As a partner in a business, the most critical, yet sometimes neglected area of importance, is ensuring your business’ continuity after your partner is no longer able to be involved. A buy-sell agreement is a must for every partnership, as it establishes the responsibilities of each respective partner, and the general rules to be followed upon the death of a partner.
As part of a buy-sell agreement engagement, Roth&Co’s Advisory Services division will assist you in making sure that the agreement is structured to meet its intended goals.
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Phases
- Gathering and Reviewing Information:
- Review Company Tax Returns
- Review Company Financial Statements
- Review Corporate Records and Existing Agreements
- Determining and Establishing Goals
- Understanding the Goals of Parties Involved
- Establishing the Key Terms of the Agreement
- Finalize the Agreement
- Assist your legal team with ensuring that the agreement drafted correctly represents your wishes.
- Review life insurance policies
- Review tax ramifications of the agreement
- Monitoring Plan and Client Follow-Up
- Ensure Proper Implementation of the agreement
- Evaluate Necessary Changes to Existing Plan
There are many financial implications to consider when structuring a buy-sell agreement. The first step to creating an effective agreement is to gain absolute clarity of your current financial picture.
During this phase we will:
Your goals provide the framework when drafting the agreement and how best to fund it. Determining those goals at the outset will help minimize any conflict, allowing for a much smoother process.
This phase includes:
This phase entails working in close concert with your life insurance agent and legal team to finalize funding and legal considerations.
During this phase, we will:
There are many unpredictable economic and/or legislative factors that can compromise the effectiveness of an agreement. We will review your plan at regular intervals to ensure its value and relevance.
During this phase, we will:
