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Plan for the unexpected

Plan for the unexpected

By Fiona McLeay

Practice Management 


unable to continue. Across Victoria there are around 6000 law practices that are run by either a sole practitioner or, in the case of an incorporated legal practice, a sole director. That means just over 25 per cent of all Victorian lawyers are the principal of a small law practice. Small practices usually don’t have a lot of resources to call upon when unexpected situations arise. They are particularly vulnerable to disruption in dire circumstances, such as if the principal falls ill and is unable to continue to look after the business, or dies unexpectedly. So what happens to the practice in these situations?

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