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Buy/Sell agreements

If you and partners own a shared company, it’s likely you’ve heard these questions before: Do you want to be in business with a partner’s ex-spouse? Do you want to be in business with a bank after your partner’s bankruptcy? Do you want to be dismantling your business because of a feud between two partners? The answers are undoubtedly NO, but it’s likely you haven’t put pen to paper and had an attorney prepare a Buy/Sell Agreement for just these scenarios.
The time to do it is right now.

The Law Office of Finely Stetson encourages partners to prepare a Buy/Sell Agreement just as soon as the shared business begins. We can help you navigate these issues:

1. Valuation

We’d argue this is the most important topic to be addressed in your business succession plan. Many business owners would prefer a specific formula for determining value. For instance, “four times annual earnings.” But some industry sectors need specific valuation plans with professional valuation experts. We can expertly guide you no matter what type of valuation your business needs.

2. Ground Rules

These would spell out the valuation techniques addressed above, but they would also codify specific clauses the partners want included. For example, sometimes business succession plans only want certain family members to be able to be named as new business partners. Our team will help you negotiate and actualize some of these important ground rules.

3. Tax Implications

Your business succession plan should be mindful of the tax implications that arise upon death of a partner or restructuring the company. Our attorneys will advise you on the different tax consequences of a “redemption” agreement or “cross-purchase” agreement. We will utilize careful planning to give owners and their heirs the liquidity needed to pay estate taxes or other expenses.

The Law Office of Finley Stetson will work with your team to craft a business succession plan that will maintain value, provide strong exit strategies and maximize goodwill that make partnerships thrive.

schedule a visit with us to strategize a game plan for all of your Buy/Sell Agreement needs.


Areas Of Practice

Button: Probate and Trusts
Button: Probate and Trusts

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The Law Office of Finley Stetson is standing by to take your call. Our team is dedicated to providing you quality legal services with a personalized approach. We look forward to assisting you.