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McCarthy Tétrault LLP has a sim- ilar approach to partner retirement. Paul Boniferro, a partner and the firm's national leader of practices and people, says the standard retirement age is 65, but some people continue on as counsel beyond retirement if they have a skill set, particular expertise, or continue to be valuable to the firm because of their reputation or their ability to attract clients. Boniferro also stresses the value of open and honest dialogue with part- ners, as early as possible prior to them reaching retirement age. These discus- sions can be tough, he says, particularly in situations where the partner wants to continue working after retirement, but there is not a good business case for "As you approach your retirement years, [not giving up control] may become a stronger personal feeling as you want to ensure that you remain relevant and important." SCOTT JOLLIFFE, GOWLING LAFLEUR HENDERSON LLP doing so. In these cases, he may have to tell them: "The practice isn't as strong as it used to be and it's not very profitable. We want to make room for younger partners and associates to come up the ranks and we don't see the value for the firm or for you to continue." Levitt maintains that this attitude to retirement is out of date. "The time- honoured tradition in larger firms is to say to young bright lawyers, 'We're going to work your brains out, but don't worry about it because eventually you'll inherit these clients.' That's the model: if you don't get rid of your old farts, how are you going to reward the young people coming up?" ntitled-5 1 But for two key reasons this no longer applies, he says. One is that clients are not loyal to a single firm anymore so they may well move in any event, irrespective of whether the firm has a succession plan in place. The other is that younger lawyers are more mobile and more interested in work-life balance than working at an unhealthy pace with the hope of advancing within the firm. But Boniferro says law firms can't afford the risk that partners will reach retirement age without having done any succession planning, "or worse yet, decide, 'There's no room or space for me here. If I don't feel respected and valued, I'll go elsewhere.'" Freelance journalist and business writer Kevin Marron can be reached at kevin@ kevinmarron.com. Months of preparation. One game-changing moment. Whether we're arguing at the Supreme Court or prosecuting a patent or trademark application, we've found that ability, insight, experience and good old-fashioned smarts are only the beginning. Often, it's preparation that carries the day. When you're looking for an ip team that knows what it takes to make the most of game-changing moments, look no further than the team at Dimock Stratton. Dimock Stratton llp experience. results. 20 Queen W. 32nd fl, Toronto | 416.971.7202 | dimock.com www.CANADIAN Lawyermag.com A PRIL 2011 25 3/14/11 11:20:23 AM