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TRANSITIONING PLANNING SHOULD INCLUDE LEGACY

Working on a client engagement that includes the challenges of transitioning planning for partners in their early 60s, I have been developing a  series of "Legacy exercises."  The Legacy Bucket is one of the "5 Buckets" at the core of our *Next Generation, Next Destination* assessments.
Ideally everyone by age 50 should be thinking about legacy. Starting earlier is even better, but busy people, unless they are involved in philanthropy in a big way through their adult life, tend not to think about legacy. To some it conjures up something related to the end of life - but really it is much more than that. Legacy is about work, family, friends, causes, mentoring - what one passes on to the next generations in as broad a sense as you would like to think about it. It is certainly about more than money or a financial legacy. Primarily it is about values and about continual learning.
So here are some questions to begin thinking about.

Continue reading "TRANSITIONING PLANNING SHOULD INCLUDE LEGACY" »

Boomer Partner Quiz for Firms

There is no denying the inevitable. Is your firm ready to cross "The Boomer Bridge"? There are a lot of Baby Boomers creeping up to what is traditionally considered retirement age, and some of them don't want to let go and go. Others have been working a lot of hours for many years, and would be happy to cut back. Often there is no choice other than working full out 24/7 or leaving.

The issues relate to inter-generational relations in the workplace as well as personal transitional planning. Most firms have no process in place for transitioning planning and achieving a win-win for both the individuals and the firm. Is your firm prepared? Here's a short quiz. http://www.pdcounsel.com/BoomerQuiz.html

Phyllis Weiss Haserot

www.pdcounsel.com    pwhaserot@pdcounsel.com

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