Buy-and-sell Agreements

In the event of death, every jointly owned business needs a legally binding buy and sell agreement between the co-owners of the business to offer a smooth transfer of the business interest, avoiding any potential disputes.

What is it?

Buy and sell agreements protect business owners if one member falls ill or dies. In the event of death, a co-owner’s estate can be left very exposed and the remaining owners could face serious issues.

Why do you want one?

To protect yourself and your business if you have a co-ownership in place. It will provide the surviving owners with the cash to purchase the deceased owner’s share of the business.

Important to note

According to a buy and sell agreement, each co-owner takes out life cover on the others’ lives. This cover will pay out in the event of death and can be used to purchase the deceased owner’s shares. Disability cover can be added for extra protection.

Do you need it?

Yes, if you co-own a business.

How much does it cost?

The cost will depend on the cover you need.

How can we help you?

Contact attooh! to guide you through this process and find the best solution for you.

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