“Your Co-owned Business
Probably Needs a “Buy-Sell Agreement’”
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with all the details…
Are you the co-owner of an existing business?
Might you be buying an existing business with some other owners?
Might you be founding a new business with some other owners?
If you are, you should really consider putting a
“buy-sell” agreement in place.
Why? Because a well drafted and funded buy-sell agreement can help you:
- Turn your business ownership into a more liquid asset
- Prevent unwanted ownership changes
- Save on taxes and avoid hassles with the IRS
Buy-sell agreements come in two basic flavors.
(Here’s the story in a nutshell.)
Cross-purchase agreements. A cross-purchase agreement
is a contract between you and the other co-owners.
[Under the agreement, the remaining co-owners must purchase the withdrawing co-owner’s
ownership-interest when a triggering event, like as death or disability, occurs.]
A redemption agreement is a contract between the
business entity itself and its co-owners, including you.
[Under the agreement, the entity must purchase the withdrawing
co-owner’s ownership interest when a triggering event occurs.]
Of course, this is just the tip of the iceberg. In my new article I’ll cover important subjects like these…
- The huge impact of “triggering-events”
- Valuation and payment terms
- Using life insurance to fund the buy-sell agreement
- How to fund the redemption agreement the smart way
- Creating certainty for your heirs
- Guides for C corporations and S corporations
And much more.
If you co-own a business, don’t wait!
CLICK HERE to read my completely new article titled:
“Your Co-owned Business
Probably Needs a “Buy-Sell Agreement’”