Legal Docs for Buying a BOB??

[brokerbill]

Hello All,

I am buying a book of business from another broker here in CA for 122% of the annual commissions to be paid over 3 years. It is pretty straight forward, we will do book of business transfers at the carrier level and I will pay him the agreed upon rate for 3 years. Most of this payout I will 1099 him for, but $15k/year will be "goodwill" and thus on my taxable income even though paid to him.

I am hoping some of you can direct me toward some kind of template that will help reduce my legal fees. I would rather visit the lawyer with a document that needs to be revised...rather than have them write the whole thing.

Any suggestions on where I can go to find templates for this kind of thing?

 

[Broker007]

You may want to consult a business broker in your state whom handles these types of transactions on a consistent basis. Business brokers DO NOT PRACTICE LAW, however most active brokers keep boilerplate or "starter" contracts that can be amended for specificity which have been executed previously and passed legal scrutiny.

 

[2014Camaross]

Check out a legalshield plan will give you a greatly reduced rate when dealing with a top rated attorney , the business plan would be 75$/month,,
legalshield.com/hub/wayne31
My number is on the top, give a call with any questions

 

[Cornelius]

Check out a legalshield plan will give you a greatly reduced rate when dealing with a top rated attorney , the business plan would be 75$/month,,
legalshield.com/hub/wayne31
My number is on the top, give a call with any questions

Rates are changing on Dec. 31, 2013 so check with Wayne ASAP.