If you own a business jointly with others, we recommend you establish an owner buy/sell agreement which governs what happens in situations, such as disability or death of an owner or an owner wants to dispose of their ownership interest.
Want to know where your ownership interest will go? Put it in writing.
A buy-sell agreement serves to solve a number of problems in advance of any potentially contentious times in the business. Essentially, the corporation, business partners or shareholders can agree to the terms and conditions of a future mandatory or optional sale upon the occurrence of a triggering event. This can smooth the transfer of ownership interest in the case of retirement, death, disability, divorce, termination of employment, loss of a professional license, transfer of ownership, bankruptcy, insolvency or receipt of a third-party offer to purchase the business. Working with an experienced CPA will help you ensure all the financial details of the agreement are correctly prepared.
Smith Schafer works with Minnesota businesses, in multiple industries, to prepare and implement buy-sell agreements. Whether you’re hoping to establish a fair purchase price for ownership interest, resolve estate liquidity issues, reduce disputes or simply gain peace of mind by securing the future sale of your business interest, we can advise you on the best approach for your circumstances.
Pricing Approach Recommendation
Buy-Sell Agreement Type Selection
Collaboration with Attorneys, Insurance Agents & Others
Payment Terms Negotiation
Interpretation of Existing Buy-Sell Agreement Terms
Resolution of Interest Value Disputes
Owner Interest Transfer Facilitation
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Buy-Sell Agreement Resources
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