How to Enter Partnership and Protect Assets?

[Daniella_de_laCruz]

Montana

The business is up and running and the owner has given me the go-ahead to get a contract written up that includes me in on 25% of the entire business.
I would like a basic contract to:

Keep personal assets, monies and property protected
Have manager responsibilities and decision making rights
Add or change clauses in the future.

Would an LLC be enough protection? Is a S Corp. a better (although more complicated) way to go? A shareholder does not seem to be a good option for me, although maybe one of you have some good info on shareholding?

Any advise and leads are much appreciated!

 

[Zigner]

Montana

The business is up and running and the owner has given me the go-ahead to get a contract written up that includes me in on 25% of the entire business.
I would like a basic contract to:

Keep personal assets, monies and property protected
Have manager responsibilities and decision making rights
Add or change clauses in the future.

Would an LLC be enough protection? Is a S Corp. a better (although more complicated) way to go? A shareholder does not seem to be a good option for me, although maybe one of you have some good info on shareholding?

Any advise and leads are much appreciated!

Drafting a contract (or portions thereof) is beyond the scope of this (or any) internet forum. You should consult with a local attorney.


EDIT:
Why are you asking this question, when just a few days ago you came to this forum KNOWING you needed an attorney?

https://forum.freeadvice.com/threads/seeking-competent-attorney-what-to-look-for.657791/

EDIT AGAIN:
Just for the sake of being thorough, here is the link to your OTHER thread about the same matter (that's 3). Please don't make another thread about the same matter.

https://forum.freeadvice.com/threads/enter-a-partnership-or-aquire-lost-wages-advise-needed.657741/

 

[quincy]

It is best on this forum to keep all related questions to a single thread so that the forum members do not have to search for important background information and/or link to previous threads.

That said, I agree with Zigner. You really should sit down with an attorney in your area to discuss your business plans and how best to accomplish your goals. This forum is limited in what it can provide.

 

[Daniella_de_laCruz]

Drafting a contract (or portions thereof) is beyond the scope of this (or any) internet forum. You should consult with a local attorney.


EDIT:
Why are you asking this question, when just a few days ago you came to this forum KNOWING you needed an attorney?

https://forum.freeadvice.com/threads/seeking-competent-attorney-what-to-look-for.657791/

EDIT AGAIN:
Just for the sake of being thorough, here is the link to your OTHER thread about the same matter (that's 3). Please don't make another thread about the same matter.

https://forum.freeadvice.com/threads/enter-a-partnership-or-aquire-lost-wages-advise-needed.657741/

Just gathering information before I enter into the attorney ring... I start mining information before making big decisions and you all seem well informed on these topics.
Also, I am new to forums in general and am learning the do's and do not's of forum etiquette.
Thanks for bearing with me. An attorney is in my near future.

 

[quincy]

Just gathering information before I enter into the attorney ring... I start mining information before making big decisions and you all seem well informed on these topics.
Also, I am new to forums in general and am learning the do's and do not's of forum etiquette.
Thanks for bearing with me. An attorney is in my near future.

Educating yourself first by gathering information before sitting down with an attorney is smart. It bodes well for your future success with your business.