Succession Planning Toolkit

The State Bar’s Succession Planning Toolkit was designed to help attorneys and other legal practitioners understand and apply the necessary elements to address the growing problem of unexpected and underprepared practice cessation. This comprehensive guide includes resources from the easiest and most essential—designating a custodian—to the more comprehensive, planning a transition out of practice.

The toolkit begins with an overview of the most basic and critical step in practice cessation, designating a custodian. Many attorneys are unfamiliar with the “task” or the “ask” of advanced designation. The toolkit contains a brief overview of your responsibilities as custodian and explains how to record your advanced designation as an attorney. It just takes a few minutes to designate your custodian using the State Bar’s online portal at texasbar.com/succession. And if you only do one thing, designate a custodian.

The toolkit then moves into instructions on file management, which can be used by both the practitioner and his or her designated custodian. This section includes sample clauses to help address retention, transition, and closing of client files.

A primer has also been included to address the guidelines of custodianship, disposition of client files, and the precarious task of closing IOLTA accounts. You will find an overview of Texas Rules of Disciplinary Procedure Part 13 and steps to take in the event of a temporary cessation of your practice.

The toolkit also includes tips and checklists with timelines to use as you begin to wind down your practice, including information on preparing your practice for sale and the ethical and transactional factors to consider.

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