Selling, Winding Up or Leaving a Law Firm: ISBA Practice Resource Center

Articles

• Taking Down Your Shingle
  By Helen W. Gunnarsson, Illinois Bar Journal, January 2009
  Selling or otherwise closing your private practice? Don't forget to take care of important business before you do.
• Avoiding the Cliff-Hanger Ending
  By Karen J. Dilibert, Illinois Bar Journal, February 2005
  A dissolving law firm can end up sans malpractice coverage, especially if no one thought about insurance until after the split.
• Step Right Up…and Bust Some Professional Liability Insurance Myths
  By Karen J. Dilibert, Illinois Bar Journal, August 2006
  Among the myths: “When I retire and close my practice, I can let my policy lapse” 
• Fifty Ways to Leave Your Law Firm
  By Karen J. Dilibert, Illinois Bar Journal, June 2001
• What to Do When a Lawyer Dies
  By ISBA Legal Department
  What happens to a sole practitioner’s practice when he/she dies suddenly.
• Serving as Court-Appointed Receiver for a Missing Lawyer: A Step-by-Step Guide
  By John Cesario, Illinois Bar Journal, August 2004
  When a sole practitioner dies, disappears, or becomes disabled, Supreme Court Rule 776 empowers the court to appoint a receiver to wind up his or her practice. Here's what to do if you get the appointment.
• Retired, Inactive, In-House Lawyers Can Now Represent Clients Pro Bono
  By Helen Gunnarsson, Illinois Bar Journal, July 2008
  Supreme court rules let retired, inactive, and in-house lawyers working through legal-aid providers or other approved groups represent clients pro bono.

ISBA Advisory Opinions on Professional Conduct

• 07-02 Selling a law practice
• 03-06 Retaining responsibility for matter after leaving law firm
• 01-02 , 94-19, 94-14 Closing law firm and client files
• 95-02, 86-16 Access to files at former firm
• 92-12 Attorney inability to practice due to senility
• 84-13 Notification of associate’s departure from firm

Other Resources

• Illinois Supreme Court Rule 1.17: Sale or Transfer of a Law Practice
• ISBA Mutual Insurance

Have a suggestion for a practice resource? Please email Mark Mathewson.

These resources are presented as educational resources for for ISBA members. They should not be relied upon as a substitute for individual legal research, and the ISBA does not warrant the accuracy of the information that appears in them.