Assume that Bob’s 50% partner in the business is his old college friend Rick Wilson. Rick’s wife, Delores, has no interest in running the business. Do the Parkers need a buy-sell agreement? Describe the types of buy-sell agreements.
Scenario Bob and Barbara Parker are in their 30s and have been married for 7 years. They have 2 children. They own 2 cars and a home valued at $500,000. Bob owns 50% of a garage door installation company valued at $2,000,000. The business provides the Parkers with a gross annual income of $150,000 per […]