A successful company with multiple owners should decide what happens to an ownership interest before a triggering event occurs. A buy-sell agreement turns that uncertainty into an agreed process.
The agreement can address death, disability, retirement, voluntary withdrawal, dismissal, and divorce. Life or disability insurance may be used to help fund a purchase when an owner dies or becomes disabled.
Mackintosh Law works with owners and their advisors to define who may own the company, when a purchase is required or permitted, how the interest will be valued, and the terms of payment.
Worth knowing
The best time to agree on these terms is while the owners are aligned and no one is yet a buyer or seller.