If you are the owners of a business, LLC, hold S-Corp stock shares, or Partnership Interests, we are able to offer planning and services to assist in business succession and possible Buy/Sell Agreements relating to these types of businesses.
Buy/Sell Agreements are used by owners of organizations to ensure that after a death, there is a prearranged agreement in place with the other owners on how the decedent’s interest will be treated. Buy/Sell agreements can take many forms and there is not a requirement as to how such agreements are structured. However, as in most cases, proper planning is needed to ensure the best possible exit strategy for both the surviving owners as well as the decedent’s heirs.
Planning may involve prearranged agreements for a specific price of each share, requiring the purchase of a life insurance policy on each owner, stock for cash agreements, who can and cannot retain the interests and providing a timeframe for any transfers that must be made. We have the experience to assist you in determining the proper structure to provide for a minimum of income tax and estate tax, while ensuring a smooth transition of business interests the way you want it to happen.
Since Business Planning varies greatly from person to person and organization to organization, we encourage you to make an appointment so we can see what assistance we can provide to your unique situation. We have worked with many clients and their advisors to plan and implement Buy/Sell Agreements. Life Insurance often is a major component of this type of planning.
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Larson and Brown has over 34 years of estate planning legal experience, but we do much more than simply practice law. We are personally invested in our community and work hard to meet the needs of individuals who seek our help. That’s why we build great relationships with our clients by providing valuable information, guidance, and support for current concerns, as well as long term planning.
We care. We listen. We counsel.
To set up a consultation and find out more about creating a legacy for your loved ones, call
(316) 729-0100 or use the follow the button below and send us an email. We look forward to working with you.