Succession Planning - Video Replay Denver
December 2019
Succession Planning
What You Can Do Today and Perspectives on Planning for the Future
Program Description:
Succession planning, while not mandated by the Colorado Rules of Professional Conduct, is something all lawyers need to engage in. It matters to active clients, former clients and a lawyer’s friends, family, and colleagues. This program will discuss ways to plan for unexpected death and disability. Learn about the logistics of the inventory counsel process and the inventory counsel role. Hear from the Office of Attorney Regulation Counsel and attorneys experienced with the stages of succession planning, and leave the program with simple ways to organize your practice so that it can be easily closed or sold by inventory counsel. The faculty members will highlight and discuss the ethics rules that lawyers need to consider when making plans for the future.
Key Topics:
- Create a Contingency Plan to Prepare Your Firm for Unexpected Death and Disability
- Understand the Inventory Counsel Process and Role
- How Best to Organize Your Firm, Talk to Colleagues, and Develop a Plan to Transition Your Practice, or at a Minimum, Idetify Inventory Counsel
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AGENDA
8:30 am
Registration and Breakfast
9:00 – 9:30 am
Inventory Counsel and Succession Planning: An Overview 0.6 Ethics Credit
Succession planning, while not mandated by the Colorado Rules of Professional Conduct, is something all lawyers need to engage in. It matters to active clients who may be left in a difficult position should something suddenly happen to their lawyer, and it matters to former clients should an attorney possess old files or property that those clients need. It also matters to a lawyer’s family and loved ones who may be burdened not only by winding down a practice unexpectedly but worried over liabilities left to an estate. Mr. Sapakoff will review ethics rules that lawyers should keep in mind when making plans for the future. He will also cover the inventory counsel appointment process and recommend that lawyers talk to colleagues about serving as inventory counsel so that there is a contingency plan in place.
- C.R.P.C. 1.3, Comment 5
- C.R.P.C. 1.6
- C.R.P.C. 1.15A-E
- C.R.P.C. 1.16A
Presented by Gregory G. Sapakoff, Esq., Deputy Regulation Counsel, Office of Attorney Regulation Counsel
9:30 – 10:00 am
Perspectives from Inventory Counsel
Mr. Cherner has served as court-appointed inventory counsel. He will explain inventory counsel’s functions. These range from securing client files, returning those files, to obtaining information about a lawyer’s client trust account and making appropriate disbursements. Mr. Cherner will review Colorado Rule of Civil Procedure 251.32(h), which pertains to inventory counsel and has important provisions related to confidentiality. He will offer participants a first-hand perspective on how inventory counsel works so that they are aware of the concept from a succession planning perspective and should they wish to volunteer their time to help another lawyer in this respect.
Presented by Philip A. Cherner, Esq., Retired
10:00 – 10:30 am
What You Can Do Now to Prepare for the Unexpected 0.6 Ethics Credit
Do not wait. Succession planning is something lawyers can work on daily. This is because a well-organized practice is one that someone acting as inventory counsel can easily wind-down or someone purchasing can do so in an orderly manner. The Colorado Rules of Professional Conduct related to diligence, client communications, and trust account record keeping are ones all lawyers must follow. Taking time to make sure you follow their requirements now in your practice is a proactive step that will benefit you, your clients, and your staff now, as well as anyone who must step in and assume control over the practice if something happens.
- C.R.P.C. 1.3
- C.R.P.C. 1.4
- C.R.P.C. 1.15D
- C.R.P.C. 1.16A
Presented by Jonathan P. White, Esq., Professional Development Counsel, Office of Attorney Regulation Counsel
10:30 – 10:45 am
Networking Break
10:45 – 11:15 am
Succession Planning: Preparing to Close Your Practice 0.6 Ethics Credit
For nearly the last ten years, Ms. Cashman has been presenting CLEs on the topic of “succession planning” for solo and small firm lawyers. She has been designing and sharing limited powers of attorney (along with other disability and death related documents) with her colleagues with the idea that even “shoeless cobblers” can prepare a workable plan for their solo or small firm practice! Few of us enjoy talking about death, but because we can’t predict which of us will “die with our boots on” – it’s best to have a plan for both certain uncertainties (disability) and the uncertain certainty of death. Before the documents can be prepared and executed however, certain arrangements must be made with trusted colleagues. These arrangements and delicate conversations are part of the big picture because, without a willing colleague named to assist an attorney, the documents won’t go far. Ms. Cashman will go over her stock forms with suggestions about how to use them.
- C.R.P.C. 1.7
- C.R.P.C. 1.9
Presented by Barbara E. Cashman, Esq., The Law Office of Barbara E. Cashman, LLC
11:15 – 11:45 am
Succession Planning in Action: A View from a Small Firm Practitioner
Ms. Whitmore spent decades on the Front Range practicing law in several firms, including her own small firm and large firms Brownstein Hyatt, Patton Boggs and Jackson Kelly. Then, she had a chance to move to the West Slope, a quieter way of life with less traffic and Telluride skiing an hour away. She has been county attorney for Ouray County and is currently county attorney for Montrose County. But, another opportunity presented itself: a number of area lawyers in Ouray, Montrose and Delta retired, left private practice, or wanted to prepare for retirement. There was a need for an attorney with water law and other real property and litigation experience. So, she became a partner with Michael Hockersmith in Hockersmith & Whitmore, LLC. Mr. Hockersmith is planning to retire in the next 15 months, and his preparations for retirement included finding a partner to take over the firm. She will discuss the considerations and issues to consider in succession planning from a practical and West Slope perspective.
Presented by Martha (Marti) Whitmore, Esq., Hockersmith & Whitmore, LLC
11:45 am
Adjourn
Location Information
S1 - East Huddle Room
1290 Broadway Street, 17th Floor
Denver, CO 80203
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1290 Broadway Street, 17th Floor
Denver, CO 80203
Registration Fees
| Non Member | $299.00 |
| CBA Member | $239.00 |
| Paralegal/Legal Support Staff | $149.00 |
| New Lawyer Edge Partner | $119.50 |
| ELITE Pass Holder | $0.00 |
- General Credits: 3.00
- Ethics Credits: 1.80
- EDI Credits:
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Sponsor Information
- The Changes to Rule 16: Prior Authorization and Denial
- Cumulative Trauma
- The Inside Track at the Division of Workers’ Compensation