2 Common Misconceptions about Internal Law Firm Transfers 

In the 26 years I've spent facilitating business sales, I've found that most attorneys have two fundamental misunderstandings about internal law firm transfers that need to be corrected before an internal sale is a viable succession strategy. First, an internal sale is generally a multi-stage, multi-year process. The internal sale process works best when there is sufficient time for a smooth transition. Second, your associate or junior attorney does not need to have a huge stockpile of cash on hand. What associate would have that kind of cash? Clearing up these two misconceptions opens the way for an honest discussion about an internal sale as an option for your succession plan.
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