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A part of the problem with not taking trainees is that the supply of young solicitors in your locality dries up. I have recently heard of a firm hawking itself around the place barely able even to give itself away. Why? Because it had no young assistant solicitors ready to take over and the run-off issue, quite apart from making very little profit.

When I first became a partner I refused to pay anything other than for a share in the building and its contents. Why? Because the senior partner was aged 70 and his brother-in-law 60...QED.

You fail to make long term arrangements for your retirement and succession at your peril.