Partnership Dissolution Art of the Deal

We are well known as assertive, no-nonsense litigators with a resourceful and innovative approach to achieving results for our clients. 

Partnership Dissolution Attorneys in
Fort Lauderdale

Experienced Attorneys Helping Businesses
Resolve Disputes

Partnership dissolution refers to the act of terminating or winding up a partnership. Dissolving this entity is a significant decision that will affect each of its members. At Stok Kon + Braverman, we understand the financial concerns that surround these matters, and our capable lawyers will advocate zealously for your rights. Our lawyers proudly represent clients in all of Broward County.

Implications of Terminating a Partnership

A partnership is created when two or more people mutually agree to conduct a business together for profit. This can happen even when there is no formal intent or written agreement to form such an entity. While general partnerships are not subject to any specific requirements, they do need to comply with the basic registration, filing, and tax rules that pertain to any Florida business.

Dissolution is the official end to the existence of a registered business, which puts it beyond the reach of creditors and claimants. A partnership can be dissolved by consent of all the partners involved, by agreement in accordance with the partnership deed, by notice from one partner to the others, through bankruptcy, or by a court order. There also may be an external event that leads to dissolution, such as the death of a partner.

In these situations, each partner is entitled to have partnership property applied to pay outstanding debts owed by the entity. Each partner also has the right to collect a share of the surplus profits, if there are any, that is proportionate to their interest in the company. Our attorneys can assist you in these efforts.

How Partnerships Are Dissolved

When it comes to voluntarily dissolving a business, partners should initially consult any documents that contain rules for how to terminate it. If a procedure for dissolution is outlined in the partnership agreement, that procedure controls. If dissolution is not discussed in the partnership agreement, the parties are free to come up with a separate agreement on how to handle this process.

Dissolving a business partnership is governed by state law. In Florida, after an event occurs that triggers the end of a partnership, a certificate of dissolution must be prepared in compliance with state law and filed with the Florida Department of State. The certificate must be signed by all general partners, or a person appointed under the statute. It must include the name of the partnership, the date of filing the certificate of limited partnership, and the reason for filing the certificate of dissolution. A lawyer can help you make sure that you meet the requirements.

After taking this step, partners need to engage in a process often referred to as “winding up.” This consists of collecting the company’s assets, disposing of company property that will not be distributed in kind to those involved, discharging company liabilities, and paying creditors. Under Florida law, you are not required to obtain tax clearance before dissolving a partnership.

Dedicated Representation for Commercial Litigation

Partners seeking knowledgeable advice on how to end their entity should consult the attorneys at Stok Kon + Braverman. As we work through your case, our lawyers will stay committed to keeping you informed every step of the way regarding your business dissolution matter. You can expect the utmost professionalism from our entire team. We will assess the merits of your case and discuss all your legal rights and options in the detail that you need.

To learn more, call (954) 874-8870 or contact us online to arrange an appointment with an attorney.

Client Testimonials

  • “Mr. Braverman is highly respected in the community and I am grateful to have him as my lawyer. I would advise anyone in need of a divorce/ family law attorney to contact Mr. Braverman. You definitely want him on your side.”

    - R.J.K.
  • “They are a very professional company. I would highly recommend attorneys Benjamin Nigro and Robert A. Stok for any Real Estate matters.”

    - Alejandra G.
  • “If you are in the hands of a Boutique Attorney's firm like STOK, FOLK & KON, you can be sure that with their vast knowledge, experience, and hard work, they will accomplish positive results for you. I am proud to recommend these great Attorneys!”

    - Abraham C.
  • “I am very pleased with their amazing work and their customer service is great I am extremely happy with them.”

    - Will S.
  • “Benjamin P. Nigro is one of those people and there is no one in South Florida that I would rather have representing me.”

    - Former Client
  • Bankruptcy Bar Association: Southern District of Florida
  • The Florida Bar Board Certified - Marital & Family Law
  • Martindale Hubbell AV Preeminent Peer Rated
  • Expertise Best Real Estate Attorneys in Miami 2021
  • Super Lawyers Alan Braverman
  • Lawyers of Distinction
  • Super Lawyers

Contact Us Today

Schedule a Free Consultation
  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.