June 5, 2017 @ 1:16 PM
You Have a Buy-Sell Agreement, Now What???
Do you have a buy-sell agreement? Do you know how you would actually buy the interest in the company should one of the other owners depart? Today’s client alert is to remind you that merely having a buy-sell agreement is not enough.
In most buy-sell agreements, should a member choose to depart (or depart due to circumstances beyond their control), the member has to offer his/her ownership interest in the company to the company or other owners of the company. This appears to solve the problem, right? Unfortunately, without a properly funded buy-sell agreement, the company or other owners may not be able to pay the departing owner for his/her interest, ...
February 17, 2016 @ 4:17 PM
How Big Is Your Buy-Sell Risk? Other Shareholders will Leave…!
Buy-Sell Agreements and Life Insurance
►Create the Buy-Sell. Business owners typically require other owners to enter into buy-sell agreements with the company and/or other owners, providing that the company (or other current owners) shall have the right to purchase the ownership interest of an owner exiting due to retirement, disability, or death.
Key Elements. A buy-sell agreement may be drafted to adjust over time and provide a buy-out price for whenever an ...
February 4, 2016 @ 2:40 PM
Who Would Own Your Business Today…
If you died, retired or became disabled yesterday?
▶What would happen to your business if you suddenly became unable to run the business due to physical or mental impairment?
▶Would the right people be able to obtain the necessary roles to keep the business running?
▶Can your business survive what may be weeks or months of your absence while you recuperate?
▶If you were unable to return to work would you want your business retained by your loved ones, sold to the highest bidder, or should the right of first refusal be provided to a hand-picked individual?
▶Would your trusted employees be provided continued employment? Is there a ...