Succession planning for lawyers: Start now

My firm, where I’ve been since my call to the bar and am now a partner, has had succession plans in place for years. But when the LSO issued updated guidance, we found ourselves reviewing and modifying those plans to make sure they met the necessary standards. What I learned through that process was this: Succession planning isn’t boring. It’s a valuable exercise that makes you think critically about the future of your practice.

Why succession planning matters

If you’re an injury lawyer like me, succession planning comes with unique challenges. Many of our files are active for years and we often carry significant disbursements while working on contingency fee retainers. That means there’s no immediate revenue on many cases, making a smooth transition essential to ensure ongoing firm stability and client care.

Beyond financial concerns, think about your clients. They’ve trusted you with some of the most challenging moments of their lives. Without a plan, what happens to them? Who steps in? How do they get the representation they need if you’re suddenly unable to continue?

And let’s not forget compliance. The LSO requires lawyers to take reasonable steps to ensure their clients aren’t abandoned in the event of sudden incapacity or death. If you don’t have a plan in place, there could be serious professional and regulatory consequences.

Getting started: A practical approach

Lawyers often push succession planning aside because it feels like a long-term issue, but here’s the best advice I can give: Just start. Block a day off from the office—maybe even during a firm retreat—and work through it with colleagues.

To make things easier, here’s a step-by-step guide to creating a solid succession plan:

1. Identify a successor (or successors)

• Who will take over your files if you’re unable to continue?
• Will your successor be someone within the firm, or will you need an external arrangement?
• If you’re a solo practitioner, do you have a referral arrangement with a trusted colleague?

2. Plan for both short-term and long-term scenarios

• What happens if you’re temporarily incapacitated versus permanently unable to practice?
• Do you have an emergency plan that allows a designated lawyer to step in quickly?
• Is there a structure in place for a planned retirement or transition?

3. Address financial considerations

• For lawyers who work on contingency: How will ongoing disbursements be managed?
• If your practice is being sold or transitioned, how will its value be protected?
• Do you have agreements in place regarding firm ownership and revenue-sharing post-exit?

4. Organize key practice information

• Maintain a current list of active files and key contacts.
• Document office procedures so your successor can step in without disruption.
• Ensure client trust accounts and financial records are easily accessible and well-organized.

5. Review and update your plan regularly

• The lawyer you designate today might not be the right fit in five or ten years.
• Revisit your plan every few years or when major changes occur (e.g., a partner leaves, a successor’s circumstances change).
• Make sure your plan aligns with the latest LSO requirements.

The ideal succession plan

An ideal succession plan is one that gives you peace of mind. It should address all contingencies so that you don’t have to think about it every day—but it should also be reviewed periodically to stay relevant.

For me, succession planning isn’t about walking away from law. Retirement, if it happens, will likely mean shorter hours or a different role rather than a complete exit. But whenever that transition comes, I want to be confident that my clients are protected, and my firm remains strong.

So, if you haven’t started your succession plan yet, take my advice: Just start. Even if it’s outlining a basic framework, it’s better than having nothing at all. Your future self—and your clients—will thank you.

Gavin Cosgrove, is a Partner at Bergeron Clifford LLP. He's a proud member of the Ontario Trial Lawyers Association, the Frontenac Law Association, the County of Carleton Law Association, and the County of Lanark Law Association. He represents clients in auto cases, LTD denials, and negligence cases.

_Resources:

_{Succession Planning (LSO): https://lso.ca/lawyers/practice-supports-and-resources/topics/opening,-operating-or-closing-a-practice/succession-planning}

_{Succession Planning for your Legal Practice (LAWPRO): https://www.practicepro.ca/2024/03/succession-planning-for-your-legal-practice-2024/}