Dental expense sharing agreements
What is a dental expense sharing agreement?
Rather than entering into a conventional partnership together with all of the associated duties and liabilities, you may find that a specifically drafted dental expense sharing agreement will be better suited to your practice. An expense sharing agreement allows the dentists at the practice to simply work alongside one another sharing common expenses, such as rent, utilities, equipment costs or a receptionist’s wages as just a few examples.
Whilst dental expense sharing agreements offer a high level of flexibility, they also give the individual dentists the ability to maintain certain boundaries such as income, patient lists or personal assets.
Why have an expense sharing agreement drafted by a solicitor?
The terms of an expense sharing agreement can vary significantly. It is very easy to accidentally enter into a full-blown partnership by mistake. Whilst this might not be the end of the world whilst things are running smoothly it may have a catastrophic impact when you come to retire or sell your practice for example. Therefore it is vital that such an important step should not be undertaken without an appropriate specially drafted written agreement being put in place to protect your interests.
How can we help you?
Our dental solicitors can draft an agreement tailored to the individual needs of the practitioners in order to protect both parties should a dispute arise further down the road. It is always better to deal with the agreement before this dispute arises!
Our dental lawyers are based in Sheffield, South Yorkshire, but regularly represent dentists from across England and Wales.