If you're like many entrepreneurs, being in business means working with one or more co-owners. But what will happen to your company if a co-owner:
- wants out of the business?
- wants to retire?
- goes through personal bankruptcy?
- wants to sell his shares to someone else?
- goes through a divorce?
- passes away?
To make sure there's a smooth transition following someone's departure, it's essential that you create a sort of "premarital agreement" for your business with a buy-sell agreement. This legal document clarifies when co-owners can sell their interest, the circumstances when someone must sell, who can buy into the business and what price will be paid.
Buy-Sell Agreement Handbook walks you through creating your own buy-sell agreement, which is included on CD-ROM and as a tear-out. It provides all the tax and legal information you need at every step.
The 2nd edition, completely revised and updated, covers the latest estate-tax changes and how your agreement can affect your estate taxes.