If you own a family business, you likely invested a considerable amount of blood, sweat, and tears getting your business off the ground. If your investment in the business is now paying off in the form of financial success, it is imperative that you include your business in your estate plan to ensure that the investment you made is not lost. Incorporating a business succession planning component into your comprehensive estate plan goes a long way toward protecting the investment you have made in … [Read more...] about What Is Family and Business Succession Planning?
Buy-Sell Agreement in North Dakota
If you are a small business owner, you already know the financial and emotional commitment it takes to get a small business venture up and running. If your business has reached a point at which it is turning a profit year after year, you likely feel no small amount of pride in what you have accomplished. That profit is also likely important to the financial well-being of you and your family. Consequently, it is imperative that you include your business in your overall estate plan. To encourage … [Read more...] about The Need for Business Succession Planning
What Is a Buy-Sell Agreement from Raymond German The proceeds would be used to purchase the share in the business that was owned by the deceased partner from his or her family. The surviving partners could then go forward running the business as usual. At the same time, the family members could go forward with liquidity that could be distributed among multiple different inheritors. Learn more about Buy-Sell Agreement in this presentation. … [Read more...] about What Is a Buy-Sell Agreement