The Most Important Document You May Ever Sign
Apr 27, 2010
From Legacy Moment eNewsletter (April 23, 2010)
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The unsung hero of many a successful generational transition is the buy-sell agreement. It is one of the most important documents in the succession planning arsenal. It protects the operation from the whims of inactive owners and off-farm interests. A well-written and properly executed agreement can ensure the operation remains in the family and is protected from death, disability, divorce and dissolution.
A formal agreement is based on multiple triggering events, and provisions of a buy/sell agreement may include: valuation, applicable discounts, terms, conditions and restrictions.
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