Whether you're just starting out or years in, most partner friction comes from expectations nobody said out loud. These are the questions worth answering together.
Stay Partners has more than 100 core questions, plus a deeper set when you want to go further. You each answer on your own. Neither of you sees the other's answer until you've both answered — then you see where you stand and agree on one wording together.
This is a conversation guide, not legal advice.
Capital Contributions
Who puts in what — cash, equipment, time, relationships.
- What types of value will this member contribute when joining the company?
- How much cash will this member contribute initially?
- What property or equipment will this member contribute?
Why it matters
What each of you brings shapes what feels fair later, especially when one person puts in money and the other puts in time.
If your answers differ
Say one partner brings a $20,000 van and the other brings their client list. Talk through whether those count the same, and write down what you decide.
Distributions
When money comes out, and how it's split.
- What overall approach should the company use for distributions to members?
- If the policy includes scheduled distributions, how often should the company evaluate and make them?
- What custom distribution schedule should apply?
Why it matters
Partners often assume different things about paying themselves versus putting profit back into the business.
If your answers differ
If one of you expects a monthly draw and the other wants to reinvest for a year, agree on a starting rule and a date to revisit it.
Management & Voting
Who decides what, and what needs everyone's yes.
- Which governance structure should the LLC use for management authority?
- If designated managers will govern, may managers be members, non-members, or either?
- Who should serve as the initial manager or managers, or on the initial governing body?
Why it matters
Day-to-day calls and big decisions need different rules, or small disagreements turn into stalemates.
If your answers differ
Maybe one of you thinks any purchase over $500 needs both of you, and the other says $5,000. Pick a number together.
Making decisions in a 50/50 partnership →Transfers & Buy-Sell
What happens if someone wants to sell or bring someone in.
- What general rule should apply before a member may transfer any part of an ownership interest?
- Which estate-planning or family transfers should be permitted without the ordinary sale-consent process, subject to stated safeguards?
- Until formally admitted as a member, should a transferee receive only the transferred economic rights and no management or voting rights?
Why it matters
Nobody expects to sell, but plans, families, and opportunities change.
If your answers differ
If one partner is fine with a new investor and the other isn't, discuss what would need to be true for both of you to say yes.
Dissociation & Exit
Leaving, retiring, or the things nobody likes to think about.
- May a member voluntarily withdraw and require an exit process while the company continues?
- How many days’ written notice should a member give before a permitted voluntary withdrawal becomes effective?
- When a member dies, what should happen to that member’s interest while the company continues?
Why it matters
Talking about an exit while things are good is far easier than during a hard moment.
If your answers differ
If you have different ideas about how a departing partner gets paid out, compare the timelines each of you had in mind.
Dissolution & Winding Up
If you ever decide to close, how it works.
- What member approval should be required to voluntarily dissolve the company before any fixed or project endpoint?
- If the company has a fixed date or project-completion term, what should happen when that endpoint arrives?
- How should the agreement address dissolution required by law, administrative action, or a final judicial order?
Why it matters
Knowing how you'd wind down removes a lot of fear from the hard conversations.
If your answers differ
If one of you assumes equipment gets sold and the other assumes it gets split, settle that now while it's hypothetical.
