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Protect your Partnership With a Buy-Sell Agreement Learn more about these critical agreements that define value and buy-out procedures when one someone leaves a partnership.

By Mark J. Kohler

Opinions expressed by Entrepreneur contributors are their own.

Does your business have a plan if one of your partners dies, is disabled or wants to leave the business? It should. As soon as a business partnership has an intrinsic value, it's important to protect that value for each individual partner. A Buy-Sell Agreement can specify trigger events, voluntary or involuntary, and contain all the terms for a situation when a departing partner wants to protect his or her value in the partnership. Such agreements are additional to the business agreements of an LLC or Corporation.

For more information on business and tax planning for your partnership check out Mark's site at http://www.markjkohler.com.

Related: Why You Should Integrate a Family Trust with Your Business

What Your CPA Isn't Telling You (Book)
Mark J. Kohler

Entrepreneur Leadership Network® VIP

Author, Attorney and CPA

Mark Kohler, M.PR.A., C.P.A., J.D., is a highly respected Founding and Senior Partner at KKOS Lawyers, specializing in tax, legal, wealth, estate, and asset protection planning. With a reputation as a YouTube personality, best-selling author, and national speaker, Kohler is dedicated to guiding clients through complex legal and financial landscapes to achieve their American Dream. He also serves as the co-founder and Board Member of the Directed IRA Trust Company and has launched the Main Street Certified Tax Advisor Program to train CPAs and Enrolled Agents nationwide. As the co-host of The Main Street Business Podcast and The Directed IRA Podcast, he simplifies intricate topics like legal and tax strategy, asset protection, retirement, investing, and wealth growth. Mark Kohler's commitment to helping entrepreneurs and small business owners attain success and financial security has made him a trusted expert in the field, benefiting countless individuals and businesses in navigating the financial and business world with confidence.

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