Buy Sell Agreement with Corporate Trustee
Buy Sell Agreement with Corporate Trustee includes all the aspects of a Buy/Sell Agreement including:-
- Provisions for corporate trustees
- Contemplates ownership of shares in the business via trusts
A Buy Sell Agreement for use with co-owners of a business who own their shares through a trust.
A Buy Sell Agreement, also known as a buyout agreement, is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or is otherwise forced to leave the business, or chooses to leave the business.
It may be thought of as a sort of premarital agreement between business partners/shareholders or is sometimes called a “business will”. An insured buy–sell agreement (triggered buyout is funded with life insurance on the participating owners’ lives) is often recommended by business-succession specialists and financial planners to ensure that the buy–sell arrangement is well-funded and to guarantee that there will be money when the buy–sell event is triggered.
14 pages long.