Legal Question in Business Law in New York

This all really depends. At this point, I think any smart business lawyer is going to have more questions than answers. We often deal with partner splits and disputes and they are have different facts involved.

I suggest that you consult with a lawyer in private and discuss your objectives in more detail. You can start by calling around to several for a free phone consultation, get some insights then pick the best fit to work with.

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient. Our firm is now referred by the American Bar Association (see under the New York section):

http://www.americanbar.org/groups/delivery_legal_services/resources/programs_to_help_those_with_moderate_income.html

Kind regards,

Frank

www.LanternLegal.com

866-871-8655

[email protected]

DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.

The method of how to properly dissolve the collaboration between you and your partners and assessing the tax consequences depends on whether the entity was organized as a corporation, LLC or a partnership. If you and your partners did not formally create an entity, then that will need to be addressed as well.

Bottom line, more info is needed and I strongly suggest that you consult a startup attorney to help you handle this. Since it sounds that everyone is in agreement the process should be fairly quick and inexpensive.

Please contact me directly for help with this.

Roman R. Fichman, Esq.

www.TheLegalists.com │ @TheLegalist

email: Info (@) TheLegalists (dot) com

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Disclaimer: This post has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice or be relied upon. No intention exists to create an attorney-client relationship or any other special relationship or privilege through this post. The post may contain errors, inaccuracies and/or omissions. You should always consult an attorney admitted to practice in your jurisdiction for specific advice. This post may be deemed as Attorney Advertising.