A Buy-Sell Agreement is an agreement between co-owners of a business that details what is to occur upon the death or disability of the owners.
The Buy-Sell Agreement usually is set up so that the surviving owner(s) of the business will purchase the decreased or withdrawing owner’s percentage. These agreements are often funded with life and/or disability insurance.
The Buy-Sell Agreement usually is set up so that the surviving owner(s) of the business will purchase the decreased or withdrawing owner’s percentage. These agreements are often funded with life and/or disability insurance.