Most professionals, especially those who own all or part of their firm, find it difficult to think about retirement. Many of those who practise their chosen profession into their sixties and seventies are reluctant to contemplate life without the mental stimulation, companionship, excitement and sense of fulfilment that their work provides. To a great extent, we are what we do; winding down raises questions about self-esteem and our value to society. Professional life increasingly conditio...

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 succ...