Estate Planning | Making a Difference One Family at a Time

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buy-sell agreementSmall business owners face certain estate planning challenges, and this can be particularly true when there is a partnership. What would take place if one business partner was to pass away?

There is a business succession solution that is often utilized when this type of scenario exists. Let’s look at the details.

Buy-Sell Agreements

Let’s explain by way of example. Suppose you are one of three small business partners. Your business is thriving, and the share that is owned by each respective partner is quite valuable. The share that you own is actually your most significant monetary asset, and you would like its value to be spread among multiple different heirs after you pass away.

How could you make this vision a reality? If you simply allow your family to sell your share after you die, your partners would be placed in a helpless situation. They would have no say over the new partner’s identity. You would be in the same position if you were a surviving partner, so everyone would be on equal footing.

Under these circumstances, you could use a buy-sell agreement as an estate planning special reports library and follow the instructions to access your copy of any report that interests you.

Access Our Worksheet

Our estate planning attorneys have devised a very useful worksheet that you can use to gain a more complete understanding of the estate planning process. It is being offered free of charge right now, and we urge you to take advantage of this learning opportunity.

To get your copy, visit our estate planning contact us electronically to set up an appointment.

 

 

Jeffrey A. Nirenstein, Estate Planning Attorney
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