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In this episode of TFE Talks, Jordan Goewey and Matthew Edwards discuss the critical role of buy-sell agreements in business ownership. They explain what buy-sell agreements are, the differences between cross purchase and redemption types, common triggering events, and various methods for valuing a business. The conversation also covers strategies for funding buyouts, the best timing for creating these agreements, and common mistakes business owners make—such as neglecting to update or review their agreements. Key takeaways include the importance of having a buy-sell agreement in place from the start, regularly reviewing and updating it, seeking professional advice to ensure the agreement meets the evolving needs of the business and its owners, and more.
Topics in this conversation include:
- Introducing Today’s Topic: Buy-Sell Agreements (0:33)
- What is a Buy-Sell Agreement? (1:16)
- Types of Buy-Sell Agreements: Cross-Purchase vs. Redemption (3:22)
- Valuation Methods in Buy-Sell Agreements (5:44)
- Payment Methods for Buyouts (8:52)
- Timing: When to Set Up a Buy-Sell Agreement (11:23)
- Common Mistakes and Practical Advice (13:42)
- Reviewing and Updating Buy-Sell Agreements (15:24)
- Final Thoughts and Takeaways (16:33)
TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.
The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney.
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