Theron M Hall, Jr. was born and raised in Apache County, Arizona. During his youth, he worked for his parents' title company, where he gained a lasting appreciation for those who work hard to acquire their estates, and for the need of proper manag...
Practice areas & skills: Partnership, Business, Elder Law, Guardianship, Probate
Richard "Rick" Durfee has been practicing law since 1988. His practice is limited to estate and business planning, asset protection, and charitable planning for high net worth clients.
Practice areas & skills: Partnership, Tax, Corporate & Incorporation, Estate Planning
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A partnership is created when people pool resources and join together in business. There are several types of partnership agreements: In a general partnership, all partners manage the business and are personally liable for its debts. In limited partnerships, partners' liability is limited and they have no voice in decision-making. In a limited liability partnership (LLP), all partners have some degree of limited liability. In a limited liability company (LLC), a shareholder is not personally liable for any of the debts of the company, other than for the money they invested in that company. An attorney experienced with partnership agreements will help you decide whether a partnership is a good idea for your business, and which type of agreement would be best for you. Partnership lawyers will also make sure your partnership agreement accurately describes each partner's rights and responsibilities.