https://kellysmithgroup.ca/wp-content/uploads/2023/05/Why-a-buy-sell-agreement-is-vital.png 250 500 Kelly Smith Group https://kellysmithgroup.ca/wp-content/uploads/2020/02/kellyHorizontal.jpg Kelly Smith Group2023-05-01 06:00:002023-05-01 06:10:59Why A Buy-Sell Agreement Is Vital For Your Business
Why A Buy-Sell Agreement Is Vital For Your Business
A buy-sell agreement is a legally binding document that sets out what must happen to a business if one or more of the owners is no longer involved. It is crucial for businesses as it protects both shareholders and the business itself in the event of a partner's departure. A buy-sell agreement provides many benefits, including maintaining business continuity, minimizing disputes between remaining co-owners and the family of the departing owner, decreasing stress and uncertainty for all business owners, and protecting business assets and liquidity with a solid financial and tax plan.