Buy-Sell Agreements for Business Planning

Many people don’t realize their biggest asset is often their business. This month, we’ll cover what it means to protect your business with a buy-sell agreement. What is a Buy-Sell Agreement? A buy-sell agreement is a written agreement among business owners in which each person agrees that upon circumstance, their shares will be sold to the surviving owners at a specific price. Through this agreement, each owner commits to buying the shares of their absent co-owner upon the occurrence of a specified event, such as death, disability, financial trouble, or termination of employment. It is crucial for business owners to have a buy-sell...