Buy-Sell Agreements | Video Legal Pad | Vann & Sheridan Attorneys at Law
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Buy-sell Agreements Vann & Sheridan Video Legal Pad Transcript Hi, I'm James Vann. I'm an attorney with Vann & Sheridan and welcome to this session of our Video Legal Pad. This session we're going to talk about buy-sell agreements with corporations and business owners. A lot of times we get phone calls and clients will come in and ask us about developing a buy-sell agreement between the shareholders or the owners of a corporation and what that includes and how they should go about drafting that. The benefit of having a buy-sell agreement is: as you have one or more owners of a corporation, if one or more of the owners wants to retire or to withdraw from the corporation or to just sell out and do something different. Or if death of one of the members came about or if one of the members became disabled, the buy-sell agreement often addresses how that happens and how that's to come about. And most importantly it handles, how do you value the corporation? One of the great benefits of having this buy-sell agreement among the shareholders or the owners of the corporation is it goes ahead and addresses all those issues and addresses all those questions so that if one of those circumstances were to come about, the parties already know how to deal with it, what's going to happen and you can calculate how much it's going to cost. A lot of times life insurance may come into play or disability insurance may come into play and knowing that upfront and how that interplays with the <b>…</b>
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