If you are a SME it is likely you will have Key staff upon which your business depends. Perhaps you are an owner operator or a partnership. Think what would happen to your business if you were ill? Would it have an adverse affect on your company? Would you have to draft in outside help? [...]

Alex and Brad, both in their mid-forties, had just celebrated the tenth anniversary of Consulting, Inc., their market consulting business. The next morning, before going to work, Brad suffered a heart attack while jogging and died later that day. Alex suddenly lost his long-time business associate. What’s more, after the estate was settled, he found [...]

Buy-sell agreements exist in many, if not most, closely held businesses having substantial size and/or value. And they exist between corporate joint venture partners in many thousands of enterprises. Buy-sell agreements are agreements by and between the shareholders (or equity partners of whatever legal description) of a privately owned business and, perhaps, the business itself. [...]

One of the most powerful business tools is a buy sell agreement. The proper use of this document can have a direct and dramatic effect on the security of your business. One of the mistakes an ill informed business owner may make is to fail to prepare for the funding of this instrument. Let us [...]

If you own a business, odds are the business represents a sizable portion of your estate. Therefore, planning for the orderly disposition of the business is an important planning consideration. The most basic element of the plan involves the use of a buy-sell agreement. It is astounding how many business owners do not have a [...]

If you’re a business owner you should consider succession planning as part of your overall estate plan with your financial advisor. Succession planning is the process of handing over the responsibilities of running a business to someone else when you are no longer able, or willing, to run it. There are many steps to consider [...]

A partnership is fairly simple to set up. Two or more people get together with the intent of going into business; they get the appropriate licenses and file the necessary papers with the State and you are in business. When the areas of expertise of these people compliment each other the situation is ideal. Although [...]