The Law Practice Exchange

09/03/2026

For years, law firm buyers wanted earn-outs, percentage deals, minimal risk. Nobody was writing real checks for a law firm acquisition.

Then private equity entered the space - and proved what we'd been saying for over a decade: law firms have real, measurable value.

That single shift reset the market. It changed how buyers think, how sellers prepare, and what a "fair price" actually looks like.

You don't have to sell to PE for this to matter. But every law firm owner should understand what outside capital sees in a well-run firm - because that's exactly what any future buyer or successor will look for too.

08/31/2026

When buyers ask for normalized earnings, they're not questioning your financials.

They're trying to understand the business they'll own after the transition.

Some expenses are unique to the current owner.

Others won't continue once the firm changes hands.

By adjusting those items, buyers get a clearer picture of the firm's ongoing earning power.

That's important because valuation isn't based solely on what the firm earned last year.

It's based on what the firm is expected to earn under new ownership.

The stronger and more credible that story is, the more confidence buyers have moving forward.

At The Law Practice Exchange, we help law firm owners present financials that support stronger valuations and smoother transactions.

Book your strategy call:
https://meetings.hubspot.com/carrie-joyce/lpe-15-minute-strategy-call

08/28/2026

A signed offer is exciting.

But one question matters before anything else:

Can the buyer actually complete the transaction?

Financing is one of the biggest reasons deals slow down or fall apart.

Has the buyer spoken with a lender?

Are they prequalified?

Do they understand the cash required at closing?

Will financing approvals fit the transaction timeline?

These conversations should happen before an offer is submitted, not after.

A buyer who is financially prepared brings more than confidence.

They bring certainty.

And in any law firm transaction, certainty creates momentum.

At The Law Practice Exchange, we help buyers and sellers navigate transactions with preparation, clarity, and realistic expectations from day one.

Book your strategy call:
https://meetings.hubspot.com/carrie-joyce/lpe-15-minute-strategy-call

08/26/2026

A law firm exit doesn’t start when you’re ready to retire.

It starts years earlier - with the decisions you make around your team, client relationships, systems, revenue, and how dependent the firm is on you personally.

That’s what ultimately determines whether you’re simply winding down a practice… or handing over a business someone else genuinely wants to own.

For law firm owners, the bigger question may be: Are you building a firm that can eventually operate without you?

08/24/2026

Selling a law firm doesn't mean every case ends on closing day.

Contingency fee matters often continue for months - or even years - after a transaction is complete.

That raises important questions.

Who continues representing the client?

Who pays future litigation costs?

How are fees divided when the case eventually resolves?

These aren't issues to figure out after closing.

They're issues to define before the agreement is signed.

The strongest transactions address these details early, creating clarity for both buyer and seller while ensuring clients remain the priority.

At The Law Practice Exchange, we help law firm owners navigate the complexities that come with transitioning an active practice - not just the completed work.

Book your strategy call:
https://meetings.hubspot.com/carrie-joyce/lpe-15-minute-strategy-call

08/21/2026

Seller financing is common in law firm transactions.

But not all seller notes offer the same level of protection.

The real value isn't just how much is being financed.

It's how it's being repaid.

What's the interest rate?

When are payments due?

What happens if the buyer defaults?

Is the note secured?

Where does it rank if another lender is involved?

These details can significantly impact the outcome of a transaction.

A well-structured seller note protects both parties, reduces uncertainty, and creates a clearer path forward after closing.

Because in a law firm sale, the agreement behind the payment is just as important as the payment itself.

At The Law Practice Exchange, we help law firm owners structure transactions that balance opportunity with protection.

Book your strategy call:
https://meetings.hubspot.com/carrie-joyce/lpe-15-minute-strategy-call

08/19/2026

Not all law firm sales are structured the same.

In fact, two deals with the same purchase price can produce very different outcomes depending on how they're structured.

One of the biggest decisions is whether the transaction is an asset sale or an equity sale.

That choice can affect:
• Tax implications
• Assumed liabilities
• Buyer risk
• The overall complexity of the transaction

There's no one-size-fits-all approach.

The right structure depends on the firm, the buyer, and the goals of both parties.

That's why experienced buyers and sellers spend as much time discussing the structure of a deal as they do negotiating the price.

Because in the end, a great transaction isn't just about what you sell for.

It's about how the deal is put together.

At The Law Practice Exchange, we help law firm owners understand the options, evaluate the trade-offs, and structure transactions that align with their long-term goals.

Book your strategy call: https://meetings.hubspot.com/carrie-joyce/lpe-15-minute-strategy-call

08/14/2026

Not every client matter is complete on closing day.

Some files are still active.

Some hours haven't been billed.

Some contingency cases may not resolve for months - or even years.

So who owns that work?

It's one of the most important questions a transaction must answer.

How work in progress is valued, who completes it, and how future fees are allocated should all be clearly defined before the deal closes.

When these issues aren't addressed upfront, they can create confusion, delay negotiations, and even jeopardize the transaction.

The strongest law firm sales don't leave unfinished work open to interpretation.

They leave it documented.

At The Law Practice Exchange, we help law firm owners structure transactions that address every detail - before it becomes a problem.

If you're thinking about selling your law firm, preparation starts long before closing.
Book your strategy call:

https://meetings.hubspot.com/carrie-joyce/lpe-15-minute-strategy-call

08/13/2026

08/12/2026

Many law firm owners think the deal is done once the Letter of Intent is signed.

In reality, it's just the beginning.

After the LOI comes the work that determines whether the transaction actually closes:

Due diligence.

Financing approvals.

Definitive legal agreements.

Transition planning.

Meeting the conditions required to close.

This is where deals gain momentum…or lose it.

A well-structured LOI creates a roadmap, but it doesn't guarantee the destination.

The strongest transactions are built on preparation long before negotiations begin.

Because getting an offer is one thing.

Getting to the closing table is another.

At The Law Practice Exchange, we help law firm owners navigate every stage of the transaction, from the first conversation to a successful closing.

If you're thinking about selling your law firm, preparation starts long before the LOI is signed.

Book your strategy call:
https://meetings.hubspot.com/carrie-joyce/lpe-15-minute-strategy-call