How a Consumer Hired a Lawyer to Review a Promissory Note Agreement in Florida

In 2023, a personal client in Florida sought assistance with a purchase agreement related to the retirement transition of a financial advisor. The seller was willing to transfer their book of business while receiving structured payments over 25 months, which needed to be classified as 1099 income for tax purposes rather than capital gains. It was crucial for the client to ensure the wording of the agreement reflected these requirements to facilitate this arrangement. As a result, the client received two proposals from licensed lawyers, with flat fee bids ranging from $1,000 to $2,100, all submitted to meet the requested deadline of less than one week.