Do I Need A Lawyer When Selling My Business?

Hiring a business lawyer to help sell a business will make the process less stressful and likely help you get the most return possible on your sale. The attorney represents the seller's interests and ensures all documents are in order. Lawyers also handle the complexities and extremities of business succession.

3 Reasons You Need Business Lawyer to Sell Your Business

Selling a business requires thorough knowledge of business law, local law, and steps involved in the transaction. The counsel of a knowledgeable lawyer will help the seller ensure a smooth process and avoid common mistakes. Here are three reasons for engaging an attorney.

1. To Get Favorable Terms

A business attorney works to protect the client's interests and ensure you walk away with the transaction without additional liabilities. The lawyer can perform various functions, including handling negotiations and drafting/reviewing the agreement.

Business attorneys also integrate inputs from the seller's team and procure details about outstanding liens. They'll ensure the transaction is carried out according to existing laws, focusing on getting their client the most favorable deal.

Hiring an attorney is the only route when negotiating the value and worth of a business in the market. Business lawyers have the experience and latest information concerning valuation and are better suited to fetch desirable revenue from the sale.

2. To Handle the Paperwork

Selling a business involves a lot of paperwork. The seller may not be able to complete all pertinent documents as required. Involving a lawyer relieves sellers from the burden of gathering and filing paperwork and corresponding with involved parties.

Popular business sale documents include purchase agreements, non-disclosure confidentiality agreements, financial statements and forms, and inventory lists. Papers like the transaction terms and buyer's due diligence usually surface after initiating the selling process.

A business attorney will streamline all documents and liaise with the buyer's lending institution and other entities before, during, and after the transaction. The objective is to prevent further liability and ensure the sale has no loose ends or missing documents.

3. For Legal Counsel and Representation

Hiring a lawyer when selling a business comes with professional legal counsel. The attorney's job is to ensure the seller understands the process and to facilitate the sale on the client's behalf. Lawyers can settle internal discords before the sale and handle negotiations with the buyer.

Some situations involve going to court or require meetings with one or more groups involved in the sale. The lawyer offers legal representation in such cases and defends the seller's position, and legal counsel ensures the client entirely agrees to the terms before approving the transaction.

Involving a legal representative creates balance considering buyers will likely have a team of lawyers representing their interests. The attorneys can also help you handle deliberations with appraisers, insurance brokers, financial planners, and accountants.

Experienced Business Lawyers in New York

Experienced business lawyers make a complicated process like selling a business look easy because they understand the steps and complexities involved. Sellers need to contact a business attorney early for consultation and planning, but can engage one at any time in the process.

At Khader Law, we focus on providing unique services and legal counsel to build trustworthy relationships and protect the interests of our clients. Our NY law offices are open to anyone and ready to provide quality service.

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What Do Family Lawyers Do?

By Mike Khader • 29 Mar, 2022

A family lawyer in New York can help with various cases pertaining to family matters. They work in Family Court and the Supreme Court depending on the needs of the case. There are also things that a family lawyer can do that may prevent a case from going to court. In order to understand what family attorneys do, you need to know who their clients are. The types of cases they work on will also help clarify what their work entails. Whom Do Family Lawyers Represent? Lawyers who work in family law don’t just work with families who are going through a divorce. They can help a variety of people with different cases that are heard in Family Court. They can represent nearly anyone with a specific family matter, from children to young people to adults. Children and Adolescents A lawyer who focuses on family law can help children and families when they are going through the adoption process. They may also work with child protective cases in situations where there is suspected child abuse or neglect by Child Protective Services. Family attorneys also help young people involved in juvenile cases. Adults There are so many ways that a family lawyer can be helpful for adults. Types of cases that a family lawyer may work on include: Spousal support or child support Paternity disputes Parental rights Protection orders Child custody and visitation PINS (Persons in Need of Supervision) These are just some of the cases where a family lawyer may assist at Family Court. There are also cases that take place at the Supreme Court where it may be beneficial for someone to use a family lawyer. For example, divorce cases are heard at the Supreme Court, not Family Court. Are Family Attorneys and Divorce Attorneys the Same? Oftentimes the terms “family attorney” and “divorce attorney” are used interchangeably by people. This is because both family law attorneys and divorce attorneys are able to assist their clients with their divorce cases. A divorce lawyer is someone who specializes in divorce cases and only takes on clients involved in divorce proceedings. On the other hand, a family law lawyer will take on a variety of cases not limited to divorce. Do All Family Law Cases Go to Court? The great thing about lawyers who work in family law is that they are able to help their clients in many different ways. There are things that they can do to help their clients reach a solution before the case goes to court. For example, the lawyer may try mediation or dispute resolution before the case is brought before a judge. Some work that the lawyer will do includes researching cases for supporting background information for their current case. When they use other law cases, it will give their case and the solution they are seeking more credibility. They may also complete and file necessary court documents, offer advice, and advocate for their clients. Choose an Experienced Family Lawyer Make sure that you choose an experienced lawyer if you are looking for representation for a family law case. Khader Law can help you with cases that are heard at both the Supreme Court and the New York Family Court. They take pride in serving their clients and have proven experience with getting the best possible outcome for their family law clients.

5 Reasons to Work With a Family Lawyer

By Mike Khader • 23 Mar, 2022

Working with a family lawyer may be the right choice for you depending on the nature of your legal issue. Family law covers all kinds of relationships, most commonly when they begin the process of divorce. Here are a few reasons to consider working with a lawyer that specializes in family law. 1. You want to work with a lawyer that understands where you're coming from. People generally contact a lawyer when they need help. Family issues are especially stressful. Strong emotions can overwhelm good judgment, which is why getting the help of a family lawyer is a good first step to protect your interests. Not only do they have the legal training and experience you need, but they also understand the emotional state you may be in. Knowing that your lawyer understands your feelings can also be comforting. Family lawyers specialize in these kinds of sensitive and personal issues. It can be difficult to remain amicable with a partner you are separating from. If abuse has occurred, it may be unsafe or impossible to communicate with an ex-partner. A lawyer that is an expert in these issues can help you get the best outcome in your case and plan for the future. 2. You need help making a prenuptial or postnuptial agreement. Soon-to-be-married couples should protect their separate property and investments. Maybe you have a property that is owned by a trust or partnership. You may also have gifted assets or an inheritance that is separate from the earnings you share with your partner. It is in your best interest to make sure these kinds of assets are separate from joint earnings if you divorce your partner. You need to communicate with your partner and make sure you are both satisfied with the agreement. A lawyer can help you sort out the most important elements within a prenuptial or postnuptial agreement. 3. You need legal counsel for your separation. Going through a separation can be very difficult. Not only will you be going through a great deal of emotional upheaval, but you will also have to make several important decisions. Your living situation may be changing and you may have questions about how property you share with your former partner will be divided. If you have children, you and your ex-partner will need to communicate several important decisions. If you work with a lawyer, they will act as your advocate to get the best outcome for you and your child. They will also help you understand your custody agreement, visitation rights, and any financial support you may owe. A family lawyer will help you understand your state’s particular divorce laws. They can also help handle issues that arise from prenuptial agreements and get you the most desirable outcome for your separation. You also want a lawyer who will represent you at every level of legal proceedings. No matter if you're going through mediation or a trial with a judge, your lawyer should be your advocate. 4. You have a complicated custody or adoption case. Custody and visitation cases can be complicated and drawn out. Other family members, like grandparents, may also petition to have custody rights. With more people involved, you need a lawyer that will clearly express your interests to the court. Grandparents are more commonly given custody if a parent has been incarcerated or if the child has lived with them previously. Adopting a child can be an amazing source of joy. It can also be a very complex legal process. It can be more complicated if several family members have custody rights. International adoptions have additional rules and regulations that adoptive parents need to follow. A lawyer that is skilled in these issues can help you navigate the process so you can focus on building your family. 5. You or someone you love is being mistreated. Family law also includes protecting people from domestic abuse. Abuse is a broad term and can be specified by the type of abuse, for example, physical or emotional. A lawyer can help you file a restraining order for protection. Laws that prevent abuse protect anyone in a relationship. You do not need to be married to get this protection. These laws apply to anyone that lives together. This includes parents and children, elders, and roommates. Working with a family lawyer Taking the first step and making the call to a lawyer can be daunting. Dealing with family issues can be extremely stressful. At Khader Law , it's our mission to provide you with an amicable and swift solution to your family law issues. We'll be with you every step of the way, from mediation to hearings and trials. Give us a call so we can start making our plan to advocate for the resolution that you deserve.