Buy/Sell Agreement

Buy/Sell Agreement

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Buy/Sell Agreement

Buy/Sell Agreement definition:  A Buy/Sell Agreement is a document that sets forth the price and terms of any buyout of the business and options for financing. When drafted prior to an owner’s death, the agreement allows the family to plan for the business future in the event of a death.  The family limited partnership may own a life insurance policy on key business owners, and the death benefit amount can be used to fund the buy/sell agreement to ensure the business remains in the family.

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