Don’t run your business any longer without a good Buy-Sell Agreement.
Buy-Sell Agreement = documents what happens when a business owner wants to leave; becomes incapacitated; or passes away.
Here are 5 key elements to include:
- Triggering Events (death, disability, retirement, desire to sell).
- How will the business be valued?
- How will the purchase be funded (life insurance, installment payments, loan?)
- Right of First Refusal.
- Dispute resolution procedures.
A well-crafted Buy-Sell Agreement can prevent conflicts, ensure business continuity, and protect the interests of all owners.
Need help drafting an Agreement? Call us today.