Master risk participation agreement template – Can the free legal documents offered on the Net be a replacement for consulting with a lawyer?
In some instances, most definitely.
To give a simple example: The law in your state may require a written contract for the sale of goods over a certain value. Or for that matter, you may choose to grant your parent a power of attorney to sell something on your behalf whilst away on holiday. It does not need specialized legal knowledge to compile a bill of sale for a motorcycle, automobile or other goods or to draw up a limited power of attorney.
Likewise, a young person without a lot of assets may want to draft a final will and testament or a living will. For most young people a conventional legal template can be used to make their files and the forms can be downloaded free from the web, without incurring legal expenses. Of course, it will be a different case for a billionaire with several assets and a complex will where consultation with a legal and/or financial expert is invaluable.
Many parents recognize the need for a medical consent form for a babysitter in case of a medical emergency. Or they may require a broader temporary guardianship form if their child will be staying with a family member or trusted friend. These sample forms are freely available online.
Free legal documents are particularly valuable when they are also accompanied by legal guidelines on how to complete them.
Even though the law recognizes oral agreements, it always makes sense to get it in writing to avoid arguments over what exactly was agreed upon. Using sample legal documents to compile your own contracts is no different to lawyers using their existing templates for standard agreements.
Of course there are many instances where you must check with a lawyer. Again, you may use the free legal files and free legal information available on the Internet to do your preparation ahead and so lower the consulting time – and hours charged. Please take a look our master risk participation agreement template on the attachment page.
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