Andrew Van Alstyne had the privilege to be featured in Fox Business to talk to readers about best practices in preparing for times of economic uncertainty.
Andrew discusses the importance of a fully funded emergency fund along with addressing liquidity concerns in volitile times.
Fiduciary Financial Advisors, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any securities. Investments involve risk and are not guaranteed. Be sure to consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.
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For business owners, the importance of buy/sell agreements cannot be overstated. These contracts are designed to protect both the business and its owners by setting clear guidelines for ownership transitions in case of unforeseen events such as death, disability, or retirement. Without such an agreement, businesses can face severe disruptions, leading to internal disputes or financial strain.
A buy/sell agreement helps ensure that ownership changes are handled smoothly by defining how shares will be sold and at what price. More importantly, it prevents the business from falling into the hands of unintended parties, like an owner’s ex-spouse or an outsider who could negatively impact the company’s operations.
By incorporating key provisions such as purchase price determination and funding mechanisms, buy/sell agreements give businesses a solid foundation for navigating ownership transitions, ultimately protecting their long-term success.