Changes in business ownership or relationships will require a selection of documents that help outline the details.
Most of us will not know if or when we may need long-term care. Protecting family financial legacies while receiving Medicaid is complex.
Many landlords and tenants could benefit from better farmland leases. Sometimes, the seemingly simple act of defining each party may be more complex than one assumes.
More complicated agreements such as “hybrid leases,” which contain elements of cash rent and crop-share, rely on formulating payments based on yield and crop prices. Other basic items such as lease duration or payment schedule could create pitfalls if both parties have not clearly established them. A good farmland lease will address these concerns, among others.
Adding owners to a business venture will almost always require considerations beyond just legal ownership. A variety of “non-legal” issues may include time allocation, value of each individual’s work and other relationships.
It is important to evaluate these considerations and effectively work the “non-legal” aspects into the business documents. This includes updating an entity’s operational requirements, adopting a new resolution, updating bills of sale and more.
Historically, meaningless words were added to legal documents to puff them up. It is now a cliché that attorneys prepare very long documents, even with all of the extra fluff removed. Legal documents are lengthy because short and simple contracts can leave clients unprotected and work against their interests.