Should you invest in your dopey nephew’s business?

Nina L. Kaufman, Esq.

Nina L. Kaufman, Esq.

An award-winning small business attorney in New York City, Nina is a sought-after professional speaker and Entrepreneur Magazine online contributor. She is the go-to counsel for knowledge economy and creative companies, delivering legal services and educational resources that save them time, money, and aggravation.

Posted on July 1, 2020 in Business Partners

Ever been hit up to invest in a friend’s or family member’s business? Is it wise to do so—given that you know them so well? What steps should you take when asked to invest (or lend money for) a loved one’s business?
Tune in to Wall Street Journal Radio, where I sit down with Veronica Dagher on the “Watching Your Wealth” program.  We identify:

•    The top red flags that come up—and how to tackle them confidently
•    Why you need to be even extra formal in your conversations about expectations
•    The very first thing you should get in hand from your friend/relative before you invest
•    How often you should check in about your investment

Listen to the very end as we have some fun when I take their financial questionnaire.

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