Succession
Developing a Buy/Sell Agreement
Once we understand your business structure and goals, we can help you develop a buy/sell agreement. This agreement will outline the conditions under which a co-owner’s share of the business can be sold, the method for valuing this share, and the process for transferring ownership. We can help you consider various scenarios, such as the death, disability, retirement, or voluntary departure of a co-owner, and ensure these are covered in the agreement.
Funding the Buy/Sell Agreement
A key consideration in a buy/sell agreement is how the purchase of a departing co-owner’s share will be funded. Options could include cash reserves, a loan, or insurance policies. We can help you explore these options and choose the one that best suits your business’s needs and circumstances.
Reviewing the Agreement
A buy/sell agreement should be reviewed regularly to ensure it continues to meet the needs of the business and its owners. Madd Life can provide ongoing support, helping you review and update your agreement as your business evolves.
How Madd Life Can Help
Navigating the complexities of succession planning can be challenging. At Madd Life, we can guide you through the process, helping you understand the benefits, risks, and requirements of this investment strategy.
From planning your retirement to managing your finances, our free service takes the stress out of achieving your financial goals. We offer our services Australia wide, so why not reach out to us today. Whether you’re looking to safeguard your future, attain financial stability, or live according to your preferences, we’re here to help. We’d love to hear from you.
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