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Package includes:

On Demand Module  l  Electronic booklet  l  PowerPoint Presentation

Package Fee (incl GST)

  • $149 - Law Society members and Associate members
  • $215 - Non-members

Note: Access to the online files is via your "My CPD" page. If you would like to purchase multiple packages, please contact us here.

On Demand Module

Presentation time: 90 minutes
1.5
CPD HRS

Well before you retire it is vital to have an effective succession or exit plan to protect your firm’s reputation and the client relationships that you have worked so hard to foster. Good planning will also facilitate a smooth transition. This module will discuss the process of succession or exit planning and provide practical guidance on the key factors to consider.

Topics will include:

  • Experiences of a sole practitioner in winding up a practice
  • Law Society Inspectorate expectations, guidance and role in the process for both sole practitioners and firms
  • Planning for trust account supervisor succession
  • Planning for retirement as a partner from a firm, from both a personal and business perspective.

Learning objectives

By completing this module you will obtain:

  • Understand the importance of meticulous planning for your retirement.
  • Appreciate the important aspects for your particular circumstances.
  • Be familiar with the steps required for a safe and smooth retirement and the process for planning and carrying them out.

Electronic paper 

Authors: Warwick Deuchrass, Kane Smith, Sue Styants
Published: 12 February 2025
Pages: 10

Introduction

The key to a successful retirement/exit strategy is to make a decision, set a date and stick to it. It is crucial to set this date well in advance, so that you have sufficient time to action and meet all exit requirements by the date you have set and avoid the temptation to chicken out and defer.

In my case I had started giving serious consideration to retirement timing when I was 62, initially aiming for June 2023 when I turned 65, but eventually deciding the end of a financial year would be a cleaner termination date for GST de-registration and other related accounting matters. Finally in January 2023, when I acknowledged to myself that it was time “to call time” I set the 31 March 2024 as my date of retirement and immediately started on the planning. I remained resolute throughout the process to exit on this date. In addition to timing the other decision I made was to wind up the practice and close the doors, rather than sell or merge with another firm – my reason for that was that I wanted a clean exit without the need to hang around as a consultant. (Continued...)

PowerPoint Presentation

These are the slides included in the presentation.

DEUCHRASS Warwick-946 SMITH Kane-522 STYANTS Sue-966
Warwick Deuchrass
Retired Lawyer
Queenstown		 Kane Smith
Law Society Inspectorate
Christchurch		 Sue Styants
Retired Lawyer
Auckland

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