If you’re a practicing attorney in the State of New Mexico, you must have a NM Lawyer Succession Plan. The compliance deadline is October 1st, 2022.
WHAT DOES THE RULE SAY?
The New Mexico Supreme Court has mandated that all attorneys practicing law in the State of New Mexico have a written succession plan, either alone or as part of a firm plan specifying the steps to be taken in the event of an attorney’s extended incapacity from practicing law or in the event of the attorney’s death.
WHAT DOES THIS MEAN FOR YOUR PRACTICE?
You must have a plan in place that includes the provisions outlined by the NM Supreme Court. Specifically — notice, plan, communication with clients, and Certificate of Compliance registered with the State. Your plan must not only be created but updated as needed and as circumstances change.
BUSINESS LAW SOUTHWEST IS HERE TO HELP.
Business Law Southwest has a turn-key solution ready to ensure you are compliant with this requirement. We will draft a Business Succession Plan with all the elements listed in Rule 16-119. Moreover, we offer package options that can include ongoing maintenance to your plan, as well as plan execution.
Business Law Southwest. Business law that makes business sense.