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| September 2004 | The
Monthly Newspaper of the NYSSCPA |
Vol.
7, No.12 |
NYSSCPA Developing Continuity of Practice Program
By
Robert Fligel
A
subcommittee of the NYSSCPA’s Small Firm Practice Management Committee,
in conjunction with several Society chapters, is developing a practice
continuity program to assist practitioners and their families with the
continuation of their practices in the event of death, disability or
other calamity.
In the event of an untimely death or disability, a practice that has a substantial value becomes worth very little, very quickly. The family, which should receive the benefit of the value, receives almost nothing.
The primary goal of the program is to have Society members commit to provide continuity of services for the clients of a deceased member until such time as the practice can be sold, merged or absorbed in an orderly manner at relatively full value. Similarly, arrangements can be made for a disabled practitioner.
The program will be organized for the benefit of the families of deceased or disabled members. The Society asks that you consider this type of service if it fits your needs. The important thing is to have arrangements in case of an emergency or disaster. Your Society stands ready to help you or give guidance to you and your family when needed.
The subcommittee
will keep Society members advised as it works toward a viable and effective
program. Questions and suggestions about this valuable service are welcome
and can be directed to the author at 212-490-9700 or at
rfligel@rf-resources.com.
Robert Fligel is the president of RF Resources LLC in Manhattan and is a member of the NYSSCPA’s Small Firm Practice Management Committee.
