Planning for retirement is often complicated by the fact that many lawyers love their careers, and their self-image is grounded in being a lawyer. On the other hand, there are also lawyers counting the days until they close their private practices. A year or so ago, I attended an online program put on by another state bar association where one speaker said his most important advice is you need to be running toward something in retirement, not away from something.
“A funny thing happened on the way to my retirement” by lawyer Stratton Horres was published in the June 2022 ABA Journal. He echoes the advice of planning something to retire to. He tells his own story of how winding down has opened more opportunities. But the primary reason I am sharing this is his section on taking your own deposition to clarify retirement plans. His questions are worth considering whether you are a year from retirement or a decade.
If your retirement date is coming soon and you are in private practice, don’t forget the Oklahoma Bar Association Management Assistance Program provides a Closing Your Law Practice page with forms, checklists and other resources.