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AttyHeather
AttyHeather, Lawyer
Category: Legal
Satisfied Customers: 573
Experience:  15 years law practice experience
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Type I am looking at investing with another guy in a

Customer Question

Type I am looking at investing with another guy in a business, which he does now with another company. I want to protect myself before I do that with legal papers. I will set up a back account in our names and a business name through you guys and all the money will go into that. All expenses will be taken out of that and we split the earnings. I am not sure how to word it, and need help. Can you help me and what would be the charge?
Submitted: 5 months ago.
Category: Legal
Expert:  AttyHeather replied 5 months ago.

Hi! I'm Heather. I've been a practicing attorney for the last 15 years, and I'd be happy to assist you for informational and educational purposes.

Expert:  AttyHeather replied 5 months ago.

Justanswer.com does not set up bank accounts. We help people through answering their questions.

You might try setting up the business as an LLC and creating an operating agreement. The operating agreement would contain provisions that would protect you. You could also appoint a separate person as a manager for finances, and that person would handle the bank account.

Customer: replied 5 months ago.
Can you type up a document for me on this situation ? I paid, through my card, for a consultation. I do not feel I should pay more just to talk to you on the phone. I can type and I can read. Do you think an LLC would be suffcient? or should we have a partnership. I am in Texas and he is in Pacific time.
Customer: replied 5 months ago.
I am waiting for an answer from you.
Customer: replied 5 months ago.
I know you do not set up bank accounts. I can do that and am not concerned about that. I am about the legal paper work .
Customer: replied 5 months ago.
If e select a third person to manage the bank account he will want some pay and what is to keep him from dipping into it? That is NOT our desire. I want protection on my investment
Expert:  AttyHeather replied 5 months ago.

Another thing you could do is set up the account to require both of you to sign for checks. That way there is a checks and balances system in place.

Customer: replied 5 months ago.
I am signing off untill tomorrow. It is 8:00PM and I am tired Let me know if you will draft a document for me and the cost.
Expert:  AttyHeather replied 5 months ago.

What day did the judge sign the papers, and what day was the judgment entered? They might be the same date, or they might be different?

Expert:  AttyHeather replied 5 months ago.

I apologize for that last message - it posted to the wrong question. Please disregard.