Comments on: How to legally sell a small business to family member? http://wildcashflow.com/2009/11/how-to-legally-sell-a-small-business-to-family-member/ Money Making Secrets Online Thu, 19 Nov 2009 07:32:59 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: Michael L http://wildcashflow.com/2009/11/how-to-legally-sell-a-small-business-to-family-member/comment-page-1/#comment-15661 Michael L Mon, 16 Nov 2009 02:13:59 +0000 http://wildcashflow.com/2009/11/how-to-legally-sell-a-small-business-to-family-member/#comment-15661 I have seen this "simple" transaction go awry so often it is frightening. Hire a competent attorney to do the paperwork of servering you from all liabilities of the business and placing that with your father. The few hundred dollars you spend (expensed to the business) will pay you back 1000 fold. I usually go the route of not using a lawyer any time I can get away with it. This is one time I would use a lawyer. You have leases, suppliers, creditors, taxing agencies to deal with. Get it done right the first time.<br><b>References : </b><br> I have seen this "simple" transaction go awry so often it is frightening.

Hire a competent attorney to do the paperwork of servering you from all liabilities of the business and placing that with your father.

The few hundred dollars you spend (expensed to the business) will pay you back 1000 fold. I usually go the route of not using a lawyer any time I can get away with it. This is one time I would use a lawyer.

You have leases, suppliers, creditors, taxing agencies to deal with. Get it done right the first time.
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]]> By: catty http://wildcashflow.com/2009/11/how-to-legally-sell-a-small-business-to-family-member/comment-page-1/#comment-15660 catty Mon, 16 Nov 2009 02:01:59 +0000 http://wildcashflow.com/2009/11/how-to-legally-sell-a-small-business-to-family-member/#comment-15660 You can have your bank draw up the paperwork for you at little or no cost. ..<br><b>References : </b><br> You can have your bank draw up the paperwork for you at little or no cost.
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