Legacy by Design LLC.

Cultivating Multigenerational Success in the Agricultural Community

Call Us Toll Free: (877) 523-7411

Beautiful Farm

How can we help?

To discuss primary objectives, review potential next steps, and determine how we may assist you and your family.

How may we help you?  Even if you reach us after hours, please leave a message with your name, phone, and/or email.  We'll be happy to get back with you!

Let us know what's on your mind.  All inquiries are handled with complete confidentiality.

Sign up now to receive free weekly planning tips, tools, and more!


About Us

 •   •   •

For family business owners, our Comprehensive Succession SolutionTM includes planning for:   

Ownership Transitions

Retirement Options

Financial Security

Investment Strategies

Estate Tax Strategies

Buy/Sell Designs

Key Person Strategies

Equitable Distributions

 

Legacy by Design provides hometown service from
coast to coast.

  


Is a Buy/Sell Necessary?

Red barn in gold field.By Kevin Spafford, CFP®
Founder - Legacy by Design, LLC

A buy/sell agreement may be the most important, yet most misunderstood and unappreciated document in the succession planner’s arsenal. In its most basic form, a buy/sell agreement insulates the operation from unwelcome owners. It ensures an opportunity for the business to continue when faced with catastrophe, i.e.: death or disability of an owner. A well-crafted buy/sell agreement may serve as referee for disputes between owners before they reach a breaking point.

It’ll only take a few moments to decide if you need a buy/sell agreement:

1. Is Ownership by Outsiders Undesirable? A common factor in family organizations, many will prefer ownership remain with the family and be restricted to lineal descendants. A buy/sell agreement ensures that ownership interests cannot pass beyond the existing group of owners or beyond their control without prior approval.

2. Is Ownership by Outsiders Subject to Approval? If so, is this provision specified in writing and will your agreement specify how to reach an approval decision? The buy/sell agreement should include written provisions that ensure all new or additional ownership interests must be approved prior to acquisition by an outside/unrelated third-party.  

3. Can Future Ownership Conflicts Be Foreseen? Listing and then working through a list of ‘what ifs’ will help the owner group anticipate and plan for resolutions. An attorney we worked with to draft articles for incorporation for a client family opened the conversation by saying, “Let’s plan the divorce first.” Though a bit startling, given some thought, it makes sense…

A properly designed buy/sell agreement can ensure all owners are awarded a first right of refusal and avoid, “if we’d have only known!”

Terms of Use   /   Privacy Policy

Levitra is a drug that has been recommended for the treatment of erectile dysfunction. In fact, it has been in the market for quite a long period of time now. Whenever you are shopping for the drug, it is very important to note that not all the drug stores can offer quality products. There are various kinds of Order Levitra online drugs in the market, thus, you should take time to find the right one for you.

some test here