New Fund Really Need an Attorney?

Discussion in 'Professional Trading' started by cmitseff, Jul 12, 2008.

  1. cmitseff


    Hey fellas,

    I'm in the process of starting a small fund (have 15m in committed capital) with a friend of mine. I'm familiar with all of the documents that need to be made and given to the limited partners, i.e. the PPM, LP Agreements, etc. However, can I myself make these documents, and have them written in plain English as opposed to legal documentation made by a lawyer? I know I can include all the pertinent information without using an attorney. So my question is this: What are the downsides, if any, to not using an attorney for the fund's paperwork and agreement documents? Thanks in advance for your comments.