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BUY-SELL AGREEMENTS IN CALIFORNIA

Serving Clients Throughout the Conejo Valley Area

Buy-sell agreements or buyout agreements, are agreements between co-owners of a business.  These agreements are applicable when one of the owners dies, becomes disabled or departs the business. 

The agreements are usually between partners of a partnership, shareholders of a corporation or members of a limited liability company.  They are typically used in smaller closely held businesses.

The inclusion of buy-sell agreement as part of estate planning for a business owner is important.  As the business often is the most valuable asset a person owns, it is important to make accommodations for the funding of a buy-out of the deceased owner’s interest by the remaining business owners. This is usually accomplished by life insurance or other funding methods. 

A buy-sell agreement is a complex business contract requiring an experienced business or estate planning attorney.  The failure to obtain a buy-sell agreement or a poorly drafted one can cause huge problems upon the death of one of the business owners or a break up of the business owners. 

Contact us to set up an appointment with our experienced attorney.   

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