Please take a look at the following sample partnership agreement. The agreement is designed to serve as a template to foster discussion regarding issues that need to be considered in any partnership, particularly one involving multiple generations with disparate goals. At twelve pages long, there is a lot there. Take a look at each section heading, which highlights the necessary sections. Language within those sections should be changed based on individual circumstances.  As such, this partnership agreement should not be construed as a valid legal document or legal advice. Use it to inspire decisions about the way you want your future partnership, LLC or Corporation to look.