Unilateral ‘One-Way’ Buy-Sell Agreements for Family Businesses

“Unilateral ‘One-Way’ Buy-Sell Agreements for Family Businesses”, published by InsuranceNewsNet Magazine in March 2014, is an article written by BSMG’s Russell Towers. This article focuses on what to do when encountering a successful family-owned C corporations, S corporations, or limited liability companies (LLC) where the individual who founded the business owns 100 percent of its shares. In most situations, the sole shareholder usually wants to have one or two members of the family’s younger generation take over the business. The article explains how a unilateral “one-way” buy-sell agreement makes this possible, in addition to ensuring the surviving spouse has enough income to keep the same lifestyle to which they have become accustomed.
To read more, download a PDF of the article or read it on the web.