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Friday, July 26, 2013

Is Estate Planning the Next Hot Practice Area for Small Firms?

Estate PlanningStrategist:  Estate Planning: The Next 'Growth' Practice Area for Small Firms?:

Way back in 2007, Sonnenschein Nath & Rosenthal cut its estate planning practice. Many industry-watchers speculated that other BigLaw firms would follow suit. Years later, it seems they were correct. Solo and Small Firm guru Carolyn Elefant predicted, both then and now, that solo and small forms stood to gain from the vacuum left behind. We couldn’t agree more.

BigLaw has left the game. Meanwhile, the baby boomer retirement wave is cresting. You know who cares most about estate planning? People with children and senior citizens with assets. Demand is rising just as the biggest firms are retreating.

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