Buy-Sell Agreements for Closely Held and Family Business Owners

Buy-sell agreements are far more important legal and business documents than most business owners believe.  If triggered, your buy-sell agreement will determine the return you might receive for your life's work and largest single investment.  The sale of your business interest is too important to leave to chance.
Buy-Sell Agreements for Closely Held and Family Business Owners will be your guide for understanding what your agreement says from business and valuation perspectives.  The book includes a comprehensive and yet understandable roadmap for business owners and their advisers.   It discusses the three major types of buy-sell agreements -- fixed price, formula and valuation process agreements. The author makes a convincing recommendation based on more than 30 years working with business owners and buy-sell agreements.  The best valuation mechanism for most successful closely held and family businesses is one calling for a single appraiser that is selected by the parties now (i.e., before any trigger event), and who prepares an appraisal to set the price for the buy-sell agreement.  Then, the appraiser will provide an annual reappraisal to reset the price every year (or two at most).You will want to share this book with your fellow owners, your accountant, your attorney and your financial planner.  Together you can insure that your buy-sell agreement will not be a ticking time bomb, but that it will provide a reasonable resolution -- in terms of pricing, terms and process -- if and when it is triggered.