I have been in the insurance business for 44 years and I have had two partnerships that didn't go well. I'm still working because I lost over $40,000 on the last partnership. I would say no to a partner ship. The last partner sang in the choir at the church I attend and I had worked with him selling final expense insurance for a company. Even though we had legal agreements drawn up by an attorney that stated I could terminate him as a partner for any reason within the first 12 months I still had to sue him to get him out and sign over his stock. After several months of legal wrangling my attorney called and said the next step was to go to the court room and that there was no doubt the merits of the case were on my side, but it would cost at least $12,000 to proceed and there was no need to throw good money after bad. Also, my attorney checked out my partner and everything he owned was in his wife's name, so even if I got a judgment against him it would be useless to try to collect. I had to let him off the hook and it still took time to get him to sign over his 49% of the stock. I am still bitter and had to go to another church because when I see him I get knots in my stomach. I will never have another partner.
