Buy-Sell Agreements Attorneys in Arizona

Helping Business Owners Protect Their Hard Earned Assets

Today’s business world has quickly evolved due to rapid economic changes, which result in a greater need for well-written buy-sell agreements. However, many new and well-established business entities still need to catch up with the times and have buy-sell agreements to protect their interests.

A buy-sell agreement is essential for all parties who have an interest in a business. The future of the company can quickly be jeopardized if business owners fail to have a pre-written agreement on how to address triggering events that could affect ownership.

As an Arizona business owner, you must have a buy-sell agreement to protect your interests and safeguard your assets.

Contact AVID Esq. Group, LLC, and ask to schedule a free initial consultation with a business attorney who can assess your case and determine what legal strategies suit your needs.

How Does a Buy-Sell Agreement Work?

A buy-sell agreement is a legally binding contract used by business owners that provides definitive guidelines on how to transfer ownership if specific triggering events occur.

The overall objective of a buy-sell agreement is to ensure that, should there be a triggering event, the business entity will still be able to continue to operate. Even more importantly, the agreement ensures that one owner can buy out another owner’s interest.

Some of the most common triggering events that may lead to a business entity needing to be sold or transition to one owner include:

• Death
• Divorce
• Disability
• Voluntary departure

A comprehensive buy-sell agreement should address the transfer or sale of ownership to other owners or third parties.

The last thing business owners need is to suddenly worry about how their organization will survive if a qualifying event occurs.

If you want further information about buy-sell agreements, contact AVID Esq. Group, LLC of Arizona, to schedule a meeting with a business attorney who can answer your questions.

What Issues Should Be Addressed in a Buy-Sell Agreement?

A comprehensive buy-sell agreement is written with the intention of how to deal with triggering events should they occur. Failure to foresee events that could trigger a business needing to be sold could lead to conflict and uncertainty.

The most common issues that must be addressed in buy-sell agreements include:

• Feasibility with estate planning to avoid potential conflicts with family members and other heirs.
• Deciding on a valuation method to determine the worth of the business should a buyout need to occur. For example, valuation can include using a professional business appraiser or a fixed price.
• Financing options that address how a buyout will be funded. It should never be assumed that a buyer will be able to have the necessary cash on hand or the ability to obtain a loan to facilitate the purchase.
• If one owner were to divorce, their share of the business may have to be divided between them and their former spouse. A well-written buy-sell agreement can provide guidelines that give other owners the right to buy back that share of the business.
• Transition guidelines that address what the business defines as a disability and what age an owner may decide to retire.

A detailed buy-sell agreement is in the best interest of all parties involved. This will avoid having to deal with complex legal issues that can impede the business’s profitability.

AVID Esq. Group, LLC of Arizona is a law firm with extensive experience helping businesses create buy-sell agreements that withstand potential legal scrutiny. Contact our law office to schedule a free case evaluation so that we can determine how we can assist you.

Why is it Essential to Have a Buy Sell Agreement?

Although Arizona law does not mandate that business owners must have buy-sell agreements, it is always in their best interest to do so.

One of the most common issues that often disrupt business processes is when one partner dies. Without a buy-sell agreement, there would be lingering legal questions about who may own the business. Additionally, the deceased partner’s family members may feel they have a say in the business.

Additionally, if an owner becomes disabled or dies, the other parties involved in the business will most likely be left to deal with complicated tax and financial issues.

Failure to plan for unforeseen events can result in detrimental economic and leadership losses for even the most profitable business.

For these reasons, anyone who owns a business must consult an experienced attorney who can help them assess their needs and create a detailed plan to ensure the organization continues to thrive.

Allow AVID Esq. Group, LLC of Arizona, to provide you with more information about why a buy-sell agreement is essential and how we can help you with your business needs.

Why Should I Hire Your Law Firm for Help Drafting a Buy-Sell Agreement?

AVID Esq. Group, LLC of Arizona has a proven record of crafting buy-sell agreements that address the unique needs of business owners. Our experienced lawyers can also provide clients with legal advice that can make buying out the other owner’s interest easier, such as having a mutual life insurance policy that will provide funding should one party die.

Our buy-sell lawyers can also assist clients with creating estate plans that will align with the needs of buy-sell agreements. We treat clients like family and not just another transaction.

We also use the latest technology to communicate with clients, so they always feel informed about how their case is progressing.

If you have joint ownership in a business, you must have a solid buy-sell agreement in place that will protect your interests when triggering events occur. Do not allow your hard work to be compromised due to a proper lack of planning and foresight.

Contact AVID Esq. Group, LLC, at 480-467-5636, to schedule a free consultation to learn more about our legal services.