As the legal industry continues to adjust to life during a pandemic, some law firm transitions and transformations inevitably will lead to law firm closures and dissolutions. We have seen numerous headlines of law firms, big and small, actively tightening their belts. But if, or when, a law firm considers closing its doors, is dissolution the best option? And will its partners and clients be protected?
The end of a law firm marks a critical time for law firm partners, shareholders, and clients, and must be handled with the utmost care. Making the right decisions is essential to protecting the personal and professional interests of individual partners, their clients, and law firm employees. This is especially true now when there is so much uncertainty about the future of the legal market.More