Professional Services
Succession Planning
for Professional Firms
Exit on your terms. Preserve what you built. Protect the clients, staff, and partners who depend on you.
The best firm successions begin 5–10 years before the owner intends to reduce hours. That runway is what allows an internal buy-in by a partner, a staged hand-off, or a strategic sale at peak value. We help Texas CPAs, attorneys, engineers, financial advisors, bankers, and real estate professionals design and execute successions that protect income, preserve legacy, and leave clients with continuity of service.
What We Deliver
Internal Succession to Partner
The most common — and often most rewarding — succession path for firm owners.
- Partner-track roadmap and buy-in mechanics
- Valuation and financing of the buy-in
- Phased ownership and governance transition
- Retiring partner consulting / of-counsel roles
Staged External Sale
When an internal successor is not available, a well-timed external sale can maximize price and continuity.
- Market positioning and deal readiness
- Strategic timing with EBITDA trends
- Coordinated with estate and tax planning
- Employment / consulting post-closing
Retirement & Income Planning
Aligning the legal transition with the retirement income you need.
- Deferred compensation and installment sales
- Qualified retirement plan coordination
- Office real estate retained as rental income
- Professional liability tail coverage
Contingency Planning
Even a great succession plan must anticipate sudden events.
- Sudden death or disability of the owner
- Key-person insurance and buyouts
- Emergency firm management arrangements
- Client continuity and files custodianship
Our Process
Vision & Timeline
Define when and how you want to step back — and who you hope will carry it forward.
Structure & Documents
Buy-in agreements, updated governance, insurance funding, and tax modeling.
Execution & Handoff
Staged authority transfer, staff and client transition, and a clean, confidential exit.
Frequently Asked Questions
Straight answers to the questions our clients ask most.
When should I start succession planning?+
Ideally 5–10 years before the target transition date. Internal buy-ins take time to identify a successor, let them build equity, and fund the purchase. External sales benefit from 2–3 years of deliberate EBITDA preparation.
Is an internal buy-in better than selling externally?+
For many firms, yes — it preserves culture, protects staff and clients, and can achieve strong net-of-tax economics. But it depends on whether an able successor exists and can fund the buy-in. External sales often deliver a higher headline price but require a post-closing employment commitment.
How is a partner buy-in typically financed?+
Most commonly through a seller-financed installment note secured by the partner's new equity, sometimes combined with a bank loan. The structure balances the partner's cash-flow reality with the retiring owner's income needs.
What happens to my firm if I pass away or become disabled before a succession plan is in place?+
Without planning, the firm may dissolve, with clients and files transferred to a custodian and significant value destroyed. Contingency planning — including key-person insurance, cross-purchase buy-sell, and emergency management — prevents this outcome.
Can I keep the office real estate and collect rent after I retire?+
Yes, and it's often an excellent strategy. The building is held in a separate LLC, which leases to the firm at fair-market rent. This preserves retirement income, diversifies exposure, and simplifies the operating-entity sale.
Ready to Protect Your Future?
Take the first step toward securing your legacy. Schedule a free consultation with our experienced team or contact us today to discuss your legal needs.
Call us directly: (888) 517-4575