Why Does Your Business Need Buy/Sell Planning?

When you own a business, planning for the future is key. A buy/sell agreement provides clarity and peace of mind by establishing a plan in advance for the potential sale or transfer of ownership interests. 

Without a buy/sell agreement in place, a business owner's interest in the company may be subject to uncertainty and legal disputes in the event of unforeseen circumstances. By creating a buy/sell agreement, you can address important questions such as:

  • What happens if you or another owner wants to sell their interest in the business?
  • How will the value of the business be determined?
  • How will potential buyers be identified or approved?
  • What happens in the event of an owner's death or disability?
  • What is the process for a buyout by the remaining owners?

By addressing these questions and more, a buy/sell agreement can protect your business and its owners from potential conflicts and ensure a smooth transition of ownership.

Utilizing Special Purpose LLCs for Buy/Sell Planning

One effective way to structure buy/sell planning is through the use of a Special Purpose Limited Liability Company (LLC). In this format, the Special Purpose LLC is created solely for the purpose of holding the ownership interests and implementing the provisions of the buy/sell agreement. This approach allows for greater flexibility and control in managing ownership changes and transfers. A Special Purpose LLC can provide benefits such as:

  • Structure and control: The Special Purpose LLC acts as a separate legal entity, allowing for clear delineation of rights and responsibilities.
  • Privacy and confidentiality: Ownership transfers can be kept private within the Special Purpose LLC, preventing public disclosure of sensitive business information.
  • Ease of administration: The Special Purpose LLC provides a centralized platform for managing buyout procedures and ensuring compliance with the agreement.
  • Tax advantages: Depending on the specific circumstances, a Special Purpose LLC may offer tax advantages for the owners involved in the buy/sell agreement.

Our experienced business attorneys have extensive knowledge in utilizing Special Purpose LLCs for buy/sell planning. We can assist you in setting up the appropriate structure and ensure that all necessary legal requirements are met.

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Why Choose Our Firm for Your Corporate Planning?

At Strauss Attorneys, PLLC, we are dedicated to providing exceptional legal services to our clients throughout North Carolina. With offices in Asheville, Hendersonville, Raleigh, and Landrum, our experienced team of business attorneys is well-equipped to handle all aspects of corporate planning for all types of businesses, including buy/sell planning. We have extensive experience in corporate law and have helped numerous businesses in North Carolina protect their interests through well-crafted buy/sell agreements and other contracts. Our team of business attorneys understands the details of corporate planning and we take the time to understand your business goals and tailor our services to meet your specific needs. We are committed to providing personalized attention and guidance throughout the process. With a track record of protecting millions in assets for our clients, you can trust us to safeguard your business interests and ensure a seamless transition of ownership. With our multiple office locations, we are conveniently located throughout North Carolina, making it easy for you to access our services and meet with our attorneys.

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Our Team: Certified and Award-Winning Attorneys

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Andrew A. Strauss Partner, Board-Certified Specialist

With over four decades of experience, Andy takes a comprehensive approach, guiding clients through everything from basic will preparation to complex trust structures and business succession planning.

  • Top-Rated Lawyer in Trust & Estates
  • Member of the North Carolina, Florida, and Pennsylvania State Bars
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Lee C. Mulligan Partner, Attorney at Law

With a keen eye for detail and a client-focused approach, Lee helps individuals and families safeguard their legacies, minimize tax burdens, and confidently navigate complex legal matters.

  • President of Summit Title Insurance in Hendersonville, NC.
  • Numerous non-profit board services in New Jersey and North Carolina
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Cory Howes Partner, Attorney at Law

Cory combines legal expertise with a strong financial background in tax, investments, and insurance. His practice is centered around a deep commitment to assisting families with their estate planning and administration needs.

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Larry S. Hartley Partner, Board-Certified Specialist

A former U.S. Naval Diving and Salvage Officer, Larry brings dedication and expertise to protecting seniors and their families, with a focus on estate planning, Medicaid, and veterans benefits.

  • Member, North Carolina Bar Association
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Brad Henry Partner, Attorney at Law

With over a decade of experience practicing law, Brad brings extensive expertise in estate planning, guardianships, fiduciary litigation, and probate and trust administration, as well as a dedication to helping clients protect their legacies.

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Peter McGuire Partner, Attorney at Law

Leading our estate and fiduciary litigation team, Peter has practiced law in Western NC. since 2002 and specializes in trust and estate disputes, advanced planning, and business succession.

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Daire Roebuck Attorney at Law

With nearly two decades of experience, Daire guides clients through estate planning with clarity and compassion. Dedicated to giving back, she actively supports pro bono initiatives and community advocacy.

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James B. Fleming Attorney at Law

Inspired by witnessing seniors’ challenges, James is passionate about guiding families through estate planning and elder law. Through Wills for Heroes, he proudly provides essential estate planning services to first responders.

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Samantha Reichle Attorney at Law

With nearly two decades of experience, Samantha specializes in estate planning, trust administration, and fiduciary income tax matters. She has a unique ability to make complex estate planning discussions approachable.

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Consult Our Business Lawyers Regarding Your Buy/Sell Planning Today

If you are a business owner in North Carolina and need assistance with buy/sell planning, contact Strauss Attorneys, PLLC. Our team of experienced business lawyers is here to provide the guidance you need. Call us today to schedule a consultation and ensure that your business is protected for the future.

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