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lwpat, Attorney
Category: Business Law
Satisfied Customers: 25387
Experience:  Attorney with over 35 years of business experience.
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Hi, we are 2 midwives (CPMs) licensed by the State of TN and

Customer Question

Hi, we are 2 midwives (CPM's) licensed by the State of TN and are starting a homebirth business together.
We cannot carry malpractice ins. Is it possible to run this venture as a LLC? Any other way to iimit pers. liability? Thanks so much for your advice.
Submitted: 8 years ago via LawDepot.
Category: Business Law
Expert:  lwpat replied 8 years ago.
An LLC is probably your best option. You can set it up yourself by going to the Tenn Secretary of State website. It is a fairly simple process and then you get an EIN number. I want to stress that you absolutely need an operating agreement. Getting into business with someone is easy but getting out can be very difficult. Here are some samples

Since you cannot carry malpractice insurance you may want to draw up an agreement for your clients to sign. For this I suggest a local malpractice attorney or possibly you can copy one from someone.

Please advise if my answer is acceptable