My husband has a small company and it still at start up. Ive been giving him some money for the business. I want to do things the right way . I want to know what are some things i should know or have signs for any money or any investment i make. I dont want to mix our marriage and the business. How should i go about this?
2 Answers from Attorneys
You would set up the agreement the same manner as if you were dealing with a third party. I believe you are making a very smart move; very uncommon to have such foresight. The agreement does not need to be too complicated; it can be as simple as the parameters of your understanding. Write down both your concerns and have an attorney review to reduce to legal format.
To some degree it depends on the type of company (LLC vs. Corporation) that was set up and the purpose of the fund either a loan or equity. If it's a loan then you would need to execute a loan agreement and should consider securitizing with assets of the company or personal assets of your husband. If it's equity in exchange of money, then the company would need to issue you stock / membership interest in the company.
My firm mostly handles startups and these are routine matters for us. I will be happy to assist you further. We can get this done in no time!
Please contact my office at your earliest convenience.
Roman R. Fichman, Esq.
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