Succession Planning – How to Prepare for New Ohio Succession Plan Requirements
Planning for the future is crucial for every lawyer. An untimely death, disability or disciplinary action can create a significant lapse in representation. Creating a succession plan protects your clients, your business interests, and the legal system itself if something unexpected happens. This is especially true for lawyers who work alone.
As stated in the January 2024 issue of the Boyk Law Report, Ohio does not expressly mandate a succession plan, but the Supreme Court recently amended its rules. Beginning January 1, 2025, attorneys engaged in the private practice of law must disclose whether they have a plan in place to manage the attorney’s work or caseload in the event the attorney becomes unable to practice law, either temporarily or permanently.
Comment [5] to Rule 1.3 of the Rules of Professional Conduct provides that in order to prevent neglect of client matters in the event of a sole practitioner’s disability or death, the duty of diligence may require sole practitioners to prepare a plan that designates another competent lawyer to assume representation. In upcoming issues of the Boyk Law Report, we will talk with other law firms and sole practitioners about their succession plans, and strategy to fulfill the new requirement.
If you’re a private practice attorney looking for more details on succession planning or thinking about retiring from law in the future, we’d love to chat with you. We can discuss how we might assist you in safeguarding your clients, and your practice.
