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Tina
Tina, Lawyer
Category: Legal
Satisfied Customers: 8775
Experience:  JD, BBA Over 25 years legal and business experience.
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I, married 31 years, He has worked fam. owed corp. ("C")

Customer Question

Joe & I, married 31 years, He has worked for a fam. owed corp. ("C") Corp.Appraised at 20 Mil We had 3% stock, bought out 5 years ago by the 3 sen. stockholders each owning 25%, We had 3%, my husband had run a portion of the co. for 20 yrs.produced 10 Mil. a year GP, his top salary was 85,000 per yr.
CPA said for tax reasons he would start a new Co. Än'S'Corp",with two others partners. We took the business name and leased every else from the senior company. I had to signed a buy/sell agreement to protect the new company.The new Company: my husband 64%,part.two 23% part.three 13%. Our personal assets we built together are at risk, I sign a PFS yearly that is a guarantee to the bank for the companies Heloc. I had to signed a Buy/Sell Agreement 5 yrs ago to protect the new co. my husband promised me NO BIG DEPT He also told the old guys he could not afford to buy their Bus.they waited too long.Now we are buying? I want a say, what recourse do I have to protect our assets?
Submitted: 1 year ago.
Category: Legal
Expert:  Irwin Law replied 1 year ago.

THis sounds like a very complex business agreement with banking and personal guarantees involved. Can you be more specific about what risk(s) you wish to protect your assets against?

Customer: replied 1 year ago.
never mind please reverse the charges I need to go in a different direction