08/25/2021
For privately-owned companies, there are two basic succession or buy-sell strategies; an Entity Plan and a Cross-Purchase Plan. Either approach requires a formal buy-sell agreement between the business owners. The company's business attorney should be consulted before a decision is made so that all of the various issues related to each plan can be addressed. The agreement establishes the valuation method and payment terms to be used so that decisions need not be made during a crisis. https://www.hebetsco.com/services/business-valuation/