I'm a senior associate in tax working for a top 25 firm. There is room for advancement over the next few years. I currently have an opportunity to jump to a small practice with the intention of being the successor to the lone owner with the transition occuring over the next 4-5 years. There is another CPA currently working at the firm who intends to retire in the next 2 years. The owner lives a comfortable life, better than most if not all of the partners in my office.
Has anyone been in a similar situation? How did the transition go? Any items of advice/questions to ask that you wish you had prior to accepting the position?