Wednesday, March 30, 2005
ABA Tax Section Offers Teleconference & Webcast Today on Buy-Sell AGreements for LLCs and S Corporations
Buy-sell agreements among co-owners or present and future owners of a closely-held business are intended to ensure the smooth future transition of its ownership. They provide the mechanism and the means to effect a change in control and a transfer of interests when certain events occur including death, disability and retirement. However, there is widespread confusion among legal professionals on the questions of whether and how to fund these agreements, even though, without such funding, they may contain what some may refer to as empty, unenforceable promises. Consequently, most existing agreements need periodic revision and improvement.
- Ronald A. Levitt (Walston, Wells, Anderson & Bains, Birmingham, AL (moderator))
- Thomas J. Nichols (Meissner Tierney Fisher & Nichols, Milwaukee, WI)
- James P. Dalle Pazze (Herdeg, du Pont & Dalle Pazze, Wilmington, DE)