If you are in business with family members or have a partner, you may need a buy sell agreement or cross purchase plan. An untimely, unplanned death or disability of an owner can be devastating to some companies. Sometimes jeopardizing the viability of the company to stay open. Prior planning can help the company weather any unforeseen event.

Heirs and the IRS will want to have a say in the ultimate disposition of business asset in case of a death or disability of one of the owners. Up to date valuation data needs to be incorporated into your planning. Buy / Sell Agreements and Cross Purchase plans need to make provisions for funding the buyout. Alternate funding options should be reviewed to meet the needs of each business partner. We can help.

If you would like a no-obligation consultation to see if a buy/sell is necessary for my company please email us.