...need plan for the continuation and control of their business. Without proper planning, death, disability or retirement can create chaos for all parties involved. However, a well-written buy-sell agreement, paired with a life insurance policy, can help make the transition painless.

The decision to select a cross purchase or entity purchase agreement depends largely on the collective goals of the owners and the tax considerations inherent in the structure of the entity. These considerations should be explored early in the sales process.

Each plan has its advantages, but in many cases either plan will deliver desired results. Often, the psychological comfort level of the business owners tips the...

NOTE: All illustrations and photos have been removed from this article.



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