How a Buyout Agreement Could Save Your Business

Contact Request an Appointment   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? Say your partner, “Joe,” has a wife and four kids, and Joe dies suddenly. The stock that he owns will then be passed onto his wife, who will need every bit of that $2.5 million to take care of the family after … Read More