Planning Error

The concept of Buy-Sell Agreements in close-held businesses has long been a means of preserving value, and continuing a successful enterprise. The benefits of business continuity include those of the employees, customers, suppliers, taxing authorities among others. 

It may be the most ignored planning tool among all those which we as planners use. Without a rudder, a ship will be lost; without transition of control, a business will be lost.

The legal process has been sharpened over may years, and the tools to effectuate a plan of transition are well polished, but gather dust from lack of use. One commentator describes this as the “willing suspension of reality.” Whether your business is a professional practice, service organization, manufacturer or a merchant, there are many, including your family, who deserve this planning. Do something.