These summaries were prepared by McGuireWoods LLP lawyer Thomas E. Spahn. They are based on the letter opinions issued by the Virginia State Bar. Any editorial comments reflect Mr. Spahn's current personal views, and not the opinions of the Virginia State Bar, McGuireWoods or its clients. 
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12-Withdrawing Lawyers (Including Non-Compete Issues)

A limited liability law partnership may vary the time period over which the firm will repay a withdrawing partner's capital depending on whether the withdrawing partner retires from the practice of law (withdrawing lawyers who stopped practicing received their capital over sixty months, while others received their capital over 120 months). Such an agreement affects "only the termination of the relationship itself" and is "not a restriction on the attorney's right to continue to practice law at the termination of the relationship." This determination moots the question of whether payment of the capital account "constitutes a retirement benefit" which could be directly tied to a non-compete provision.

Copyright 2000, Thomas E. Spahn