Buy-Sell Agreements

Do you own a business?

Are you concerned about the continuity of your business if you or one of your partners can no longer continue in the business?

What is a buy-sell agreement?

A Buy-Sell Agreement can be one of the most important steps you take to control the future destiny of your business.  It is an agreement that spells out exactly what will happen when a specified triggering event occurs.  Triggering events such as a business owner’s death or disability often come suddenly and create a crisis that in some instances cannot be overcome.  Proper planning beforehand minimizes the mistakes that may be made and maps out a strategy and process that maximizes the benefits of your years of hard work.  A financially secure retirement and the orderly passage of the business can be planned well in advance and use the value of time to great advantage.

But creating the Buy-Sell document is just the first step.  Unless the funds to implement the Buy-Sell Agreement are available at the precise time they are needed, the Agreement may not be able to be carried out.

Buy-Sell Agreement Funding is a two-step process.  First, an Agreement is designed that is thoughtful and fair and covers every contingency.  Second, steps are taken to make sure that the funds necessary will be there when needed to carry out the Agreement.  Richard S. Bernstein & Associates, Inc. can help with that second step.

Plan Highlights

With proper Buy-Sell Funding Planning you can:

  • Create the resources to purchase the business.
  • Set a fair price for the heirs for the value of a business.  In some instances, you can set the value of the business for estate tax purposes.
  • Create liquidity for the estate of a deceased owner.
  • Minimize the disruption to the business in times of crisis and aid in a smooth continuation of the business.
  • Help to provide for the financial stability of an owner who is disabled and is unable to work.
  • Aid in a smooth transition of owner(s) as they enter their retirement years.
  • Fund the Agreement in an efficient manner.

Let our team put its skills to work for your business.