In all of the business planning you’ve done, you might not have thought about what happens to your business if you retire, move on — or in a worst-case scenario, become incapacitated or die. Having a buy-sell agreement establishes a clear plan to handle any of these events. Without one, a company could face major tax…

Meredith Wood writes for NerdWallet. Email: meredithw@nerdwallet.com.

The article Buy-Sell Agreement: What Is It and Do You Need One for Your Business? originally appeared on NerdWallet.

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