Buy/Sell Agreements – Planning Ahead

For small businesses with two or more owners, a buy/sell agreement can help prevent challenging situations from becoming unbearable.

When one of the business owners dies, becomes disabled, divorces or just says “I have had enough – I am out of here” that can be challenge for the remaining owner or owners just to keep the business operating.  That challenge can be unbearable if there is no arrangement in place to deal with those situations.

One of my fellow lawyer bloggers wrote an excellent article on buy/sell agreements.  The article raises a number of questions that business owners should think about.  Just thinking about these questions should provide a mental picture.  That picture may be as sobering as Ebenzer Scrooge’s glimpse of “Christmas yet to come.”  Fortunately, like Scrooge there is an opportunity to do something about it.

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