Buy-Sell Agreements

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.

Buy-Sell Services:

Business Valuations

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Pricing Approach Recommendation

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Buy-Sell Agreement Type Selection

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Collaboration with Attorneys, Insurance Agents & Others

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Payment Terms Negotiation

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Financing Consultation

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Interpretation of Existing Buy-Sell Agreement Terms

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Resolution of Interest Value Disputes

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Non-Compete Agreements

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Owner Interest Transfer Facilitation

LET’S START THE CONVERSATION. 
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Buy-Sell Agreement Resources

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“I have worked with Smith Schafer directly and indirectly since 1979. I’ve always felt comfortable and confident in the work they do. Smith Schafer knows the law, the regulations and the rules that support our business.”

 - Bruce Dischinger, former VP & COO | Minnesota Coaches Group

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 - Steve Staats, COO/CFO | Hiawatha Homecare

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 - Jo Reinhardt, CEO/President | Industrial Louvers, Inc.

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 - Bruce Dischinger, former VP & COO | Minnesota Coaches Group

“Smith Schafer takes care of my needs on a personal and professional level.  They prepare my personal returns, the returns for a couple other partnerships, as well as our corporate returns. When I have personal investing or tax questions, or needs for the business, they answer my questions or concerns with sound advice and don’t send me off on tangents or into risky ventures uninformed. They have always been available to discuss my needs.”

 - Jo Reinhardt, CEO/President | Industrial Louvers, Inc.

“Since 1995, we have been approached by other CPA firms and have occasionally put our audit out to bid, but Smith Schafer is always the one we choose. They understand the complexities of our business, and their professionalism is outstanding.”

 - Brad Lohrbach, Executive Director | Family Service Rochester

“We made a small company acquisition. Smith Schafer did a great job with the analysis, helping look at how the financials appeared on paper versus how they likely would have appeared as a part of our operations…it was a smooth process and a comfortable one in spite of a short timeline. We closed with all the i’s dotted and the t’s crossed and were confident in the results.”

 - Bruce Dischinger, former VP & COO | Minnesota Coaches Group

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 - Mark Faris, Founder & President | MVP Ethics & MVP Chauffeur Services

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 - Jo Reinhardt, CEO/President | Industrial Louvers, Inc.

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 - Bruce Dischinger, former VP & COO | Minnesota Coaches Group

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 - Steve Staats, COO/CFO | Hiawatha Homecare

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 - Paul Siewert, President | Siewert Construction/Star Realty

“We’ve grown to a 200-employee business. Smith Schafer keeps up on the state and IRS regulations for us so we don’t have to do that internally. This allows us to focus on what we do best for our clients, families and employees.”

 - Steve Staats, COO/CFO | Hiawatha Homecare

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 - Ruth Stoyke | Owner, Harbor View Cafe

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 - Mark Faris, Founder & President | MVP Ethics & MVP Chauffeur Services

“History with Al Schafer since 1991 and now service with Jason Boynton. The proactive changes with electronic communications and tax return access is much better than the paper format of the past.”

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