firms to plan for the future. A highly competitive market, an aging profession, the changing ambitions of younger generations, many of whom place greater importance on work-life balance than reaching top leadership levels, and a long-held reluctance to discuss retirement and succession, all combine to create what some are calling a succession crisis. It is time to face the issue head-on and start putting systems in place to ensure the long-term success and health of lawyers and their firms: succession planning is the answer to this.A successful succession encompasses two core elements: transitioning firm management to a new generation, and transferring client relationships. This title provides guidance not only on how these two transitions can be achieved effectively, from the perspectives of both individual partners and the firm, but also on the plethora of issues involved in preparing for the departure of retiring partners and transitioning in new leadership, including compensation, the role of diversity and inclusion and financial considerations. It also considers situations where more specific and specialised plans may be required, such as managing the succession of a rainmaker or a founding partner.A strong and effective succession plan ensures that clients are retained over the long-term, retiring partners leave optimistic and satisfied, future leaders are in place and prepared for their roles, and the firm continues to grow and flourish. The shift to a more remote work environment has also made the institutionalising of processes such as succession planning even more important. By providing a thorough understanding of its many elements, this title explains how effective succession planning can be implemented and ensure smooth leadership and client transitions, securing and enhancing the current and future success of partners and their firms.