Unwashed Advocate has a provocative post, "No Sale for Old Lawyers," ruminating about the psychology and economics of selling an old, established practice. Recommended reading for baby boomers in denial about mortality, and new lawyers in denial about the realities of practice. A taste:
The File Room: Old lawyers have file rooms. Big ones. Lots of files. Typically, correspondence with prior clients was silent as to the maintenance of files, making a huge headache for anyone who inherits this cavernous room and its pulpy contents. Therefore, this is a huge liability and fire hazard. Banker boxes, stacked a mile high, are strewn throughout the room in no particular order. One person knows the location of every file. Unfortunately, that person is the lawyer closest to death. Deductions for this have the potential of completely negating any value added by the included real estate.
