Family partnership agreement
A document drawn just for you to your exact requirements. Free discussion before we provide an estimate. Fixed fee for each stage of work.
Key features
England & Wales
Scotland
- Length:14 pages (4200 words)
- Available in:
Microsoft Word DOCX
Apple Pages
RTF
If the document isn’t right for your circumstances for any reason, just tell us and we’ll refund you in full immediately.
We avoid legal terminology unless necessary. Plain English makes our documents easy to understand, easy to edit and more likely to be accepted.
You don’t need legal knowledge to use our documents. We explain what to edit and how in the guidance notes included at the end of the document.
Email us with questions about editing your document. Use our Lawyer Assist service if you’d like our legal team to check your document will do as you intend.
About this document
This agreement has been drawn for people working in business together who simply do not need the “bells and whistles” of the full version we also offer - most likely because there is greater trust between partners.
However, we must make clear that this is not a basic or cut down version. This document has been professionally drawn to protect your interests and to provide a really useful commercial framework for your work together.
Why having a written agreement is important
The law relating to partnerships is basic, and over 100 years old. It doesn't reflect how modern day businesses operate. A good agreement therefore should not only improve on the default provisions, but also include paragraphs that set out in greater detail how your business will work.
Many families or groups of friends enter into business with each other without a formal agreement because they feel that there is no need to formalise the relationship when there is a high level of trust between the partners. That is fine - the reason to use an agreement with family and friends does not have to be for protection, but should be to contract out of the brutal default provisions of the Partnership Act 1890.
When to use this document
This agreement is ideal for groups of friends working together or for a family business where there is already a high level of trust and co-operation between the business partners.
This agreement could be used in any of the following situations:
when two or more friends start a new business together
when a new person takes a share in an existing business operated by one person
when existing family partners want to formalise their partnership arrangement
when existing partners want to change the balance of control and ownership of the business
Main contents
- Partnership shares
- Partnership property
- Setting up: money, shares, duration
- Drawings
- Meetings and voting
- Holidays, cars and other parts of the framework
- Accounts and records
- Restrictions to protect other partners
- Expulsion
- Comprehensive termination provisions to protect ongoing partners
- Other partnership terms
- Other legal paragraphs to protect your interests
Recent reviews
Thank you guys.
Choose the level of support you need
Document only
Comprehensive template covering legal and practical points - Detailed guidance notes a step-by-step instructions to help you complete your document with confidence.
- Up to date with latest law our lawyers regularly review how new relevant law affects each document in our library
- Written in plain English avoiding legal terminology unless necessary. plain English makes our documents easy to understand, easy to edit and more likely to be accepted
- Support from our legal team email us with questions about editing your document
- Money back guarantee that if the document isn't right
Lawyer Assist
- Comprehensive template covering legal and practical points
- Detailed guidance notes a step-by-step instructions to help you complete your document with confidence.
- Custom workspace - get expert answers fast: a dedicated space for priority expert assistance, keeping you on track.
- Review of your edited document by our legal team including:
- understanding your requirements
- checking that your document will achieve your goal
- reporting on whether your changes comply with the law
- answering your questions about how to word a new clause or achieve an outcome
- checking that your use of defined terms is correct and consistent
- correcting spelling mistakes
- reformatting the document ready to sign
Bespoke
- A document drawn just for you to your exact requirements
- Personalised service provided by an experienced solicitor
- Free discussion before we provide an estimate, for you to ask questions and for us to understand your requirements
- Transparent fees
- fixed fee to draw a document to your initial instructions
- additional or changed instructions charged either at fixed rates or on a time basis as agreed with you
- no charges for office overheads or third party disbursements
- Careful and thorough consideration of your circumstances and your consequent likely practical and legal requirements
- Provision of options that you may not have considered with availability for discussion
- Help and advice woven into the fabric of our service so that you can make the best decisions
Standard
- Allowed downloads from entire Library10
(average document price £30) - Lawyer Assist Service included
(average price £149) - Custom workspace - get expert answers fast
- Discount on further Lawyer Assist30%
- Discount on Bespoke Drafting
- Telephone support
- Priority email support
Professional
- Allowed downloads from entire Library25
(average document price £30) - Lawyer Assist Service included
(average price £149) - Custom workspace - get expert answers fast
- Discount on further Lawyer Assist40%
- Discount on Bespoke Drafting10%
- Telephone support
- Priority email support
Professional Plus
- Allowed downloads from entire Library25
(average document price £30) - Lawyer Assist Service included2
(average price £149) - Custom workspace - get expert answers fast
- Discount on further Lawyer Assist40%
- Discount on Bespoke Drafting20%
- Telephone support
- Priority email support
All rights reserved