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Why A Buy-Sell Agreement Is Vital For Your Business
A buy-sell agreement is a legally binding document that sets out what must happen to a business if one or more of the owners is no longer involved. It is crucial for businesses as it protects both shareholders and the business itself in the event of a partner's departure. A buy-sell agreement provides many benefits, including maintaining business continuity, minimizing disputes between remaining co-owners and the family of the departing owner, decreasing stress and uncertainty for all business owners, and protecting business assets and liquidity with a solid financial and tax plan.
https://liveyourbiglife.ca/wp-content/uploads/2021/07/insurancePlanningforBusinessOwnersFI.jpg 810 1440 Live Your Big Life https://liveyourbiglife.ca/wp-content/uploads/2020/07/websiteLogo2-300x81.jpg Live Your Big Life2021-07-01 07:00:002021-07-01 07:06:18Insurance Planning for Business Owners
Insurance Planning for Business Owners
For business owners, making sure your business is financially protected can be overwhelming. Business owners face a unique set of challenges when it comes to managing risk. Insurance can play an important role.
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Importance of a Buy-Sell Agreement
Working as a partnership between 2 or more individuals is never an easy task, and the situation only gets more complicated when one or more of them exits the business. Protecting not only the business, but your personal interests, as well as your family’s future are very important objectives for any business owner, and should not be overlooked.