PLAIN-LANGUAGE ANALYSIS
What this guide is designed to clarify.
An ownership interest may be governed by an operating agreement, shareholder agreement, buy-sell arrangement, beneficiary designation, trust, will, or several of these at once.
Estate planning counsel can identify coordination questions and document the client's wishes, while valuation, tax, insurance, and transaction advice should come from the appropriate professionals. No tax or continuity result is guaranteed.
Coordination questions
01
Who may manage the business during incapacity
02
What agreements restrict or direct a transfer
03
How ownership is titled and valued
04
Which family members or partners need clear instructions
05
Which issues belong with tax, financial, or business advisors