The September 28, 2016 issue of the Legal Intelligencer, the daily newspaper of the Philadelphia legal community, features comments by Havertown Attorney Dan Siegel. The article, “Rule Change Allows New Retirement Route for Solos,” discusses the amendments to Pennsylvania Rule of Professional Conduct 1.17, which regulates the manner in which attorneys may sell all or a portion of their law practices.
Previously, Rule 1.17 drastically limited the ways solo attorneys could sell their practices. Siegel, who is the author of Changing Law Firms: Ethical Guidance for Pennsylvania Law Firms and Attorneys, Second Edition, regularly represents attorneys who are impacted by this Rule. The article notes that Siegel “has been advocating for a change in the rules ‘for some time.'” The article also quotes Siegel, who explained that “The old rule created significant obstacles that basically only existed for solo attorneys who were trying to wind down practice or change practice areas.”
The new Rule becomes effective on October 24, 2017.