You've worked hard to build your business.
Your business doesn't have to stop due to an untimely passing of you or a business partner.
A buy-sell agreement is used to transfer ownership at key life events, such as, death, disability, or divorce.
Structuring a buy-sell agreement can help with a number of issues:
- Makes sure there is a buyer upon the death of an owner
- The deceased owner's family is provided with liquid funds
- Can avoid conflicts of interest between the surviving owner(s) and the deceased owner's family member(s)
- Helps reduce valuation difficulties
- Eliminates lack of marketability issues
There are a number of ways to structure a buy sell agreement, we've listed and linked some educational materials below: