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Client Services is dedicated to carrying out the mission of Lawyers Mutual through providing education and risk management resources. Client Services focuses on nurturing relationships with insureds through various forms of communication. For more information call 800. 662. 8843, Follow us on Twitter @LawyersMutualNC, connect on our LinkedIn page, like us on Facebook.

What does succession look like? Is “succession planning” a nice way of saying it’s time to hang it up? The conversation surrounding succession planning can sometimes be overwhelming or swept under the rug altogether. Join us on November 7, 2018 at the Great Wolf Lodge in Concord, N.C. as Lawyers Mutual Consulting and Services President, Camille Stell and Tom Lenfestey, owner of the Law Practice Exchange, host a one-of-a kind workshop on succession planning. Follow our blog for our two part interview with event hosts to find out everything you need to know about the upcoming program.

While the November 7th workshop will dive into the business implications of succession and what it all looks like; the program also focuses on the “hard stuff.” The “hard stuff” is often the mental and emotional preparation that comes along with succession planning. President of Lawyers Mutual Consulting and Services, Camille Stell, often coaches legal professionals through career transitions. We had a chance to talk to her about the upcoming program and how it mentally prepares attorneys for succession planning.

LM: We constantly hear how the mention of transitioning out of practice is like nails on a chalkboard for most lawyers. How will this program help lawyers begin to think differently about succession planning?

CS: My hope is that lawyers will begin to see this as planning for “life after law” in a positive way. Planning enables them to leave a legacy, a multi-generational law firm and to take care of their clients during transition and after they have fully retired.

LM: How important is mindset in succession planning?

CS: I believe attitude is everything. If you view retirement as the end, it may well be. Instead, I encourage lawyers to get excited about what the future holds. Designing their own succession plan allows lawyers to feel more in control about their timeline, their financials, and how to have transition conversations with attorneys, staff and clients.

LM: What are some tools lawyers will gain from this program to help them begin to design their lives after law?

CS: They will receive a valuation of their law firm and a succession plan that is unique to their law firm. They will also receive coaching in how to determine their timeline and how to have transition conversations with family, their law firm and their clients. And finally, we will spend time discussing what life after law looks like for them.

LM: What would you say is the first step for attorneys in beginning to mentally and emotionally prepare themselves for succession?

CS: Imagine what they would do away from the office. For some lawyers, it might be to take a week of vacation with no plans to see what it feels like to be away from the office with unstructured time. For others, it might be to schedule a sabbatical and explore an extended time away. Working part-time or developing a wind-down schedule is also a great way to transition out of a full-time law practice.

 

Check out part 1 of this blog series here.

What does succession look like? Is “succession planning” a nice way of saying it’s time to hang it up? The conversation surrounding succession planning can sometimes be overwhelming or swept under the rug altogether. Join us on November 7, 2018 at the Great Wolf Lodge in Concord, N.C. as Lawyers Mutual Consulting and Services President, Camille Stell and Tom Lenfestey, owner of the Law Practice Exchange, host a one-of-a kind workshop on succession planning. Follow our blog for our two part interview with event hosts to find out everything you need to know about the upcoming program.

LM: Tom, you have spent years working with lawyers and helping them successfully transition out of practice. What have you found to be the most common challenges of succession planning for lawyers? 

TL: First, is most definitely a lack of knowledge as to the options, the process and the opportunities that putting a succession plan in place allows. The resources aren’t out there for lawyers like they are for other professionals like dentists, CPAs and doctors on how-to transition or what it involves. We have discussed with numerous attorneys over the years that they aren’t ready to stop practicing law, they don’t think they can transition or sell their practice or are considering this as an option for retirement ‘down the road.’ Transition planning is all about putting plans in place now in order to take control of your professional timeline and making the value-based transfer to a successor work. The second, is accountability. Sometimes our biggest service can be in explaining that transitioning your law firm through internal succession or external sale is a defined process and then making sure the attorneys or law firms involved continue to make progress and actually implement the plan. Lawyers are busy serving clients, running a professional business and those demands quickly sidetrack even the best intentions. Having a process for lawyer transition and being there to help make sure steps are achieved are key obstacles we strive to overcome.  

LM: What sets this program apart from other succession planning programs? 

TL: This is not your typical CLE program. Our goal was to build something very different on structure and delivery through live consultant lead training and analysis of their firm’s unique needs and structure. We have the education part of a typical program, but by working with lawyers before the event on their law firm’s valuation, succession criteria and overall discovery we are able to provide analysis the day of the event they can apply to what they are learning and actually implement walking out the next day. As well, we have focused on resources to make the process easier for implementation. All the tools, checklists, action plans and structure templates you may need will be also offered to attendees. 

LM: When should lawyers begin thinking about succession planning? 

TL: Now! By far the biggest issue we have is attorneys contacting us with short timelines. Transition takes time. In order to achieve your goals and what may work for your firm and successor, the more lead time the better. Once we start the process, the owner-attorney is put in control of the timeline and how he or she wants things to work. If they wait, life and business have a way of quickly getting in the way and creating situations which give you less control or choice. Starting now allows the attorney to control their firm’s legacy and their professional timeline.

LM: What do you hope participants will take away from this program? 

TL:  I hope they feel empowered. That may sound a bit too Tony Robbins like, but our goal is to truly show attorneys and law firms that succession planning is achievable and doesn’t have to be something you talk about, but never do. Make decisions now that will help maximize value for retirement, allow your legacy of what you have built over your career to continue with a qualified successor and continue the great service to clients and community. 

LM: For those who may not be familiar with the Law Practice Exchange, can you tell us how you connect those looking to sell and/or buy law practices? 

TL: Our two key service lines focus on helping attorneys who are owners of practices prepare for transition. One path involves internal succession to junior partners or non-equity attorneys which is the focus of this program. However, for many solo practitioners, small partnerships and sole or small group ownership firms they don’t always have the internal succession option. In those cases we take a marketplace approach to prepare their firm and confidentially market it to outside attorney or firm buyers. Those external buyers are typically attorneys or law firms focused on growth or not starting from scratch in certain markets and are fully willing to implement a transition-based acquisition where they can merge and deliver value for the attorney’s practice while also allowing them to transition on their desired timeline. We have had great success with the marketplace approach as well and it provides the perfect first option for certain attorneys or firms looking at transition or a second option where succession is desired, but not always achievable for one reason or another. 

LM: Who is encouraged to register for this event? 

TL: Lawyers who own or run their own law practice and don’t have a transition or ‘what-if’ plan for the day an unplanned event occurs or the day they want to start looking at slowing down and retiring. Again, discussing and implementing a succession plan doesn’t mean you are done or will be done practicing law in the near future. Instead, this program offers a plan where you are in control of your professional timeline. Retirement of lawyers is still 100%…at some point in time. It is never too early to start building out your plan for when that time comes.

LM: I notice that you have limited attendance to the first 20 registrants. 

TL: There is a great deal of work we perform before the event in order to analyze the law firm and their succession goals. We provide the law firm appraisal and transition analysis unique to their firm. Sign up early as we have work to do before the event. We firmly believe you will see the value for the cost and commitment of time to this process, and if you don’t, we are offering a money-back guarantee. 

Lawyers Mutual is excited to partner with ReelTime Creative Learning Experiences® to bring you this year’s seminar series, “The Accidental Lawyer: Terms of Engagement.” This new, live interactive workshop is designed to help lawyers be more alert to the vulnerabilities they may face in various non-office settings and to equip them with the best practices for defining their roles up front and setting clear boundaries with the person seeking advice. We had a chance to talk with ReelTime Creative Learning Experiences® founders Chris Osborn and Michael Kahn about ReelTime and the upcoming program.

Q: Can you tell us a little bit about yourselves?

Chris:  I was an associate and then a shareholder with Horack Talley in Charlotte for about 11 years, and practiced in the areas of construction and real property disputes, employment litigation, and general business and tort litigation. Somewhere along the way, through our work at ReelTime, I discovered my love for teaching.  So in 2012, I left practice to become an Assistant Professor at the Charlotte School of Law, where I taught Contracts, CivPro, and “Interviewing, Client Counseling, and Negotiations.”  When I left the school in 2015, I launched my own law firm, called Osborn Conflict Resolution.  After about a year as a solo practitioner, I was fortunate to have a couple of associates join me, and in addition to my work as a Superior Court Mediator, we handle a wide variety of litigation matters, including business breakups, construction and employment law disputes, and will caveats. We are all three trained in collaborative law, and are really having a lot of fun both applying that model in family law cases (where this particular form of dispute resolution got started) and helping adapt it to other areas of the law that have similar relational dynamics in play alongside the legal issues.

Michael: I am what I like to call a “recovering lawyer.” I practiced for 6 years with the New Jersey Attorney General’s office, before deciding to change careers and go back to grad school. I became a Licensed Professional Counselor in in North Carolina in 1996, and my therapy practice in Charlotte focused on helping clients deal with anxiety, depression, grief/loss, career satisfaction, and men’s issues. As you can imagine, I saw a good number of lawyers dealing with those kinds of issues over the years, and I have always felt an affinity for the legal profession thanks to my time in practice.  In addition to my work with ReelTime, I  co-facilitate grief groups for lawyers in Portland, Oregon and Vancouver, BC, where I relocated a few years ago. I also present training seminars and workshops on ethics, grief, wellness, diversity and inclusion and other topics throughout the U.S. and abroad for lawyers, mental health professionals and others, including for the U.S. military in Germany and Japan. In addition, I’m a professional coach and provide assistance with career issues, stress management, retirement, and coping with change.

Q: How did you two come together to form ReelTime CLE?

Michael: We served together on what was formerly called the Lawyer Support Committee for the Mecklenburg County Bar Association (and later renamed the LawyerLife Professionalism and Culture Committee). The Committee was comprised of lawyers and mental health professionals, and was charged with providing articles and CLE programs to help lawyers think proactively about mental health and wellness. Chris found out that I had led some men’s groups using movies as a means of opening up discussion, and since he had experienced that kind of approach positively, as well, he asked me about presenting a program for lawyers on stress management using Hollywood films.

Chris:  And Michael was just crazy enough to agree to give it a shot and then even crazier to let me help.  The MCB CLE coordinator, Lisa Armanini, was eager to find different ways to provide the relatively new mental health/substance abuse credit, so she was super-supportive.  We presented our first workshop for MCB in 2007, and folks responded really positively, so we kept on presenting, and realized that we worked really well together.  Eventually, she encouraged us to “take the show on the road,” and here we are now, over 10 years later. I also want to add that we have expanded beyond the legal world and are offering our programs to corporations and other professions because the issues we discuss in our workshops are universal.

Q: What sets your programs apart from traditional CLE programs?

Michael: We leverage both our love of good movies and our unique backgrounds (in mental health and education) to present programs that engage attendees and treat them as active participants in the learning process. Our basic hope is to provide an enjoyable learning experience, even when addressing such dreaded topics as ethics, diversity and inclusion, or mental health & substance abuse. We refuse to concede that any topic has to be mind-numbingly boring.

Chris:  Or that any topic is too “heavy,” or “awkward” to address.  As one brief example, we recently were asked to develop a program to address workplace sexual misconduct and harassment, particularly in the wake of the #MeToo movement. That’s definitely one that organizations of all sizes are feeling a need to address, but probably feeling uncomfortable about, as well. And for something like that, we don’t think you can bring about real change by just talking at people, reminding them of the importance of following the law, and warning them about lurking disaster. There are some really tricky challenges to work through in this arena, and we find that the more that people can participate in the process of understanding those challenges from all sides, and deciding what to do, the more motivated they typically will be to follow through with the hard work of change, when necessary.

Michael:  And we think that there is a place for some humor in addressing these topics.  Never to make fun of anybody, or to the point where we are not taking an issue seriously. But sometimes laughter can help break the tension of a difficult subject, and even open the door to a more meaningful discussion that can really get somewhere.

Q: What do you enjoy the most about developing your programs?

Michael: I think we both enjoy the challenge of creating a stimulating, enjoyable, and practically beneficial program. Our goal is to always engage the lawyer who comes because he or she needs the hours, but may be planning to catch up on legal work and only half-pay attention.

ChrisShh, you’re not supposed to tell people that happens! You never know who might be reading this.

Michael:  Oh, right!  Well, hypothetically speaking, we sort of take that on as a challenge.  And it‘s very rewarding to see folks who start with their laptops open–

Chris:    So they can take really good notes, I am sure!

Michael:  Oh, right! And by the end of the program, they are listening and maybe even offering up a comment or two.  Much of the best learning truly happens when lawyers of different ages, genders, level of experience, or practice settings share their challenges, and the various ways they have overcome them. 

Chris:    We love seeing those “light bulbs” go off when a participant realizes he or she is not the only one facing a given challenge, and that there are indeed ways of meeting it they may not have heard of yet, or hadn’t believed were possible. 

Q: We are so excited about the upcoming seminars! Can you tell attendees a little about what they can expect from “The Accidental Lawyer-The Rules of Engagement”?

Chris:  This was a fun one to make, and we hope it’s fun to watch! We basically have three different vignettes, each showing a lawyer being approached somewhere outside the office for legal advice. In each, the lawyer for one reason or another neglects to do what we all know we are supposed to do, in terms of setting up a formal attorney-client relationship, explaining how privilege and confidentiality work, etc.  We wanted to focus on real-life scenarios–where we are making lots of little decisions that we don’t necessarily even think about—and show how they can, if we are not careful, actually add up to serious trouble.  And since we wanted to show those “Oh, snap!” moments of realization, when it all hits the fan, we experimented with more of a “sitcom-with-confessionals” type format.  So the vignettes are kind of like Modern Family or The Office, where the characters occasionally break camera and reveal additional insights directly to the audience.

Q: What inspired this particular program?

Michael: We originally started our CLE programs using Hollywood movies. A few years ago, we decided to produce original films. We enjoyed our work with Lawyers Mutual which led us to develop a close relationship with Lawyers Mutual of California, we now have four online CLE films for them.

The creation of the “The Accidental Lawyer” arose in light of the issue of unintentionally creating a lawyer-client relationship, or taking on certain duties to a prospective client. This is an issue that malpractice insurers were seeing a lot.

Chris:  And they were really on board with not only providing substantive guidance about the governing legal principles and rules, but also exploring the underlying reasons why lawyers might forget or neglect to walk through the usual steps and cover themselves.

Q: Why do you feel it’s so important to make your workshops interactive?

Chris:    Well, aside from maybe subliminal foreign language lessons, folks tend to learn better when they are awake.  And even more so when they are interested and asked to contribute.

Michael: And because we have seen firsthand, time and again, that there is always a lot of wisdom in the room. Much more wisdom and experience than the two of us possess. We do offer our own stories and practical takeaways, for sure, but we believe that participants learn more and best from each other.

Q: Where can readers learn more about ReelTime and your programs?

Michael: Our website is www.reeltimecle.com, and there are additional trailers and program descriptions there. You can also email me at michael@reeltimecle.com and Chris at chris@reeltimecle.com.  Feel free to reach out to Camille Stell at Lawyers Mutual, or one of the claims team.

To check out the schedule for the upcoming CLE program and register for a program near you  click here.

 

 

If you’re planning to transition out of the law, be sure to comply with the State Bar rules on licensing and membership status.

They’re pretty simple, actually. To practice law in North Carolina, you must have an active license. If you retire but want to keep your options open for part-time practice or serving “of counsel” with a firm, you will need to keep your license active – which means you will have to continue paying annual dues and meeting the CLE requirements.

On the other hand, if you have no intention of practicing, you can petition for Inactive Status. This is the equivalent of resigning from the State Bar. If your petition is granted, you will be relieved of future dues and CLE obligations.

If your transition involves closing your office, you will want to follow the State Bar’s 14-point checklist that covers everything from wrapping up cases to disposing of files.

Moving to Inactive Status

This begins by filing a Petition to Transfer to Inactive Status. You can find the petition – along with detailed instructions for completing it – at the State Bar website.

The petition must be reviewed by the Administrative Committee and approved by the State Bar Council. The committee and the council meet quarterly in January, April, July and October of each year.  The dates of the meetings are posted on the website.  

If your request for inactive status is granted, an inactive order will be mailed to the address you provide on the petition within a couple of weeks after the meeting.

As an inactive member, you cannot practice law in North Carolina. This includes giving advice on North Carolina law or serving as a judge in any tribunal that requires an active state license. You are also prohibited from serving in an “of counsel” capacity and from holding yourself out as a lawyer, attorney, attorney at law or any other designation that implies that you are an active attorney who can provide legal services in North Carolina.

However, if you want to assist with the representation of Legal Aid clients (or other indigent persons served by a nonprofit corporation), you may petition for emeritus pro bono status.

If after going inactive you want to return to active status, you can submit a Petition for Reinstatement. There is a short form petition if you have been inactive for a year or less, and a long form petition for periods greater than a year.

Office Closing Guidance

You might not be aware of the State Bar’s checklist for Closing a Law Practice. It’s a valuable resource.

It provides instructions on how to notify clients and close out their files. It includes guidance on disbursing funds held in your trust account and delivering trust funds to successor counsel. And it recommends that you contact your malpractice carrier about continuing your liability coverage.

The checklist also lists some important ethics opinions applicable to office closings, such as: releasing files to clients, electronic storage of files, retention periods for closed files, and recycling office paper.

5 Practice Tips for Complying With Bar Rules

  1. Decide on your membership status. What are your future plans? Do you have an intention to continue practicing law in some capacity? If so, you will need to maintain an active license.
  2. Think before you leap. Before making a move, talk to family members, law partners and trusted colleagues. Even though you can request to reactivate your membership after going inactive, the process will take time and money.
  3. Contact the State Bar. Their administrative team can answer any questions you might have.
  4. Pay attention to the December 31 deadline. If you choose to go inactive, your petition must be postmarked on or before December 31st to avoid incurring membership fees for the following year.
  5. Wrap up Bar business before checking out. Your petition for inactive status will not be granted if you haven’t paid your dues or fulfilled your CLE requirements for the year in which it is filed.

 

For more tips check out our blog series here

 

Sources:

·         NC State Bar http://www.ncbar.gov/

·         NC State Bar Petition for Transfer to Inactive Status https://www.ncbar.gov/media/300292/instructions-for-petitioners-for-inactive-status-.pdf

Here’s a pop quiz: How long has Continuing Legal Education been mandatory in North Carolina?

(a) 50 years

(b) 30 years

(c) Forever

If you answered (b), congratulations. You are hereby exempt from all CLE requirements for the next 30 years.

Just kidding.

Although you might find it surprising to learn that up until 1988 continuing education for North Carolina lawyers was completely voluntary. Once you graduated from law school and passed the bar, you could do as much – or as little – self-study as you wished.

That changed in the mid-1980s, when the State Bar Council began debating a move to mandatory CLE. By that time, a dozen or so other states – including Virginia, South Carolina, Tennessee and Georgia – had already done so.

Mandatory CLE in 1988

The decision was finalized in 1988, when the Council – with a little help from Plato and Francis Bacon (see below) – approved a resolution establishing a Continuing Legal Education program. Here are excerpts from the January 1988 meeting in which the Council explained the rationale for its decision:

“Our society is constantly changing and new rights and procedures are recognized and adopted by the legislature and the courts each year. Word processors and research computers are accelerating the pace of the change…. There are new frontiers in the law, but they are not in the distance. Arbitration, mediation and other forms of alternative dispute resolution are not on the horizon, but are in our midst. These are relatively new and, perhaps, unfamiliar concepts and procedures for many lawyers.

There would seem to be no debate about the fact that continued training and education is critical to the successful and competent practice of law. The concerns with ethics in the practice, including problems of conflicts of interest, require continued diligence and thought by lawyers. The increased work by the Grievance Committee of The North Carolina State Bar and the Disciplinary Hearing Commission further evidence the need to continue to school lawyers in the area of professional responsibility.

Other professions have not been reluctant to require continuing education of their members. School teachers , doctors and accountants are just several of the professions that require some form of continuing education in order to maintain certification or good standing. What is the purpose and result of education? Plato said: ‘If you ask what is the good of education, the answer is easy. . . that education makes good men, and that good men act nobly because they are good.’ Bacon declared that men should enter upon learning in order ‘to give a true account of their gift of reason, the benefit and use of men.’

The legal profession can no longer maintain the fiction that lawyers know and forever will know all of the law after they have passed the bar examination. Lawyers must keep current.

Two hundred years ago, the United States Constitution guaranteed basic rights to the citizens of this country. Through a rigorous education process involving diligent and long study, lawyers are granted a license, a privilege, which, in effect, makes them the guardians of the rights of our citizens. If lawyers have become too busy in their day-to-day practice to attend programs to refresh and increase their knowledge and understanding of the law and their professional responsibilities, then they have indeed become too busy to properly and competently service their clients’ needs.”

Lawyers Mutual 2018-2019 CLE Schedule

Lawyers Mutual kicks off its 2018-2019 CLE series on October 30 in Asheville. Titled “The Accidental Lawyer – Terms of Engagement,” the seminar features a live, interactive workshop with ReelTime CLE designed to raise awareness of practice risks and sharpen practice skills.

The three-hour program runs from 9 AM to 12:30 PM and has been approved for two hours of ethics/professionalism credit and one hour of substance abuse/mental health awareness credit.

Future programs will be held in Greensboro, Clemmons, Concord, Raleigh, New Bern, Greenville and Wrightsville Beach.

Register or learn more here.