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Personal selling online in legal agreements

Are you looking for a seamless way to handle personal selling online in legal agreements? airSlate SignNow is here to help! With the user-friendly platform, you can easily send and eSign documents with just a few simple steps.

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By using airSlate SignNow, you can streamline your document signing process and ensure legality in your agreements. With its convenient features and secure platform, personal selling online has never been easier. airSlate SignNow is the ultimate solution for all your eSignature needs.

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hey guys ray and andrew here today we want to talk about buy sell agreements and succession planning so ray what can you tell us about it so when we talk about succession planning succession planning actually covers a lot of topics right but basically what that is is what happens to the business whenever a key owner wants to either leave the key owner passes away or if a key owner just wants to exit the business what happens to the business who is going to take it over how our operation is going to continue and how is the business valued gotcha so what's like the best tool to use to get that in place you know so one of the things that that is used in succession planning or what's called buy sell agreements right and what a buy sell agreement does is it puts down on paper an agreement of who is going to take over the business afterwards who's going to buy it however you want to structure that who is going to take over that business should that key employee decide to either retire whether that key employee passes away or decides to just leave the business not only who's going to take it over but also how operations are going to continue and also puts how it's going to be valued which is very important you know let's say for example let's say you and your brother right start an hvac business and things are going great the business is thriving everything is awesome you're doing the work your brother's doing the work it's a great partnership so let's say something catastrophic happens and your brother horribly pas just passes away really horrible event right he passes away what happens well your brother was married right so all of a sudden his wife potentially becomes your partner and you may not get along with his wife she probably doesn't know anything about hvac so now all of a sudden you're in partnership with his wife now without a buy sell agreement or something like that in place that discusses and talks about let me tell you where this ends up it ends up in court right so if you're trying to buy out the wife or she's trying to get rid of you and or you just want out of that business you end up getting attorneys and fighting it out these buy sell agreements if you have those in place it eliminates almost all of that right because it's predetermined it talks about exactly what would happen in case an owner passes away the value of the business when the owner passed away how to value it and basically it gives you a road map on what will happen and it really keeps people from having these arguments and it's a it's a great planning tool it's a definitely something all small business owners multi owners should have absolutely especially if you're a multi-owner if it's just you right it's not that big a deal unless if you're like looking to retire and you're looking for somebody within the business to take over for you it's really good for that but especially if you have multi-owner if you have multi-owner businesses partnerships escorts you want these in place from the get-go wow everybody is still friends everybody still gets along and everybody's in agreement get these things in place that way there's no argument when something happens yeah you know it's one of those things you we talk to small business owners all the time and you're going into a business starting a business you never think that there's going to be a disagreement between the partners that causes a a split or a passing away of a partner you always think it's not going to happen to you but uh we see it a lot and we see it happen and it's definitely something to uh to have on the front end absolutely so you know you really need an attorney to help you put those things in place if you don't have a good business attorney that you can trust to talk to give us a call and we can point you in the right direction and we can also give you some ideas on succession plan great yeah awesome thanks for going through buy sell agreements and succession planning with us greg absolutely

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