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Paul Berlin: Posted on Thursday, October 06, 2011 4:17 PM
 A formal buy sell agreement is between owners of a business to determine how the ownership of the business shall be disposed of upon the death or other circumstances of exit of one of the owners. The owners commonly use life insurance to fund the value. With two business owners, a cross purchase plan is the preferred method of ownership of the life insurance. This is where partner A owns a policy the life of on Partner B and vice versa. These policies are individually owned, and can be paid for from company money. |
Estate Planning, divorce, married, Life Insurance, tax savings, Business, Business law', business valuation, buy sell agreement, contracts, corporation, dissolution, exit strategy, financing, Limited liability, LLC, LLP, partnership, succession planning, trusted advisor
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Nina Stillman: Posted on Tuesday, September 20, 2011 8:02 PM
 You would sound an alarm if someone walked off with half of your money or your household possessions right? If you are a business owner with partners and have not put a Buy/Sell Agreement in place you could watch part of your business walk right out the door and never know what hit you. A Buy/Sell Agreement is a must. This is an agreement between business owners that spells out the terms by which any of you are allowed to be compensated for your share of ownership of the business upon certain events occurring. |
Attorney, Estate Planning, divorce, married, Life Insurance, Business, Business law', business valuation, buy sell agreement, corporation, dissolution, exit strategy, financing, LLC, LLP, partnership, sale of business, succession planning, bankruptcy, criminal, disability, fraud, retirement
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Nina Stillman: Posted on Thursday, September 15, 2011 8:03 PM
 Just like moving into a new house, starting a business can be so exciting! Getting your concept off the ground and going gets the adrenaline pumping!!! But what about the formation of your business and making sure the foundation is strong and stable? You buy homeowner's insurance to protect your new house - so why would you not get the same type of insurance policy for your new business.... yes, you would get property and casualty insurance, but your business lawyer can provide a huge amount of protection as well. |
Attorney, Business, Business law', business taxes, business valuation, buy sell agreement, compliance, contracts, copyright, corpoation, corporation, dissolution, employment, exit strategy, financing, leases, Limited liability, LLC, LLP, partnership, patent, real estate, regulations, sale of business, service mark, succession planning, taxes, trade secret, trademark, trusted advisor, vendor
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