It is not required by law that you talk with an attorney before talking with an investor, but it is wise to do so. The rules regulating investments and securities are very complicated. Unless you are very sophisticated in both business and law, contacting an attorney will be a wise decision. I am planning to raise money through a small group of wealthy individuals. In short, you need to check your state law.
Many states have prospectus exemptions similar to regulation A of the Federal Securities Act.
Regulation A provides an alternative to the customary filing of a prospectus. Under regulation A, if the aggregate offering price is not more than 5 million, including no more than 1.5 million offered by all existing security holders, and if the issuer, underwriters, and other specified parties meet specified requirements, a prospectus does not have to be filed. The contents of the statement are similar to those of a prospectus. However, issuers may solicit investor interest before filing an offering statement. This enables the issuer an opportunity to measure investment interest.