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| Where to Start |
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The very first step in a practice transition is determining the Fair Market Value of the practice being transitioned. This is done by performing a Formal Practice Appraisal and setting the tax allocation of the purchase price. To have your practice appraised, you must request an Engagement Letter and then return it to us with the requested information. The Practice Appraisal is a necessary step for all transition types (even Associateships) because it is used to determine not only the purchase price and tax allocation, but also the amount of compensation for an Associate. Once the practice has been appraised, we will move forward with the transition negotiations and the drafting of documents in order to arrive at final, execution documents to complete your transition. |