BREW: How to Ensure Your Buy/Sell Agreement Works for You

Chad Flanagan, CPA, ABV, Eide Bailly Partner |Board of Directors |Fargo Market Leader

Chad has been with the Eide Bailly for over 25 years. He specializes in performing business valuation services for estate and gift tax purposes, litigation, and purchasing, as well as selling businesses.

In addition to performing financial projections, forecasting, and strategic planning for a variety of clients; Chad also performs succession planning to help clients determine future ownership, leadership, and management.

For many clients, the investment in their business is the most significant financial asset they own.  Our goal as trusted advisors is to help them increase the value of that asset and to realize that value.

However, many clients either don’t have a buy-sell agreement or have one that simply won’t work as the shareholders expected.  Some of these agreements are referred to as ‘ticking time bombs!

Chad will discuss the importance of the buy/sell agreement, and its effectiveness when used properly proving to be a great tool for providing direction for all kinds of triggering events that affect shareholders. He will include the three main questions to ask, a review strategy focusing on three key areas; as well as bring awareness to other deficiencies in agreements that could propose several potential issues resulting in a buy-sell agreement being a “ticking time bomb”.

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