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.
Use these 5 questions to check in with your business owner clients:
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?
Do you have any questions or would like or would like you to discuss this topic further? Contact Abby Rediger at 877.455.0119 x231 or by email at firstname.lastname@example.org.