How a Buyout Agreement Could Save Your Business

If you own a business with a partner and you have not planned for a catastrophe, then you could end up creating a huge mess down the road if something should happen. For example, if you own a company that’s worth $5 million and you and your business partner both own 50% of the company, then both of you would have $2.5 million in your estate. What happens if your business partner dies?