At Rarick & Beskin, we pride ourselves in helping the small business entrepreneur profit and thrive in a competitive market. We are available to help you in many ways.Helping You Protect Your Business and Your Family Avoid Partnership Disputes
The best way to minimize disputes with your partner is to write your agreement down in clear terms that addresses all the potential issues of dispute, such as compensation, benefits, division of profits. etc. All good partnership agreements anticipate and deal with the difficult issues of disability or death of a partner. And, a good partnership agreement has an Exit Strategy – a clear path for partners to separate and go their separate ways if business does not work out as planned.Avoid Court Intervention and Business Interruption.
Successful businesses stay out of court. However, to stay out of court, you need good legal planning to minimize disputes. This starts with a comprehensive partnership agreement prepared by an experienced Miami business attorney. If disputes arise, you need to have a quick, decisive means to resolve the dispute such as an agreement to immediately submit disputes to mediation; if mediation does not resolve the problem, then arbitration.Protect the “Money Making Machine”
Your small business may be the primary “Money Making Machine” to support you and your family’s lifestyle. This machine needs to be maintained and protected. Clearly, you need to have the strongest and most tax efficient entity for your business. There are many options to consider such as:
- Florida Limited Liability Limited Partnership (LLLP): Click here to read more.
- Florida Limited Liability Company (LLC): This LLC can select to be treated as a partnership, S corp. or C corp.
- Florida Corporation: Note: This entity does not provide the same quality of asset protection as a LLC.
- Professional Association.
Note: It is not sufficient to simply form an entity such as an LLC. The core of a good LLC is an up-to-date asset protection operating agreement that limits a creditor’s remedies to a charging order and limits rights to participated in the company.Avoid Disputes With Employees
Look around. Billboards are everywhere by plaintiff attorneys soliciting employees for wage disputes or wrongful termination. These lawsuit have become one of the most common threats to small business owners. At Rarick & Beskin we take pride in helping the small business owner avoid such disputes by proper planning and clear employment agreements.Sale or Purchase of Business
The sale of even a small business can involve complex tax issues and transition issues. When you sell your business you want to completely close the door: you want a final resolution of all issues so that you can leave the business without worry of issues arising in the future. If you are a buyer, you certainly do not want to purchase unknown company liabilities that you may have to defend after the closing. At Rarick & Beskin we will help you sell or buy a small business in the most cost and tax efficient way.Transition of Business to Other Family Members
This transition can be easy – or messy. We have found that profitable business owners are like a good football quarterback who has the vision to see the entire field, and is constantly looking down the field for open receivers. These business owners do not focus on today, because today was previously planned; rather they focus on where they want to be next month, next year, and in the next four years. Planning ahead for family businesses helps to make the transition easy – and with a minimum of business interruption. At Rarick & Beskin, we have helped owners of small businesses pass the torch for their business to other family members in a way that preserves the value of the company – and preserves family harmony.Experience Matters
Miami estate planning firm, Rarick & Beskin, P.A., has assisted families and business persons for over 20 years. Our firm has worked with over 400 similar law firms located in states outside of Florida to represent their clients in legal matters concerning probate, Florida estate planning, and asset protection. To schedule a meeting with a Miami estate planning attorney call (305) 556-5209 or (954) 861-1426, or e-mail firstname.lastname@example.org. We look forward to meeting you!