# How to Plan for These 5 Deadly D’s of Business Partnerships

- Link: https://www.lumlawgroup.com/how-to-plan-for-these-5-deadly-ds-of-business-partnerships/
- Published: 2019-03-01T11:11:01-08:00
- Author: Albert J Lum

Your partnership may be going along smoothly without a worry in sight. However, 
it’s important that you and your partner talk about what you would do in the case
of certain events. Some of the subjects can be difficult to talk about, but it is
better that you are prepared for whatever may happen.

## Disinterest

No matter how excited you are for your business, you can’t always know how excited
your partner is going to be during the long run. There needs to an exit clause within
your partnership agreement that allows your partner to leave if they are more interested
in other career opportunities. You will need to put in place that your partner will
not be financially compensated if they leave due to disinterest.

## 󠀁[Divorce](https://www.mentalhealthamerica.net/separation-and-divorce)󠁿

When your partner goes through a divorce, it is going to be difficult to deal with
their ex. Since California is a community property state, they will most likely 
have a stake in your business due to their marriage with their partner. It is important
to get a lawyer involved in order to deal with an ex-spouse who wants to take as
much as they can get their hands on during a divorce. Even when an ex is just trying
to stick it to the one they are divorcing, it is easy for you to get caught in the
crossfire.

###### Source: 󠀁[https://www.mentalhealthamerica.net/separation-and-divorce](https://www.mentalhealthamerica.net/separation-and-divorce)󠁿

## Drug Addiction

One thing that will keep any business from flourishing is someone who is addicted
to drugs. What often begins as an innocuous use of prescription pain management 
solution can easily spiral out of control. As conventional substances cease to provide
the relief they once did, users begin seeking stronger substances such as _fentanyl_
or _heroin_. This doesn’t make someone bad, it just means that they need help. It
is important to confront your partner when you feel as though they might be sliding
down a slippery slope. If they are not willing to get the treatment they need, you
may need to push them out of the partnership. There are legal ways that you can 
do this with the help of an attorney.

###### Source: 󠀁[https://www.therecoveryvillage.com/fentanyl-addiction/treatment-rehab/](https://www.therecoveryvillage.com/fentanyl-addiction/treatment-rehab/)󠁿

## Default

When your partner has financial issues of their own, it could begin to affect you
as well. If they are so far behind on their payments that they are defaulting, their
creditors could come after your business. This is why it is important to have your
business protected by articles of organization. A limited liability partnership 
will disallow creditors from levying your business income or targeting your business
assets. 

## Death

The last thing that you will want to talk about with your partner is the potential
of death. However, there are times when untimely deaths happen in a partnership.
It is crucial to sit down with your partner and an attorney to go over what is going
to happen in the event that one partner dies. They need to put in their will what
will happen to their stake in the business.

###### Source: 󠀁[https://justwillsandlegalservices.co.uk/latest-news/happens-business-partner-dies/](https://justwillsandlegalservices.co.uk/latest-news/happens-business-partner-dies/)󠁿

 While having a partnership comes with certain obstacles, there are still great
advantages to starting a business with someone you trust and love working with. 
Before long, you can have all of the legalities in place that will help you have
a partnership in a safe and easy way.  **If you need help in establishing a partnership
or starting a business, let **[**Lum Law Group**](https://lumlawgroup.com/Staging/contact-us)**
help! **