Dear Mr. Duke:

Since I have worked in a variety of situations with a variety
of clients, my first suggestion is to contact an outside
attorney and an accountant.  You didn't specify whether or not
you would be getting any buy-out money, nor if there was a
partnership agreement in place.  However it's best to begin
your exit strategy now, especially since you noted that your
company was in serious debt.

It's likely you are responsible for the debts since you are a
partner in the company, and depending upon how your business
is set up, it can definitely affect you.  Also you will need
to get an independent audit of your books, especially if
you've never done it before, hence the outside accountant
referenced previously.  It may seem more trouble than what
it's worth now, but it'll be better in the long-term.  Let me
know if I can offer any other assistance.


Dwayne J. Briscoe, Owner
Bookkeeping-Results, LLC
5680 Highway 6, #129
Missouri City, TX 77459
http://www.bookkeeping-results.com
888-692-2083 (office)
713-898-1648 (cell)