Podcasts about buy sell agreement

If you're going to buy out your partner, then you'll need a buy/sell agreement.  But what is a buy/sell agreement, and what are the “must have" provisions to include in that agreement?  You have questions?  I've got answers.  Listen up.   Music: "Werq" Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Matt Thiry joins Karen Rands on the Compassionate Capitalist Show to discuss the legal steps Founders and Investors can take to protect their interest in the event of an unexpected change of status in the company.  Nobody enters into a marriage expecting it to fail. Neither do they start a business or invest in a business expecting it to fail.  Although it may seem 'negative' to enter into a pre-nump before getting married, getting these legal docs and contracts in place before your business gets complicated by success is a wise move. Contract law isn't exciting but can be the source of fireworks when suddenly a business finds itself in the situation with a founder or key operational person suddenly exiting the company, either over a disagreement or catastrophic event. Listen to learn about the tips and tools entrepreneurs and investors use to protect their business interests and mitigate the risk of trigger events that can lead to business failures. As a business lawyer, found at http://mattthirylaw.com, Matt Thiry provides advice to existing businesses and start-ups regarding issues including risk management, covenants, business formation, and other day-to-day matters encountered by businesses. He also routinely assists clients by reviewing, negotiating and drafting contracts keeping business objectives and with the goal to avoid the disruptions in business due to legal challenges and lawsuits. Matt is also the host of THE BUILDING BUSINESS PODCAST. Karen Rands is a top podcaster and speaker focused on creating wealth through building and investing in successful entrepreneur endeavors.  She wrote the best selling primer for Angel Investors:  Inside Secrets to Angel Investing.  To learn more about the programs and services that Karen and her team offer to entrepreneurs and investors, visit http://karenrands.co

In this episode, Josh and Jay break down 7 key elements to assessing your risk management strategy and how it ties into our overall financial plan. Tune in to hear tips on how to develop a “roadmap” for protecting what you own, what you make, and what you plan on leaving behind to the next generation. Topics covered include Property, Intent, Income Protection, Retirement Plan, Health Care, Business Planning and Legacy. Key Takeaways: - Property: Start with making sure your home has appropriate insurance. Other real property items to protect include boats, jewelry, art, coins or valuables. Your plan should detail the location of these valuables. Also, does your situation require general liability / umbrella protection? Lastly, have you developed a protection strategy for you identity? - Intent: If something happens to you, does your protection plan clearly lay out your intent? When is the last time your will was updated? Other items to address include: power of attorney documents and medical directives. Lastly, are your beneficiaries up to date, and have they received communication about your plan? - Income: Have you protected your ability to provide financially in the event of pre-mature death or disability? What does your debt situation look like, and is there a plan to address it? Other items to factor in include having to care for a special needs child or aging parent. - Retirement Plan: Do you have adequate savings and a fully funded emergency account? Do you have a 401k or IRA to tap into when you retire? Are there any other assets to utilize? How does social security fit into your plan, including the best time to claim social security? Lastly, have you reviewed your tax situation and how it impacts your retirement plan? - Health Care: Assuming you have health insurance, are there any significant gaps that need to be addressed? Do you have identified what assets will be used to pay for an extended health care event? Other factors to consider include family health history, and if you have a preference for being cared for at home versus in a facility. - Business Planning: What happens to the business when you move on? Do you have a succession plan in place? When is the last time you evaluated the value of business or updated your Buy – Sell Agreement? Lastly, does your plan accommodate the key people and partners in your business? - Legacy: You planned well enough that you will be leaving something of value to the next generation. Have you evaluated the tax implications of this plan, including how your taxable and tax-deferred assets factor in. Can beneficiaries access your stuff, including anything needing a password? Lastly, if you have multiple heirs and/or children, is your goal estate equalization? Or do you desire to pass assets to special needs trust or charity?   Action Items: If you’re like most people, you addressed some of the 7 steps, but not all. Prioritize those steps most important to you, then reach out for professional help if needed. You can reach out to Gulf Coast Financial Advisors to set up a no-cost, no-obligation discussion about your particular needs by call 251-327-2124 or emailing jnull@gulfcoastfa.com.   Show Links: https://gulfcoastfa.com/ https://pciawealth.com/ https://qualifiedplanadvisors.com/ https://fitrusts.com/ https://everydollarcounts.libsyn.com/ http://jaystubbs.com/ https://www.firstprotective.com/ https://www.deepfriedstudios.com/ https://www.slothracerband.com/ Resources: Gulf Coast Financial Advisors Prime Capital Investment Advisors Qualified Plan Advisors Financial Fitness for Life First Protective Disclosure: Advisory services offered through Prime Capital Investment Advisors, LLC (“PCIA”) a federally registered investment adviser. PCIA: 6201 College Blvd., 7th Floor, Overland Park, KS 66211. PCIA doing business as Prime Capital Wealth Management (“PCWM”) and Qualified Plan Advisors (“QPA”). PCIA and Gulf Coast Financial Advisors are not affiliated. Gulf Coast Financial Advisors (GCFA) , Prime Capital Investment Advisors (PCIA), Prime Capital Wealth Management (PCWM) and Qualified Plan Advisors (QPA) do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. The information provided herein is not a complete analysis of every material fact regarding any strategy; it is intended only to provide insight into the opinions of the author. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

Do you have a plan to protect your agency and team in the event of illness, injury, or death?? What would you do if your partner died? What if you were hurt or sick and unable to work? How much of your agency is dependent upon you for the day-to-day operations? As agency owners, we often think about our exit plan, but it's also important to plan for the unexpected. In today's episode, we'll cover: 2 things to protect your agency from the unexpected. The key to protecting your agency's acquisition. Today I sat down for an interesting chat with Eric Meyers, former CEO of a $40 million digital marketing agency. Back then, Eric found himself trying to navigate a pending merger as well as a transfer of ownership after the sudden death of his agency's founder. He's here to talk about what he learned through the process and what you can do to protect your agency from the unexpected. 2 Things to Protect Your Agency from the Unexpected Take a minute to think about what your agency's future looks like. Where do you want to be in 5, 10, or 20 years? Is that future still possible in the event of a sudden illness or injury of an agency leader? What about the death of your business partner? These things aren't fun to think about, but the truth is when you own a business you have to consider and plan for the unexpected. When Eric took the role of CEO at an agency, he never expected the founder would be involved in a tragic accident after only three months on the job, but that's what happened. As a result, the owner's family took control of the agency. From there, a pending merger fell apart and the agency went up for sale within six months. So how can you protect your agency from unforeseen changes? Create a Buy/Sell Agreement. If you have a partner, a solid Buy/Sell Agreement is critical. It protects both partners' interests and keeps things simple during times of uncertainty. You signed up to work with your business partner, not his or her family. A Buy/Sell Agreement helps ensure you have the funds to buy out your partner's family so you retain control over your agency. Purchase disability insurance. Would your agency survive if you had to take a sudden leave of absence due to an injury? Would you be able to pay your own bills? This one may seem obvious but it's often overlooked. It's a low-cost way to protect your business and your family. The Key to Protecting Your Agency's Acquisition One of the major problems at Eric's agency is the acquisition fell through at the last minute. This could have been prevented by a rock-solid Letter of Intent. A Letter of Intent helps all parties understand what they are getting out of the purchase of the agency. Eric says you shouldn't assume you can do it on your own. You need someone guiding the process and helping you navigate the unknown. It's even a good idea to make sure you have legal representation to look over paperwork and contracts. Another way to protect yourself is to set up an escrow account with the Letter of Intent. The amount in escrow depends on the amount of the sale. Then, if everything before the Letter of Intent turns out to be true and one of the parties backs out, the other party receives financial compensation. Don't forget, an agency sale is not the time to slow down. You need to keep your foot on the gas. You need to excel servicing existing clients and continue to fill your pipeline. That way, in the event the sale falls through, your agency is in a good position to thrive. Nobody likes to think about the worst-case scenario, but as a business owner, you have no choice. When you take the time to make sure you have the necessary precautions in place, you're investing in your agency's future. Looking for a Payroll and HR Solution for your Agency? Payroll and benefits are hard. Especially when you're a small business. Gusto is making payroll, benefits, and HR easy for small businesses. You no longer have to be a big company to get great technology, great benefits, and great service to take care of your team. For a limited time, Gusto is offering a deal to Smart Agency Master Class listeners. Check out Gusto.com/agency for 3-months FREE once you run your first payroll with them.

John talks with attorney Jeff Love, who is a Partner at Gibbs Gidden law firm in Los Angeles, about the importance of a Buy-Sell agreement in a partnership or small business. Jeff talks about some of the unforeseen risks that can come up when a partnership doesn't have a Buy-Sell agreement in place. And he also talks about what all is included in the drafting process of the agreement and how you can get started today. For more information on Jeff Love, be sure to check out https://www.gibbsgiden.com/.  See omnystudio.com/policies/listener for privacy information.

Be prepared for business partners that decide to jump ship. The post Why Have a Buy-Sell Agreement For Your Business first appeared on Shahrestani Law.

Our Two Cents Podcast Episode 012 https://ourtwocentspodcast.com Tip of the Week: Insurance Specialist, Troy Burden with The Lynn Company shares tips on using Life Insurance to fund a buy sell agreement www.lynncompany.com/contact/troy_burden Interview: Chad Hathaway, Founder/CEO of Hathaway LLC. talks about the state of the oil industry and his entrepreneurial journey in the oil business www.hathawayllc.com

Z. Christopher Mercer, of Mercer Capital, discusses the importance of having a thorough Buy-Sell Agreement in place to protect what you work so hard to build. Of particular note is Chris' Blog, and we recommend you check out www.ChrisMercer.net ExitCoachRadio.com - Great Advice from Great Advisors! Listen to Daily interviews and tell your Business Owner friends!

On this episode of Everyday M&A, we hear from Eric Boyce, a business valuation expert who also helps business owners prepare financially for life after selling their business. On this episode, Eric shares with us: What is exit planning What industries is exit planning really important for When should you do exit planning The non-financial aspects of a business drastically affect valuation Ways that key customers, employees, and suppliers affect a business’ valuation What a Buy Sell Agreement is and why every business owner should have one The most common reason why valuations get discounted Thorsen Legal, a corporate law firm in Texas and California, is a team of attorneys specializing in business, real estate, employment and labor law, entertainment law, and trademark law. Contact them today if you're in need of a business lawyer.

Why a minority and operating partner wouldn’t accept the terms of a sale that the majority partner proposed. How four companies that operating as one were sold separately and the challenges of doing so. The importance of a great management team. Michael VannThe Vann GroupRockland, MassachussetsVisit WebsiteSend E-mail The post When There is No Buy/Sell Agreement in Place One Partner Can Hold a Gun to the Other Partner’s Head appeared first on Business Exit Stories.

https://www.youtube.com/watch?v=-2OYfn9u2g0 Locking in your exit strategy with a buy-sell agreement can create great certainty.  The reason is that it will accommodate the continuity of your company in the broadest range of circumstances. Planning for your continuation when you or your co-owners exit is critical.  It could mean the difference between ownership transition becoming the capstone of your success or a slippery slope to financial demise. Table of contentsBusiness Prenup: Ownership and Control When a Co-Owner ExitsWhat If You Don't Have an Exit Strategy?Tools and Ideas to Plan Your Exit StrategyWhere A Buy-Sell Agreement Fits into the Cash Flow SystemWhy Should I Plan for How I'll Exit?OptionsCertainty and Peace of MindFair BargainingWhat Circumstances Should I Consider?What Are Buy-Sell Agreements?Do I Need a Buy-Sell Agreement?What Are the Options to Fund Buy-Sell Agreements?CashSinking FundA LoanInstallment PaymentsLife InsuranceHow Can A Life Insurance Policy Solve Buy-Sell Funding Problems?Stock RedemptionCross-PurchaseLLC Buy-SellBuy-Sell Agreements: How to Get StartedMultitasking Life Insurance to Indemnify Multiple Threats at OnceAdditional ConsiderationsBuy-Sell Agreements and Infinite BankingGetting Started with Buy-Sell Agreements Business Prenup: Ownership and Control When a Co-Owner Exits If you're in business with others, you may wonder what would happen if something happened to them, or you. What about when or if one of you wants to leave, retires, becomes disabled or physically or mentally unable to continue, or passes away unexpectedly?  We've talked about how you can compensate for losing key employees or owners with Key Man Insurance, but what about the ownership interests? Maybe you're the sole business owner at this point, but you hope to sell someday.  If your company is built on your reputation, knowledge, and expertise, would a strategic handoff be better than an abrupt ownership change?  Perhaps it would be better to hire well as a transition strategy.  You might be able to transfer ownership slowly over several years, giving your client base time to build a relationship with the new guy. What If You Don't Have an Exit Strategy? If you share the ownership of a company, your livelihood rests on its success.  How do you make sure your family members prosper, no matter what happens to you or your co-owners? Contingency planning is one of those things that so many people put off because it's not an immediate concern.  According to LIMRA, in 2015, 75% of US small businesses have not had their market value assessed by a business valuation expert, and 64% of US small companies don't have a business continuation plan. Planning for how you sell or transition can mean the difference between peace of mind or turmoil.  When your business operations continue after losing an owner without missing a beat, you and your family will continue experiencing the financial rewards of everything you've built.  If the company struggles and suffers, it could mean the inability to fulfill contracts, unhappy clients, and dried up revenue.  And this could cause financial strife for you and your family.  It's worth thinking this through and planning for contingencies to fully experience the fruit of your labor, no matter when or how you or your business partners exit. Tools and Ideas to Plan Your Exit Strategy In today's show, we discuss the buy-sell agreement – what it is, what it does, and how it works.  We'll answer: Why should I plan for how I'll exit my business? Planning for how you'll exit your business allows for the orderly transfer of the ownership interest when a business partner leaves the company. Why should I plan for how I'll exit my business? Planning for how you'll exit your business allows for the orderly transfer of the ownership interest when a business partner leaves the company. What circumstances should I consider in setting up a buy-sell a...

The purpose of a buy-sell agreement is to facilitate a change in ownership upon the occurrence of certain events. Whether these events are voluntary or involuntary the main objectives of a buy-sell agreement are to make sure remaining owners retain control and departing owners or their families are reasonably compensated for relinquishing their financial interest in the Company.

Join Mark and Mat for their regular tax and legal tips and an indepth discussion about 'Business Continuation Plans'.  Why you need one and How to implement them. When are they binding and how do you plan for the succession of your business when you sell or pass away. Learn more at www.refreshyourwealth.com.

Join Mark and Mat for their regular tax and legal tips and an indepth discussion about 'Business Continuation Plans'.  Why you need one and How to implement them. When are they binding and how do you plan for the succession of your business when you sell or pass away. Learn more at www.refreshyourwealth.com.

Corey Evaldi grew up in Buffalo, NY (Lackawanna).  His dad had his own auto repair shop before Corey was even born.  In 1988, he built the shop that is still in business today. As a kid, Corey grew up in the house next door to the family garage. The older he turned, the more interested he became in the shop and cars in general.  By the age of 12, he began working for his dad. The 1st week he worked there, he would come in whenever he felt like. On Friday his pay was less than half of what was agreed upon and his dad simply said: “you didn’t come in on time”.  Never was he late again. He started to enjoy the electronics and troubleshooting of vehicles really young.  During his junior and senior year of high school, He went to Potter Road Career and Technical Center and took the Automotive programs. His senior year had an automotive competition at ECC, local community college. He and his partner won 1st place in the competition and were awarded full-tuition scholarships to various schools.  They both ended up choosing Ohio Technical College.  Job hunting landed him at a gas station attendant position at BP. After 6 months or so, his manager told him he knew someone that had a garage that was looking for some help. That brought Corey to Olmsted Auto Care. From 2006 to 2014, he worked his way up from lube tech, to the service tech, to lead diagnostic tech.  At that point, he was looking for his next step. He left Olmsted Auto Care to build a relationship with another shop owner who was looking to sell his business in the next few years. After 6 months or so the partnership at Olmsted Auto Care was no more and the partner left with the business was looking to retire. His feelings for Olmsted Auto Care were still pretty strong so he agreed with the owner to return as shop manager until a Buy-Sell Agreement would be done. In 2015 he returned and was overwhelmed with the responsibilities of running a shop. he was a technician, service writer, accountant, clean up person, the fireman that extinguished fires all over. Beginning of 2016, he and his wife expected their 1st child. He could not keep doing what he was doing. He produced 40% of the billed hours out of 4 techs. He looked for help. Found a coaching firm that really showed him what a business owner looks like. After implementing the changes, there was extreme pushback from the existing crew.  After standing firm on most things, change over was inevitable. Most of Corey’s employees he has now had only been with him 3 years. At this point, he still needed more help with the business. Dave Justice from RSOT knew his now business partner and talked with us on joining RSOT. They agreed and was the best decision yet.  He learned how to behave like a professional; helping him become a better leader every day. They implemented different marketing strategies, SOPs, learned how to measure and manage KPIs.  Now Corey has a great team that is behind him and the decision he brings to the table. They are currently looking to add another bay. Eventually, Corey would like to grow to multiple locations. Chris Machado Grew up in the dairy industry 1987 could not weather. Bellyup. Started buying and selling hay. After college. Commodity sales. Diesel trucks. Been around diesel trucks. Always used an outside shop. He came to work in 2005 Other ways to maintain the fleet. He had an idea to build a business out of this. To prove he started with his dads fleet. 2012 Started developing Circle M Truck and Automotive Not a tech by trade. Selling his business. 2016 Built up to 7 techs The 5-year goal was to have 10 techs Had to learn how to run the business better Had to understand production and he reaches out to his NAPA people Measure and manage his labor. LPM. Labor Profit Management He implemented in June 2016 Within 2 weeks he had a grip. Peace of mind. He started to tweak the...

44% of self-employed people are over the age of 50 (this is growing) and small to medium sized businesses employ the vast majority of Kiwi's. These two facts alone state something that's absolutely critical - To protect the wealth of almost every New Zealander, we need to protect small to medium sized businesses. Given the age of the typical business owner, there's also a need to efficiently facilitate the transfer of these businesses to the next generation. There are many individuals and businesses, myself included, that work with business owners to facilitate this transfer of ownership - I do it via my business by assisting shareholders in figuring out how to transfer ownership to key people in the business under distressing circumstances using specialized insurance policies. Aaron Toresen has a team (the largest in the world actually!) that works with business owners to help them sell their enterprise for the right price, at the right time. As the Managing Director of LINK Aaron has grown what was a boutique NZ business brokerage to an international network, with over 500 brokers in 5 countries. LINK are the largest business brokerage in the world and still growing rapidly. Recently Link raised capital via one of our other guests on the show - Snowball Effect, which is likely to amplify and quicken their expansion even further - as evidenced by their entry into the US market - the head office in Los Angeles is the largest business brokerage in California. Outside of business, Aaron loves tennis, martial arts, horse riding and of course, his family. Check out LINK NZ Everyday Investor Podcast: https://www.facebook.com/NZ-Everyday-Investor-338969376637717/ https://NZEverydayInvestor.com We're keeping it real on NZ Everyday investor - we're not journalists and this isn't an interview - it's a discussion, hosted by someone who's genuinely into this sort of thing. If you like what we do, remember to subscribe to our show and share it with others - we'd really appreciate it! You know what else would be make us rather pleased with ourselves? Write a review on facebook too! Where to find Darcy Ungaro: Ungaro &Co (registered) financial advisers https://www.ungaro.co.nz Facebook: https://www.facebook.com/UFinServ/?ref=bookmarks Instagram: https://www.instagram.com/ungaro.co.nz/

In this podcast, we interview Attorney Larry Bell on the importance of a well-drafted Buy-Sell Agreement.Special thanks to Podcast Village: https://podcastvillage.com/

1. Intro – how we jumped in feet first A. All the legal stuff – Tonya’s boxer advise about the coaches in your corner i. Business License ii. S Corp filing iii. Buy Sell Agreement iv. Life Insurance v. Liability and Errors & Omissions vi. Bookkeeper and CPA B. Our office i. At home ii. Turning lemons into lemonade during the recession – moving to Acworth then Kennesaw iii. Hiring our first sub contractor (now employee) and a slew of interns 2. Software A. Excel and QB to Studio Webware 3.  Setting up our office A. Efficiency of operations  - our client binders and accounting files – neat an orderly B. Our office set up C. Meeting with clients in a professional atmosphere – our conference room 4. Building relationships A. Manufacturers B. Artisans C. Operations – receiving, delivery, installers, workrooms D. Most of all -our clients! 5. Our client process A. Qualifying – Amy B. Consultation C. Design Proposal (aka the contract) D. Getting to work E. Preso Day F. Install Day 6. Our commitment to social media A. Blogging B. FB, Instagram, Twitter, Pinterest and how they all serve a different purpose and audience C. Our PODCAST!

Z. Christopher Mercer, of Mercer Capital, discusses how he rarely sees a Buy-Sell Agreement that does not have one or more flaws and what they usually are. He notes that everything that you do can vanish if the Buy-Sell has a valuation error. And he talks about some of the fixes, including offering two books and a checklist that Business Owners and Advisors can use to address their Agreement. Of particular note is Chris' Blog, and we recommend you check out www.ChrisMercer.net Show host Bill Black is a Certified Exit Planner who helps Business Owners plan for their future  Succession, Exit and Transition. Schedule a complimentary call to discuss your exit planning questions at www.BBschedule.com or visit www.Exit-Retirement.com      

В этом выпуске вы узнаете: - Group RRSP vs DPSP (Deferred Profit Sharing Plan) - Lifetime Capital Gains Exemption - Capital Dividend Account - Buy-sell Agreement; Segregated Funds - Все, что связано с разводом (divorce) MoneyInside.ca – ваш подкаст о деньгах, экономике и личных финансах. Оставить свои комментарии или задать вопросы вы всегда можете под этим выпуском или в группе "Финансы с Артемом" в Facebook - https://www.facebook.com/groups/CanFinanceInRussian/ Книга “Inside Banking” - все вопросы и ответы о канадских финансах простым языком. Купить Спасибо, что слушаете MoneyInside. Успехов в деньгах!

On this episode of Got Family: Making the Right Decision Working for a Family Business What is a Buy/Sell Agreement