Sometimes, it isn’t enough to state that you are trustworthy or financially capable of paying a loan back. You need an outside third party to validate your claims. Or you want to make a strategic decision and are unsure if it is right or legally allowed. You need an outside third party to validate your decisions and provide confidence that you are making the right decision. An attorney opinion letter can be the official answer you need.
What Is an Attorney Opinion Letter?
Lawyers dedicate their careers to knowing and interpreting the law. While you can meet with one for a consultation, this is not an official legal statement. Having your lawyer prepare an opinion letter gives you a formal and documented official answer. It will outline their recommendations based on their professional judgment in response to your legal question.
Opinion letters are a thorough and well-researched document. It will identify potential risks, liabilities, and consequences. It will also identify assets, benefits, and strengths. It will then outline the attorney’s opinions held based on their interpretation of the applicable law.
In certain situations, an outside interpretation of the law can provide helpful insight. These are common activities where you may need an attorney opinion letter.
- Due organization
- Enforceability
- Bankruptcy
- Note consolidation
- Usury
- Mortgage
- UCC
- Choice of law
Trustworthy Risk Assessment
When managing a business or making personal life decisions, it can help to have the guidance of a legal professional. This is especially true when your decisions may be impacted by legal uncertainty. An attorney opinion letter can provide legal insight into the rules, regulations, and statutes that may influence your decisions. This can highlight potential advantages or legal risks that come with decision-making.
If you operate a business, your attorney can draft an opinion letter on the bylaws. This can help you avoid making business strategy decisions that violate the company’s bylaws.
Third-Party Reliance
Sometimes, an attorney opinion letter becomes a useful tool when dealing with another party. This could be a lender, bank, or potential business partner. If you seek a loan or mortgage, an opinion letter can reassure you or your business is a viable borrower and should gain approval. The opinion letter will define the risks and liabilities that would present if granted the loan.
Informed Decision Making
You hire an attorney for their legal experience and knowledge. Your lawyer has a fiduciary duty to look out for your best interests. By asking your attorney for an opinion letter, you get their guidance in an official answer form. This can give you a deeper understanding of the legal landscape. With informed advice, you can make better decisions on legal matters.
Support in Litigation
Attorney opinion letters are not commonly used in litigation. However, there are some situations where it can be helpful. For example, if you previously obtained an attorney opinion letter, it may serve as evidence of your due diligence in a legal matter later on. Using an attorney opinion letter as evidence of the prevailing legal opinion or standard at a particular time could also be helpful. The law continually changes, so what may be the expected standard at the time of your agreement may change later on when legal conflict arises. An attorney opinion letter from when the agreement was made can help explain the parameters surrounding the agreement.
Get an Attorney Opinion Letter
There are many reasons you may want to obtain an attorney opinion letter. Perhaps you want legal advice for your business decisions. Or you could need one as a part of a real estate purchase. Whatever your needs, speaking with a lawyer experienced in writing opinion letters can assist. Your first step is to schedule a consultation with an attorney. Discuss your needs and how an attorney opinion letter can help. You can use your letter as an official answer to your matters.
Schedule a consultation with our experienced attorneys about your need for an attorney opinion letter.
