What it means
Buy-sell and succession planning addresses what happens to ownership when a partner retires, dies, becomes disabled, or leaves. Insurance may fund agreements in some designs — legal and tax professionals often coordinate the full plan.
Concept
Buy-Sell / Succession Planning
Education about ownership transitions, buy-sell structures, and funding concepts.
Who it is for
- Multi-owner businesses and partnerships
- Family businesses planning generational transition
- Professional groups with shared equity
Common misconceptions
- Myth: 'A handshake agreement is enough.' Reality: Documented plans reduce conflict.
- Myth: 'Insurance alone creates a buy-sell.' Reality: Legal agreements define the mechanism.
- Myth: 'We are too small for succession planning.' Reality: Smaller firms often need clarity most.
Questions to ask
- What triggers a buyout in our current agreements?
- How is fair value determined?
- Who are our legal and tax advisors on this topic?
Ready to explore this on a concept call?
Free · Education-first · No pressure to purchase