What is a Buy-Sell Agreement

For many business owners, the business is the major source of family income; is a personal investment vehicle, and is a major portion of the owner’s estate. Without proper planning by the owners, financial hardships can result for the remaining owners as well as the family of a disabled or deceased owner.
A properly structured Buy-Sell Agreement is one of the most powerful tools for managing the transition of a company’s ownership. It allows the business owner(s) to plan and structure the business prior to a transition event in order to ensure business continuity for the surviving owners and financial security for the departing/deceased/disabled owner’s family and heirs.