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120: The New Succession Planning Part 04 | The Real Cost of Delay: Building a Succession Plan That Actually Works
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Are you building a law firm that can outlive you? Or are you unknowingly putting everything at risk?
In this essential episode of Lead Counsel, host Tom Tona, founder and managing attorney at TonaLaw, returns with succession planning experts Daniel Feiman, Jonathan Hawkins, and Ed Alexander to deliver the blueprint every law firm owner needs.
This is not theory. This is strategy you can act on today. From real-world valuations to tactical life insurance structuring, this episode breaks down the concrete steps attorneys at any stage should take to protect their legacy, empower their firm, and ultimately walk away on their own terms.
What You’ll Learn:Why most succession plans fail before they even start
How to determine your “Out Number” and why it's the most freeing number you'll ever know
The critical role of proper life insurance and partnership agreements
How young attorneys can build with the exit in mind—starting now
The Intel Model of succession and why your firm needs to plan like a tech company
Red flags in valuations that buyers and sellers both miss
Why estate planning, tax counsel, and a competent CPA must be at the table
How to avoid the "missing middle" and secure your internal leadership pipeline
Why relying on “someday” is a costly myth in law firm succession planning
This isn’t just a podcast. It’s a roadmap to freedom, optionality, and generational impact.
Featured Guests:Jonathan Hawkins Website: Law Firm GC LinkedIn: Jonathan Hawkins
Daniel Feiman Website: Build It Backwards LinkedIn: Daniel Feiman Books on Amazon: Daniel Feiman
Ed Alexander Website: Alexander Business Law LinkedIn: Ed Alexander Books on Amazon: Ed Alexander
Your Host:Tom Tona Founder & Managing Attorney, Tonalaw Website: https://www.tonalaw.com LinkedIn: Tom Tona X: @NYPITrialGuy
This podcast is sponsored by TonaLaw.
TonaLaw is not just another law firm. They're defining what it means to fight for their clients. We get a lot of attorney referrals from across the country. We pay fee participation in all jurisdictions where it's permitted. We focus on integrity, innovation and relentless advocacy. TonalLaw is proving that the business of the law can scale without losing its heart. Do you want to see how a modern firm is built for impact and happy client referrals? Check out tonalaw.com mention again the Lead Counsel Podcast and I'm happy to get on the phone with you.
This episode is also brought to you by Meet Gabbi, the voice AI built for law firms. Gabbi answers your phones 24-7, qualifies leads and books consultations so you never miss another client. Imagine cutting intake time in half or giving every caller a five star experience. That's the power of Meet Gabbi. Learn more at meetgabbi.com mention the Lead Counsel Podcast. You can also hit me up and I'm glad to make an introduction to the owner.
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