Over time most of us working in the entertainment industry develop close personal, professional, and creative relationships with people who seem to share our vision for the kinds of projects we want to produce. Some of us are even fortunate enough to have family members in the industry who want to work beside us to bring common dreams to fruition. And, indeed, one can point to some very long term production partnerships like the Coen Brothers, the Wachowskis, Michael Bay, Brad Fuller & Andrew Form, that have turned out to be incredibly profitable and creatively powerful over many decades. Having said that, one of the most dangerous things you can do from a financial, personal, and a creative perspective is to commit to producing a project with a friend or a family member without carefully weighing the risks and taking significant steps to limit them. It would be a shame if deciding to produce a film with someone you love and love to work with resulted in the termination of an important relationship and an expensive financial disaster. It’s also true that even people love you can make expensive mistakes that cause you significant personal, professional, and financial harm.