My law firm is primarily a transactional law firm. We work with clients on putting together deals or transactions and documenting them. What do good records look like? In this post, we will discuss points related to a transactional matter.
#1 Start by looking at your historical records. What shape are they in? Have you gone through and made sure that everything is correct? Are all pieces there? All relevant documents? Much attorney time is spent cleaning up historical records. Make sure, for any prior transactions, you have the records for them complete and organized.
#2 The current transaction should only contain relevant documentation, so weed out unrelated documents that do not need review. Otherwise, your attorney will waste valuable time looking through your papers. Try to minimize the amount of time spent in a law office, because that will help keep your overall cost down.
#3 Are the objectives clearly defined? When working on your upcoming transaction, the attorney should be focused on the files and records for relevant issues. This means having a real conversation in the beginning about what needs to be accomplished and why.
What has been your experience with putting records together to work with an attorney? Are you well organized? What could you do better? How can you work to keep your costs down in the future? Join us in the comments below, we’d love to hear from you.
Each case is unique. Past results do not guarantee future outcomes. This posting is intended to be a tool to familiarize readers with some of the issues discussed herein. This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique. Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. FreeImages.com/photographer Afonso Lima.
Check us out on the web.
Add us on Twitter: @rsmlawpllc
Like us on Facebook: https://www.facebook.com/TheRShawnMcBrideLaw
Make sure you download our free reports on how to build your company the right way:
For More Information: Call (214) 418-0258 or email us.
Posted In: Business ManagementAbout the AuthorR. Shawn McBride — is the Managing Member of The R. Shawn McBride Law Firm, PLLC. Shawn works successful, private business owners in their growth and missions to make a company that stands the test of time. You can email R. Shawn McBride Law Firm or call (214) 418-0258.