Sydney’s dad has been the main inspiration to her interest in this future, both professionally and personally. I felt that many law firms focused too much on the business of law, including the emphasis on billable hours and the trappings of partnership years down the road. The end goal is a law firm where everyone, irrespective of generation, works together efficiently and harmoniously. If a parent wants to make a gift, transfer properties or assets, or leave inheritance to an adult child (including as part of early estate planning measures), but protect them from division in the event of a future divorce, a prenuptial agreement is essential.

Linklaters has also introduced training on inter-generational working, including client-facing resources. Jordan Williams, wealth manager at Artorius, and Abby Buckland, Senior Associate in the family and divorce team at Kingsley Napley, believe that a collaborative approach at an early stage is necessary.This has proven problematic in the age of COVID-19, as these households can be more difficult to socially distance in, not to mention the risk of people bringing the virus into the home. The pace of planning for succession and providing for the next generation has undoubtedly accelerated for many families in recent months with the outbreak of the global COVID-19 pandemic. You can trust in our experience and reputation to help navigate you through your unique legal matters.

In addition to these findings, we learned that respondents were more likely than normal to allow their family to move in with them for the duration of the COVID-19 pandemic. Shipman is seeking an associate to join our Real Estate practice group in our Stamford or Hartford offices. We compared respondents from the four most recent generations: Generation Z (born 1997-2012), Millennials (born 1981-1996), Generation X (born 1965-1980), and Baby Boomers (born 1946-1964).

Their longevity and success has been achieved by providing a full range of accountancy and taxation services tailored to meet the particular requirements of medical professionals. These attitudes might be explained by self-interest: As the UK population ages, many individuals will struggle to live independently without some form of support. They build close relationships with their clients and provide proactive advice to help them control and manage their medical business or practice, to plan ahead and mitigate their taxation liabilities while, at the same time, ensuring compliance with accounting and taxation legislation relevant to them. Arriving at that point requires preparation, planning and effective implementation of management initiatives that acknowledge the needs of that generation and those following on behind. This finding could reflect their own impending decisions about their ageing parents and the choice to welcome them into their homes.

For others more ready to hand over the challenge of law firm ownership the issue has been in finding suitable and available candidates.I realized many of the tensions that I felt practicing law could be traced, in large part, to generational misunderstandings. In this blog, they share some of the practical ways in which family wealth can be preserved in the event of divorce or death. Divorce is not what any parent wishes for their children, but the number of parents raising the issue and seeking advice as to what measures can be taken to limit this risk is growing rapidly. It’s likely that in many law firms those with an eye for a place at the partners’ table will now be coming from Generation Y or Millennials, aged in their early to late 30s.