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Succession Planning

Buy/Sell Agreement aka Succession Planning

A buy/sell agreement, also known as a business continuation agreement or a buyout agreement, is a legally binding contract between co-owners of a business. It stipulates how a co-owner’s share of the business may be reassigned if that co-owner passes away or otherwise leaves the business. It’s a crucial part of succession planning, ensuring the smooth transition of ownership and control of the business.

At Madd Life, we understand the importance of succession planning and can guide you through the process of setting up a buy/sell agreement.

Talk to Our Team

Understanding Your Business
Structure and Goals

The first step in setting up a buy/sell agreement is understanding your business structure and goals. Our financial advisors can help you assess your current business structure, understand your long-term business goals, and identify potential risks or challenges to these goals.

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.

Talk to Our Team

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.

Succession Planning

Buy/Sell Agreement aka Succession Planning

At Madd Life, we understand the importance of succession planning and can guide you through the process of setting up a buy/sell agreement.

Understanding Your Business Structure and Goals

Developing a Buy/Sell Agreement

Funding the Buy/Sell Agreement

Reviewing the Agreement

How Madd Life Can Help

Madd Services

Madd Support

Madd HQ

Understanding Your Business
Structure and Goals