Sheresky Aronson Mayefsky & Sloan

U mad bro?

“To the last I grapple with thee; from hell’s heart I stab at thee; for hate’s sake I spit my last breath at thee.” — Every pissed off former partner ever.

Everything that ends, ends badly. That’s true of law partnerships as much as anything. Partners split up, somebody takes the high profile clients, somebody else ends up holding a fish and a box of Renée Zellweger DVDs.

Today, we’ve got a partner who had a falling out with his former colleagues and took his bitterness to his grave…

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'And then I told him I'd file a motion to compel his a**....'

It’s important to think about — and not just think about, but save for — your retirement. This is especially true now that Social Security is looking less than alluring. (When I see that money taken out of my paycheck, I just kiss it goodbye, forever.)

When it comes to providing for associates and other employees, most large law firms take a fairly straightforward approach: they offer 401(k) accounts, but no matching employer contributions. One of the few Biglaw firms that provided a match, K&L Gates, stopped that policy back in 2007.

With respect to retirement provisions for partners, there’s more variation from firm to firm. Some shops provide for retired partners in very generous fashion. For example, retired partners at Wachtell Lipton can receive annual seven-figure payouts for many years after leaving the firm (although sources at my former firm tell me some of this money represents a return of capital to the retired partners, and as such will vary from partner to partner).

A million-dollar retirement benefit is no doubt very pleasing. But at other firms, aging partners are less content with their arrangements….

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