Without a buy/sell agreement in place, your business may be severely compromised.
The disabled partner may attempt to conduct business at home or in the hospital, but it is likely that lack of income could easily result. Growth would be jeopardized, productivity would be down, and expenses would escalate.
If the disabled partner is to continue to receive income for the firm, you would need to decide how much and how long. You might be willing to do all the work for a fraction of the profits for one year – but would you balk at two, three, or four?
No agreement means disagreement. Call your lawyer as soon as possible – delaying the arrangement could cost your dearly.
Then, let us arrange the insurance funding for the agreement. Contact Douglas Pinnell below for expert support during this stressful time!
Testimonial from Linda Lees
"We needed to put together at response to an RFQ from a Client who requested that we carry additional insurance. Another member of our team hadn't heard from his professional insurance provider in over two weeks. Mumby replied in one day! We were able to quote with confidence, thanks so much. "