Practice Your Buy-Sell Agreement

By Todd Russell

Have you honestly read through your buy-sell agreement from start to finish? If you have, do you understand how it works? Or was it created and filed away without giving it much thought? Picture these possibilities: your business partner goes through a divorce, quits on you, has an accident and is totally disabled, or tragically passes away. Are you prepared to navigate purchasing their ownership interests based on the road map outlined in your agreement? And at what price? More importantly, do you have the means to fulfill the payment obligation, whether through immediate funds, business cash flow or secured financing? If not, are you prepared to be in business with their spouse or children? Perhaps worse, their ex-spouse? Now, consider the flip side. What if you find yourself in the same unfortunate circumstances? Does your agreement designate a mandatory buyer for your interests? Is the predetermined price fair and equitable for you or your family? Can your remaining business partner or partners afford the buyout without jeopardizing the stability of the business? Whether you are buying or selling, the goal is to ensure fairness and satisfaction for all parties involved.

• Format: Paperback
• Language: English
• ISBN: B0D7PYV7L1
• ISBN13: 9798327988903
• Release Date: June 2024
• Publisher: Independently published
• Length: 26 Pages
• Weight: 0.11 lbs.
• Dimensions: 9.0" x 0.1" x 6.0"