A buy-sell agreement helps lay the groundwork to make sure a business continues as planned if one of the owners can no longer maintain ownership. As the business evolves and grows, it is important that the agreement continues to align with its vision.
The Value of a Strong Business Continuation Plan
Does the current agreement protect you and your business during both planned and unplanned events, such as disability, death, desire to retire, divorce, and disagreement?
Does the agreement specify a mandatory buy-out if an owner becomes disabled or dies?
Is the agreement properly funded with both life and Disability Buy-Out (DBO) insurance?
Do you know the value of the business?
What purchase price is listed in the agreement?