One of the most important considerations in a Buy-Sell Agreement is the valuation method to determine the price at which a business owner may, or is required, to purchase the departing owner’s interest.
In my previous blog post entitled Protect Your Virginia Business with a Buy-Sell Agreement, I wrote in depth about the three essential terms of a buy-sell agreement. I coined the second element as
Do you own a small business or plan to start a new business with a partner/co-owner? Have you considered what will happen in the event of your death or your business partner’s death?
[image_frame style="framed_shadow" align="right" height="150" width="200"]/wp-content/uploads/2011/08/Last-Will.jpg[/image_frame]I often have friends ask me, "Can't I just go to Legal Zoom and do a Will?" or "How much does it cost for a Will or a Trust?" Both