The Law Practice Exchange

06/02/2026

We're still thinking about the energy in the room during Mass Torts Puerto Rico. Hundreds of experts coming together to discuss developments in the legal space, in the jurisdiction that's shaking it up for private equity.

Our CEO, Tom Lenfestey, sat down with Jon and Marc after his MSO/PE panel to chat about what's happening in the industry. This is a conversation you won't want to miss.

06/01/2026

A business broker can close your deal. They can't tell you who you are when it's over.

For most attorneys, the practice isn't just an asset—it's the structure everything else was built around. Clients, team, reputation, routine. A generalist exit advisor knows how to price and sell a business. That's not the same as understanding what it costs to leave one.

The attorneys who navigate this well knew what they were walking toward. Not just what they were walking away from.

These insights and so much more are available in Tom Lenfestey's new book, The Exit Blueprint, available June 10 on Amazon. Pre-order now: https://a.co/d/0iHnkHbc

05/28/2026

One of the first questions a buyer asks isn't about revenue. It's about people.

Who runs the day-to-day? Who do the clients actually call? If the answer to both is "the founding partner" and that partner is leaving, the deal gets harder. The valuation gets softer. The transition gets riskier.

Team stability is a core component of firm value, and most sellers don't realize how much weight it carries until they're already in due diligence. A firm with a capable, tenured support staff and distributed client relationships is a fundamentally different asset than one built around a single rainmaker. Buyers know this. The market prices it accordingly.

The good news: this is fixable, and it doesn't require years of lead time. It requires intentional structure: documenting roles, building redundancy into client relationships, and giving your team a reason to stay through a transition.

That's not just good succession planning. That's how you protect what you've built.

The Exit Blueprint covers the people side of a firm transition in depth, because the deal is only as strong as the team behind it. Available June 10 on Amazon. https://thelawpracticeexchange.com/the-exit-blueprint-book/

05/25/2026

The law firm M&A market looks nothing like it did ten years ago.

A decade ago, most firm transitions were quiet, internal affairs—a senior partner passing the book to a junior one, a handshake deal, a slow fade. Today, that model is breaking down. Private equity has entered the space. Non-lawyer ownership structures are expanding. Buyers are more sophisticated, better capitalized, and moving faster than most sellers expect.

At the same time, the supply side is surging. The average age of a law firm owner in the U.S. keeps climbing, and a significant percentage have no succession plan in place. That gap between unprepared sellers and aggressive buyers creates both risk and opportunity depending on which side of the table you're on.

What hasn't changed: the firms that plan ahead still win. The ones that wait still leave value behind.

The Exit Blueprint was written for attorneys who want to understand this market before they're in it, not after. Available June 10 on Amazon. https://a.co/d/01Nf8hOd

05/22/2026

The word "retirement" carries a lot of weight—and not always the right kind.

For many attorneys, it signals slowing down, stepping back, letting go.
Exit planning isn't that. It's a strategic transaction you design on your own terms. And the moment you stop treating them as the same thing, the entire process looks different.

That's the first shift The Exit Blueprint makes. More to come.

Pre-order now on Amazon—launching June 10. https://a.co/d/0gGJ3Nz2

05/21/2026

Most law firms have a succession plan on paper. What they don't have is a compensation plan that supports it.

Our Director of Financial Analysis & Valuations, Brenda Barnes, just published a piece in Attorney at Work on exactly why succession stalls...even when everyone agrees it's a priority.

The core problem: origination credit structures make it financially irrational for senior partners to hand off client relationships. The succession plan didn't fail. It just wasn't in sync with the comp plan.

Brenda breaks down three things firms can do right now to fix the disconnect. Some of them might just surprise you. ⬇️

Brenda Barnes | Put your compensation plan and succession plan side by side. Does the comp plan reward or punish the behaviors succession requires?

05/19/2026

ICYMI: The Exit Blueprint by Tom Lenfestey releases in less than a month. And if you're a law firm owner at any stage in your career, this is a read you won't want to miss. Every attorney exits eventually—and understanding your options can help lock down your legacy.

Packed with actionable advice, case studies, and "Tom's Takes" on common sale missteps, The Exit Blueprint puts all of LPE's guidance in one place.

Pre-order your digital copy now or order a paperback on June 10th. https://a.co/d/0bjlU7qg

05/05/2026

"The attorney still owns the law firm. What changes is the back office."

Want to learn more about MSOs? Start with Michael Di Gennaro and Melissa S. of Velocity Work's latest podcast episode. Available on all podcast platforms and YouTube.

05/01/2026

Big news: Tom Lenfestey's The Exit Blueprint is now available for pre-order on Amazon—and it's already hit the #1 New Release in the Law Practice category.

This is the book law firm owners have been asking for. A practical, no-fluff guide to valuing your practice, finding the right buyer, and exiting on your terms.

eBook: Available now
Paperback: Out June 10th

Pre-order your copy at the link in the comments. Congratulations, Tom! https://a.co/d/0adCziih