Buy/Sell Agreement

Read our article in Construction Executive on
Could Your Business Survive Without You?

When an owner dies, the disposition of his or her interest depends upon several key factors:

Does the deceased owner want his/her interest sold or retained by the heirs?
Will death costs "force" the sale of the business?
Can the remaining owners afford to buy the deceased owners interest?
Can the surviving owners operate without each other

In order to guarantee a buyer for the interest in a business (particularly a minority interest which may be of very little value to one's heirs), consideration should be given to a lifetime agreement among the business owners as to how to dispose of the business.