![\"A](\"https:\/\/i0.wp.com\/www.attorneyatwork.com\/wp-content\/uploads\/2026\/03\/law-firm-emergency-plan.jpg?resize=770%2C495&ssl=1\" "\\"\\"")
Table of contents<\/h2>\n\n- What Happens to Your Law Firm if You Can\u2019t Show Up on Monday?<\/a>\n
\n- 75% of Lawyers Plan to Work Past 65 \u2014 Only 30% Actually Do<\/a><\/li>\n<\/ul>\n<\/li>\n
- What Goes in a Law Firm Emergency Plan (Hint: It\u2019s Just 5 Things)<\/a>\n
\n- 1. A Triage Attorney<\/a><\/li>\n
- 2. Master Passwords and Access Credentials<\/a><\/li>\n
- 3. IOLTA and Trust Account Information<\/a><\/li>\n
- 4. A Vendor and Contacts List<\/a><\/li>\n
- 5. Current Valuation or At Least a Rough Sense of What Your Firm Is Worth<\/a><\/li>\n<\/ul>\n<\/li>\n
- Why Most Law Firm Owners Skip Succession Planning (and Why It Backfires)<\/a><\/li>\n
- How to Build Your Law Firm\u2019s Emergency Plan This Week<\/a><\/li>\n<\/ul>\n<\/div>\n
You would never let a client run a business without basic protections in place. No operating agreement, no buy-sell provision, no plan for what happens if a key person disappears tomorrow. You\u2019d tell them they were being reckless.<\/p>\n
So let me ask you something: <\/p>\n
What Happens to Your Law Firm if You Can\u2019t Show Up on Monday?<\/h2>\n
Not retirement. Not a planned exit. I mean the unexpected. A health crisis. An accident. Something that pulls you out of your practice with zero warning. I\u2019ve spent over a decade advising law firm owners on transitions and sales, and the pattern I see most often isn\u2019t a bad deal or a lowball offer. It\u2019s an owner who built a great practice and never created a basic emergency plan for it. The firm that was their life\u2019s work becomes a crisis their family has to manage without a roadmap.<\/p>\n
75% of Lawyers Plan to Work Past 65 \u2014 Only 30% Actually Do<\/h3>\n
Here\u2019s a statistic that should stop every firm owner mid-sip. According to the ABA Profile of the Legal Profession<\/a>, roughly 75% of attorneys plan to work past age 65, but only about 30% actually do. The gap between intention and reality is enormous, and it\u2019s usually filled by health problems, burnout, family obligations or market shifts that nobody planned for.<\/p>\nThat means there\u2019s a very good chance your exit from your firm won\u2019t happen on your terms unless you\u2019ve done the work ahead of time. And I\u2019m not even talking about a full succession plan<\/a> or a sale. I\u2019m talking about the bare minimum: a set of instructions someone can follow if you\u2019re suddenly unavailable.<\/p>\nWhat Goes in a Law Firm Emergency Plan (Hint: It\u2019s Just 5 Things)<\/h2>\n
I call it the Red Folder. It isn\u2019t complicated. It\u2019s not a 50-page business continuity document. It\u2019s a single folder \u2014 physical, digital or both \u2014 that contains the five things someone would need to keep your practice from imploding in the first 72 hours of your absence.<\/p>\n
Here\u2019s what goes in it.<\/p>\n
1. A Triage Attorney<\/h3>\n
This is the person \u2014 a colleague, a friend from the bar, someone you trust \u2014 who has agreed in advance to step in and cover your active matters if you can\u2019t. Not permanently. Just long enough to keep deadlines from blowing and clients from panicking. Many state bars actively encourage or require this kind of arrangement. The Oregon State Bar\u2019s \u201cPlanning Ahead\u201d guide<\/a> is one of the best resources out there for setting this up. If you don\u2019t have this conversation with someone, your family will be scrambling to find a stranger willing to take it on while they\u2019re already dealing with a crisis.<\/p>\n2. Master Passwords and Access Credentials<\/h3>\n
Your practice management system, email, court filing accounts, cloud storage, financial accounts. If nobody can log in, nobody can help your clients. Write them down. Store them securely. Tell someone where they are.<\/p>\n
3. IOLTA and Trust Account Information<\/h3>\n
This is the one that can create real legal and ethical exposure. Under ABA Model Rule 1.15<\/a>, your trust accounts need to be accessible, documented and reconciled. If something happens to you and nobody knows where client funds are or how to account for them, you\u2019ve created a problem that goes well beyond business continuity \u2014 you\u2019ve created a bar complaint waiting to happen.<\/p>\n4. A Vendor and Contacts List<\/h3>\n
Who handles your IT? Who\u2019s your landlord? Your malpractice carrier? Your bookkeeper? The attorney on the other side of your three biggest active cases? These are calls that need to happen fast, and nobody should have to dig through your inbox to figure out who to contact. Your law firm emergency plan should have an updated list of your important contacts.<\/p>\n
5. Current Valuation or At Least a Rough Sense of What Your Firm Is Worth<\/h3>\n
This matters because if your absence becomes permanent, your family or estate will need to make decisions about the practice. Selling it, merging it, winding it down \u2014 all of those conversations start with understanding what the firm\u2019s value actually is. ABA Model Rule 1.17<\/a> governs the sale of a law practice and outlines specific requirements around client notification and fee protection. Without a valuation baseline, whoever inherits this decision is negotiating blind.<\/p>\nWhy Most Law Firm Owners Skip Succession Planning (and Why It Backfires)<\/h2>\n
I get it. Nobody wants to think about worst-case scenarios, especially when business is good and retirement feels like a distant concept. And there\u2019s a particular kind of resistance among attorneys<\/a> that I\u2019ve come to recognize: the belief that planning for your absence is somehow tempting fate, or that it signals you\u2019re on the way out. A 2023 Bloomberg Law report<\/a> found that the vast majority of small firm owners have no written succession plan at all \u2014 even as the profession faces an unprecedented wave of retirements.<\/p>\nIt\u2019s the opposite. <\/p>\n
\nHaving an emergency plan in place is what lets you keep running your firm with confidence. It means you\u2019re not one bad day away from a catastrophe that affects your clients, your staff and your family simultaneously.<\/p>\n<\/blockquote>\n
Think about it from your clients\u2019 perspective for a moment. If the attorney they trust with their most important legal matters disappeared tomorrow, would they have any idea what happens next? Would anyone at your firm? Would your spouse?<\/p>\n
How to Build Your Law Firm\u2019s Emergency Plan This Week<\/h2>\n
The Red Folder isn\u2019t a six-month project. You can build a working version in an afternoon. Pick the triage attorney and have the conversation this week. Spend an hour compiling your passwords and key contacts. Pull your last IOLTA reconciliation and put it somewhere accessible. If you\u2019ve never had a valuation done, at least document your annual revenue, overhead, and a rough owner\u2019s compensation number so whoever needs it has a starting point.<\/p>\n
Related: Law Firm Marketplace Realities for Small Law Firms<\/em><\/a><\/p>\nYou already know this is the right thing to do. You tell your clients some version of it every day. The only difference is that this time, the client is you.<\/p>\n
Image \u00a9 iStockPhoto.com. <\/p>\n
\n![\"\"](\"https:\/\/i0.wp.com\/www.attorneyatwork.com\/wp-content\/uploads\/2023\/06\/AttorneyatWork-Logo-%C2%AE-2021-1.jpg?resize=372%2C106&ssl=1\" "\\"\\"")
<\/a><\/figure>\n\nSign up for Attorney at Work\u2019s daily practice tips newsletter here<\/a> and subscribe to our podcast<\/a>, Attorney at Work Today.<\/strong><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"Tom Lenfestey | What happens to your firm if you can\u2019t show up on Monday? Your emergency plan should include these five things to keep your practice from imploding in your absence. I call it the red folder. The post Every Lawyer Needs a \u2018Red Folder\u2019: 5 Things That Keep Your Firm Alive Without You […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17],"tags":[],"class_list":["post-147030","post","type-post","status-publish","format-standard","hentry","category-legal_matters"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts\/147030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/comments?post=147030"}],"version-history":[{"count":0,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts\/147030\/revisions"}],"wp:attachment":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/media?parent=147030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/categories?post=147030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/tags?post=147030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
- \n
- 75% of Lawyers Plan to Work Past 65 \u2014 Only 30% Actually Do<\/a><\/li>\n<\/ul>\n<\/li>\n
- What Goes in a Law Firm Emergency Plan (Hint: It\u2019s Just 5 Things)<\/a>\n
- \n
- 1. A Triage Attorney<\/a><\/li>\n
- 2. Master Passwords and Access Credentials<\/a><\/li>\n
- 3. IOLTA and Trust Account Information<\/a><\/li>\n
- 4. A Vendor and Contacts List<\/a><\/li>\n
- 5. Current Valuation or At Least a Rough Sense of What Your Firm Is Worth<\/a><\/li>\n<\/ul>\n<\/li>\n
- Why Most Law Firm Owners Skip Succession Planning (and Why It Backfires)<\/a><\/li>\n
- How to Build Your Law Firm\u2019s Emergency Plan This Week<\/a><\/li>\n<\/ul>\n<\/div>\n
You would never let a client run a business without basic protections in place. No operating agreement, no buy-sell provision, no plan for what happens if a key person disappears tomorrow. You\u2019d tell them they were being reckless.<\/p>\n
So let me ask you something: <\/p>\n
What Happens to Your Law Firm if You Can\u2019t Show Up on Monday?<\/h2>\n
Not retirement. Not a planned exit. I mean the unexpected. A health crisis. An accident. Something that pulls you out of your practice with zero warning. I\u2019ve spent over a decade advising law firm owners on transitions and sales, and the pattern I see most often isn\u2019t a bad deal or a lowball offer. It\u2019s an owner who built a great practice and never created a basic emergency plan for it. The firm that was their life\u2019s work becomes a crisis their family has to manage without a roadmap.<\/p>\n
75% of Lawyers Plan to Work Past 65 \u2014 Only 30% Actually Do<\/h3>\n
Here\u2019s a statistic that should stop every firm owner mid-sip. According to the ABA Profile of the Legal Profession<\/a>, roughly 75% of attorneys plan to work past age 65, but only about 30% actually do. The gap between intention and reality is enormous, and it\u2019s usually filled by health problems, burnout, family obligations or market shifts that nobody planned for.<\/p>\n
That means there\u2019s a very good chance your exit from your firm won\u2019t happen on your terms unless you\u2019ve done the work ahead of time. And I\u2019m not even talking about a full succession plan<\/a> or a sale. I\u2019m talking about the bare minimum: a set of instructions someone can follow if you\u2019re suddenly unavailable.<\/p>\n
What Goes in a Law Firm Emergency Plan (Hint: It\u2019s Just 5 Things)<\/h2>\n
I call it the Red Folder. It isn\u2019t complicated. It\u2019s not a 50-page business continuity document. It\u2019s a single folder \u2014 physical, digital or both \u2014 that contains the five things someone would need to keep your practice from imploding in the first 72 hours of your absence.<\/p>\n
Here\u2019s what goes in it.<\/p>\n
1. A Triage Attorney<\/h3>\n
This is the person \u2014 a colleague, a friend from the bar, someone you trust \u2014 who has agreed in advance to step in and cover your active matters if you can\u2019t. Not permanently. Just long enough to keep deadlines from blowing and clients from panicking. Many state bars actively encourage or require this kind of arrangement. The Oregon State Bar\u2019s \u201cPlanning Ahead\u201d guide<\/a> is one of the best resources out there for setting this up. If you don\u2019t have this conversation with someone, your family will be scrambling to find a stranger willing to take it on while they\u2019re already dealing with a crisis.<\/p>\n
2. Master Passwords and Access Credentials<\/h3>\n
Your practice management system, email, court filing accounts, cloud storage, financial accounts. If nobody can log in, nobody can help your clients. Write them down. Store them securely. Tell someone where they are.<\/p>\n
3. IOLTA and Trust Account Information<\/h3>\n
This is the one that can create real legal and ethical exposure. Under ABA Model Rule 1.15<\/a>, your trust accounts need to be accessible, documented and reconciled. If something happens to you and nobody knows where client funds are or how to account for them, you\u2019ve created a problem that goes well beyond business continuity \u2014 you\u2019ve created a bar complaint waiting to happen.<\/p>\n
4. A Vendor and Contacts List<\/h3>\n
Who handles your IT? Who\u2019s your landlord? Your malpractice carrier? Your bookkeeper? The attorney on the other side of your three biggest active cases? These are calls that need to happen fast, and nobody should have to dig through your inbox to figure out who to contact. Your law firm emergency plan should have an updated list of your important contacts.<\/p>\n
5. Current Valuation or At Least a Rough Sense of What Your Firm Is Worth<\/h3>\n
This matters because if your absence becomes permanent, your family or estate will need to make decisions about the practice. Selling it, merging it, winding it down \u2014 all of those conversations start with understanding what the firm\u2019s value actually is. ABA Model Rule 1.17<\/a> governs the sale of a law practice and outlines specific requirements around client notification and fee protection. Without a valuation baseline, whoever inherits this decision is negotiating blind.<\/p>\n
Why Most Law Firm Owners Skip Succession Planning (and Why It Backfires)<\/h2>\n
I get it. Nobody wants to think about worst-case scenarios, especially when business is good and retirement feels like a distant concept. And there\u2019s a particular kind of resistance among attorneys<\/a> that I\u2019ve come to recognize: the belief that planning for your absence is somehow tempting fate, or that it signals you\u2019re on the way out. A 2023 Bloomberg Law report<\/a> found that the vast majority of small firm owners have no written succession plan at all \u2014 even as the profession faces an unprecedented wave of retirements.<\/p>\n
It\u2019s the opposite. <\/p>\n
\n
Having an emergency plan in place is what lets you keep running your firm with confidence. It means you\u2019re not one bad day away from a catastrophe that affects your clients, your staff and your family simultaneously.<\/p>\n<\/blockquote>\n
Think about it from your clients\u2019 perspective for a moment. If the attorney they trust with their most important legal matters disappeared tomorrow, would they have any idea what happens next? Would anyone at your firm? Would your spouse?<\/p>\n
How to Build Your Law Firm\u2019s Emergency Plan This Week<\/h2>\n
The Red Folder isn\u2019t a six-month project. You can build a working version in an afternoon. Pick the triage attorney and have the conversation this week. Spend an hour compiling your passwords and key contacts. Pull your last IOLTA reconciliation and put it somewhere accessible. If you\u2019ve never had a valuation done, at least document your annual revenue, overhead, and a rough owner\u2019s compensation number so whoever needs it has a starting point.<\/p>\n
Related: Law Firm Marketplace Realities for Small Law Firms<\/em><\/a><\/p>\n
You already know this is the right thing to do. You tell your clients some version of it every day. The only difference is that this time, the client is you.<\/p>\n
Image \u00a9 iStockPhoto.com. <\/p>\n
\n<\/a><\/figure>\n\nSign up for Attorney at Work\u2019s daily practice tips newsletter here<\/a> and subscribe to our podcast<\/a>, Attorney at Work Today.<\/strong><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Tom Lenfestey | What happens to your firm if you can\u2019t show up on Monday? Your emergency plan should include these five things to keep your practice from imploding in your absence. I call it the red folder. The post Every Lawyer Needs a \u2018Red Folder\u2019: 5 Things That Keep Your Firm Alive Without You […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17],"tags":[],"class_list":["post-147030","post","type-post","status-publish","format-standard","hentry","category-legal_matters"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts\/147030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/comments?post=147030"}],"version-history":[{"count":0,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts\/147030\/revisions"}],"wp:attachment":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/media?parent=147030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/categories?post=147030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/tags?post=147030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
- 2. Master Passwords and Access Credentials<\/a><\/li>\n
- What Goes in a Law Firm Emergency Plan (Hint: It\u2019s Just 5 Things)<\/a>\n