Why attorneys need planning they do not sell themselves
Attorneys spend their careers managing other people's risk. They draft the agreements, structure the deals, and advise the clients. The irony — and it is an irony every lawyer in the room recognizes — is that the professional whose job is prudence often postpones the personal version of it indefinitely.
The reasons are structural. Partner-track attorneys are too busy in the building years to sit down with a planner. Once they make partner, the income is good enough to paper over the gaps. The retirement plan at the firm was set up by someone else and nobody has touched it. The disability policy covers a salary number that stopped being the right number years ago. The buy-sell agreement lives in a drawer.
We work with attorneys and law firms specifically because the planning problems are predictable and the tolerance for vague advice is low. Attorneys want the math shown. They want the assumptions visible. They want a written plan they can read like a brief. That is what we deliver.
What working with us looks like
First meeting — at your firm or ours
We meet at your office, at our Paramus location, or at your home — whichever fits the schedule. Bring your K-1, the firm's retirement plan summary, your insurance policies, and the buy-sell agreement if you have one. We ask what the firm needs, what the household needs, and where the gaps are.
Second meeting — the written plan
We return with a written plan that connects the firm and the household. Retirement plan evaluation, partner compensation analysis, insurance review, personal cash flow, and the transition timeline. The plan is yours to keep whether or not you hire us.
A note on fit
When this might not be right for you
We are not the right fit for every attorney or firm. Some situations where we would say so:
- Anyone looking for a firm that will also do the legal work — drafting buy-sell agreements, partnership agreements, or estate documents. We plan the finances and coordinate with your attorney on the legal structure.
- Anyone who wants active trading or speculative investment strategies. We build long-term, diversified portfolios.
- Anyone looking for a broker to sell the firm's retirement plan and collect commissions on it. We are fee-only. We evaluate plans, we do not sell them.
- Anyone whose firm has more than fifty employees and needs a dedicated benefits consultant. We work best with small and mid-sized firms.
If that describes your situation, we would rather say so now.
Frequently asked questions
Do we need a minimum firm size to work with you?
No. We work with solo practitioners, small partnerships, and mid-sized firms. There is no minimum firm size or revenue requirement. The planning fee depends on the complexity of the engagement.
How is planning for an attorney different from planning for other high-income professionals?
The main differences are the partnership structure, the K-1 income, the variable draws, the self-employment tax exposure, and the firm-level retirement plan that directly affects what the partners can shelter. Most household-only advisors do not look at the firm side. We start there.
Can you review our firm's existing retirement plan?
Yes. We evaluate the plan's fees, investment menu, contribution structure, and whether a different design would shelter more income for the partners while still serving the staff. We do not sell retirement plans and we collect no commissions on them.
What should a law firm buy-sell agreement cover financially?
The agreement should address valuation methodology, funding mechanism — usually life insurance and disability buyout insurance — payment terms, and triggering events. The legal drafting is your attorney's work. The financial planning around the funding and the valuation is ours.
Do you work with our firm's CPA and outside counsel?
Yes — and we expect to. The planning works best when the financial advisor, the CPA, and the attorney are coordinated. We handle the introductions and the working-document exchanges. If the firm does not have a CPA we trust, we will suggest one.
When should a law firm partner start planning for transition?
Seven to ten years before the target date. That gives enough time to groom successors, restructure the compensation model, update the buy-sell agreement, and build the personal financial bridge. Starting two years out usually means leaving money and options on the table.
Where do you meet with attorney clients?
Most first meetings happen at the attorney's office or at our Paramus location. We also meet at your home or on video when the calendar requires it. In-person service is the default.