Buy-Sell Agreements

    The death of an owner or partner of a business can cause financial problems and hardship for the business. Buy-sell agreements are plans used by
    members of a partnership and stockholders in closely-held corporations to assure that funds are provided to allow remaining owners to buy the
    deceased's portion of the business.

    In order to guarantee a buyer for the interest in a business, consideration should be given to a lifetime agreement among the business owners as to
    how to dispose of or continue with the business.

    Advantages of Buy-Sell Agreements

  • Can guarantee a buyer for an asset which may not pay regular income to one's heirs.
  • Under certain circumstances, can establish a value for federal estate purposes which is binding on the IRS.
  • Can spell out the terms of payment and is easily funded by life insurance and disability insurance, if desirable.
  • Can provide a smooth transition of complete control and ownership to those who are going to keep the business going.

Buy Sell Agreement
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