Buy-Sell Agreement

What will happen to your company if your business partner passes away? Will you own it outright or will you share the company with the heirs of your business partner? These are questions most business owners don't know the answer to because they do not have a Buy-Sell Agreement in place. Without a Buy-Sell Agreement, a business can face a world of financial and tax problems if an owner passes away, is divorced, retires, or leaves the company one way or another.

Use the Buy-Sell Agreement document if:

• You co-own your business and want to restrict other owners from selling their business interests to other persons or entities who may or may not have the best interest of the company in mind.
• You want to require owners (or their estates) to have to sell their business interests in the company if the owner becomes disabled, retires, or dies, so that the remaining owners can retain full control of the company.
• You want to require the remaining owners (or the company) to purchase the business interests of an owner who becomes disabled, retires or dies, so that there is a market for those business interests.
• You want to establish a fair price for the business interests in advance of any serious disagreements between an owner who wants to sell out and the owners who wish to remain.