Taking a second look at your buy-sell agreement

Description

Abstract: Should an owner leave the company, conflicts can occur. For this reason, every business with multiple owners should have a buy-sell agreement in place. But that’s not enough; the agreement also needs to be kept up to date. This article describes the general aim of a buy-sell agreement and the events that can trigger it. It then discusses the different types of agreements and how to fund them. A sidebar looks at the tax quandaries of buy-sell agreements for C corporations.