Any time you set up a business of the complexity you describe you need a lawyer. For example, what if one of you ceases to work or wants to be bought out? You would need a buy-sell agreement. Do you have samples of all the forms you need and do you know all the forms legal required? Do you know how to issue membership interests in the LLC so they are valid. Who will prepare your contract(s) with the elderly? Who will know if the elderly have capacity to sign and what to do if they don't. Find a lawyer who understands your limited budget and develop a long term relationship.
Answered on Sep 27th, 2012 at 12:12 PM