Are you a business owner or partner in a professional practice?  Do you have an up-to-date operating agreement that specifically spells out the duties and obligations of the company and all of its partners?  What about contingencies in case a partner dies or becomes disabled?  If a partner gets sued or divorced, can his or her shares in the company be attached by their creditors or ex-spouse?

All of these issues (and more) should be addressed in a number of formal agreements to avoid the dissolution or collapse of the business when faced with these unexpected events.  First of all, most businesses with two or more partners or shareholders should have a written operating agreement which spells out the duties and responsibilities of each member of the company.  In addition, a separate buy-sell agreement should be created to address contingencies such as death, disability, retirement, voluntary withdrawal of a partner and involuntary termination.

For a free consultation and to have us review your current documents or discuss the need for new ones, please call or email us to arrange an appointment.