Lawyerist Podcast · 2026-06-11 · 41 min
Most lawyers build their firms to serve clients, not to eventually leave them. But every law firm owner will exit someday, whether by choice, necessity, or life change. In episode 622 of the Lawyerist Podcast, Zack Glaser talks with Tom Lenfestey, attorney, CPA, and founder of The Law Practice Exchange, about why exit planning should not be treated as something reserved for retirement. Tom explains why succession planning often feels like the end, while exit planning gives firm owners more control over their future, their value, and their next act. They explore what makes a law firm transferable, why systems and data matter to buyers, and how lawyers can build firms that are worth more than just the owner’s name. Tom also breaks down how the market for law firm sales is changing, from private capital to alternative business structures, and why modern buyers are looking closely at financials, intake, marketing, operations, and owner independence. If you own a law firm, this conversation is a reminder that your firm can be more than a job you built for yourself. With the right planning, it can become an asset, a legacy, and a bridge to whatever comes next.
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