Making an Exit: Checklist for Closing a Solo Practice

Making the decision to close a solo practice is difficult enough without the unknown of how to go about it. Whether you plan to close your solo firm for years to come or foresee closing it in your near future, having a plan in place for when you do exit can make the transition easier for you, your staff and your clients.

This article from the ABA provides a checklist for closing solo practices. It also discusses the questions you need to ask yourself before, during and after exiting. Having this road map in place in advance will alleviate many of the stressors that accompany such a big career move.

Check out the article for tips on when to go public and who you should announce it to first, building your timeline based on client files, how to wrap up client trust accounts and more.