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Planning for Business Continuation
When a business owner dies, surviving owners want...
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Total control of the business, without
interference from the deceased owner's heirs |
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A prompt transfer of the deceased owner's
interest, at a fair price to the surviving owner(s) |
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The loyalty and support of employees,
customers and creditors during and after the transition in ownership
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When a business owner dies, the deceased owner's heirs want...
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* Ongoing financial security after the loss of
the deceased owner's salary and benefits |
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* Prompt settlement of the deceased owner's
estate, including proper tax-valuation of the business interest |
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* Retention of the business interest by family
members...or a prompt sale of the interest at an attractive price |
Without a formal, written buy-sell agreement among the business owners,
unhappy consequences may result...
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* Conflicts and possibly even litigation between
the deceased owner's heirs and the surviving owner(s) |
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* Delays in the transition to successor
ownership and in settling the deceased owner's estate |
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* Potential loss of customers, employees, and
creditor confidence that can damage the business-and possibly even force
it's liquidation. |
A formal, written buy-sell agreement among the owners of a business is the
first step in assuring...
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* An orderly and successful transition in
business ownership following an owner's death |
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* A fair price for the business interest and
terms of sale that are reasonable to all parties |
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* A set value for the business interest for
estate tax purposes, which can help to avoid estate settlement delays and
IRS challenges |
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* Confidence in the ongoing vitality of the
business in the eyes of customers, creditors, and employees |
Please contact us for further details, questions, or to set up a buy-sell
agreement for your business. |
