Business Succession Planning Summary

Think Legal, P.C. provides businesses with a single resource to address the wide variety of business and legal concerns present at every stage of business operation. We help clients create, grow, acquire, manage, and protect their assets. We provide our clients with a well-rounded and cost-effective approach to business succession planning.

Why Do Business Succession Planning?

To prevent insiders who retire or are no longer active in the business from continuing to hold shares; to provide continuing ownership and control in the remaining shareholders; to prevent shareholders from selling to other shareholders to disturb existing control/financial allocations; to provide an assured market for the shares (and thus, liquidity) on a shareholder’s death, retirement or withdrawal from the corporation; and to establish the shares’ value for federal estate tax and gift tax purposes.

What Is A Buy/Sell Agreement?

Buy-Sell Agreements are between the shareholders (or equity partners of whatever legal description) of a privately-owned business and the business itself that establishes the mechanism for the purchase of stock following the death (or other adverse changes to) of one owner. Corporate joint ventures also demonstrate the value for break-ups or, for circumstances calling for one corporate venture partner to buy out the other partner.

Buy-Sell Agreements Address

  • Death

  • Divorce

  • Disability

  • Disagreement

  • Disolution

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