Buy and Sell Agreements
A Buy and sell agreement is a contract that determines how the surviving shareholder(s) is going to remunerate the estate of the deceased shareholder for his/her share.
It is important to have such a agreement, because if the surviving partner does not have enough cash to buy out the deceased partners share then he has options to either get a unknown party in to provide cash or he will have the deceased beneficiary as partner
Situations that could have been prevented.
It can be by way of life cover policy or cash or other arrangement(s).
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