you want goodwill payments? give proper retirement notice
no transition – no goodwill.
by marc rosenberg
retirements & buyouts
if there is one takeaway in retirement planning, it would be this: “no transition – no goodwill.” here’s what i mean.
more on retirement: retirement plan funding? what funding? | vesting can cover part-timers, too | compromise is in order for some goodwill payouts | when retiring partners take a specialty with them | if clients leave, do you reduce retirement benefits? | three ways to calculate goodwill payable in partner buyouts, none of them great | eat what you kill? then maybe ‘book of business’ is for you | the ins and outs of aav for goodwill | 5 points to consider when paying out goodwill | clients leaving? time to reduce retirement benefits | 4 ways to decide how to pay out capital | partners may balk at guaranteeing retirement obligations
the best of times and the worst of times…
with apologies to charles dickens, who famously opened his classic “a tale of two cities” with the above, here are two real experiences i had regarding transition, one of which was the best example of retiring partner transition i’ve ever seen and one the worst.
