BUSINESS PLANNING

What is Business Planning?

Quite simply, business succession planning is the strategies and techniques for business owners to evaluate and maintain the value of their business for the eventual transition out of ownership due to death, disability, or retirement of the owner, owners, or key employees.

Buy-Sell Agreements

A Buy-Sell agreement is a legally binding contract that states at a triggering event (death, disability, retirement, or withdrawal) of a principal, he or she must sell his or her share of the business to the remaining principals or shareholders.  It further states that the remaining principals or shareholders are obligated to purchase the portion owned by the principal exiting the business from him or her.

Click here for Comparison of Buy-Sell Strategies

 

Business Planning Supporting Material