Making Time Your Partner

You've decided to start a new business, or add to your existing business, so where to start? That first step is deciding the form of your business, and it seems like an endless series of alternatives: (i) general or limited partnership; (ii) limited liability company; (iii) corporation (C or S Corp); or (iv) something more specialized like a family limited partnership or trust. 

Are you the sole owner? This is the simplest form, and can be a sole proprietorship or limited liability company, which affords more protection of your personal assets. Will you have partners or investors? Are they family, third parties, or a combination of both? This requires balancing the different objectives of the parties and coming away with a structure that addresses both the needs of your participants and the nature of your business. 

An equally difficult issue is your current tax situation, for both you and the investors. The choice of entity needs to answer all of these questions, and I will work with your accountant to help craft the best entity for your situation.

Business transactions are often more complex than they first appear. Whether a contract in your day to day business, an acquisition, asset sale,  employment, financing, or other transaction,  I can assist in negotiating, drafting and finalizing your business transaction. 

Just like your choice of business entity, you should focus on your business objectives to help your lawyer understand what is most critical to your specific transaction. Every legal document involves a series of decisions, and each may impact other elements of your transaction and the documents you need. Communicating your objective upfront helps guide you and your lawyer through the negotiations and a successful transaction for both parties.

I have represented individuals, families, and companies in oil and gas transactions for the purchase and sale of properties, exploration, development, production, and transportation of their natural resources.  This includes oil and gas, water, and electrical generation. Landowners in particular are faced with often complex and conflicting issues in developing their natural resources, including the expanding areas of water production and electrical energy generation.

We are living in changing times, particularly with regard to how much and in what ways you can leave your estate to your spouse, heirs, and others.  But estate planning is NOT only about taxes. It is often more about your family needs.  We often make the mistake that a "modest estate doesn't need a will" and need to consider: 

• Are you a parent with young children? Who will be their guardian and who will hold their assets are often more difficult discussion than complex tax planning. Grandparents? Siblings? Friends? Are your choices consistent with the religious and other values you wish to impart to your children?
• Is your family a "blended family" with his, hers, and our children?
• Do you have elderly parents or a special needs child you will need to care for?
• Are you a grandparent and do you have the same concerns for a spouse or grandchild? 
• Insurance needs for support of survivors.
• Do you have a family business with continuity concerns? 
• Don't forget about lifetime planning, such as medical and general powers of attorney, as well as physician's directives, more commonly called "living wills."