Business Agreements – Planning Attorney
Taxes and Operating Agreements
What is the operating procedures for your company? and What percentage of ownership is required for day to day or major decisions?
Do you have a succession plan?
What will happen upon the death or disability of the key employee? What about the Cincinnati death tax?
If a partner sells his membership interest, what role does a new partner play in operations?
“A handshake might seal the deal and create a partnership, but it’s wise to have a written operating agreement to define what that handshake really means,” Bill explains. “If your business has written guidelines about how its owners are to make decisions and about what is to happen upon the death, disability, and retirement of an owner, then you can prevent disputes that can lead to long and costly litigation battles.”