In this article, we explain how to fund a buy-sell agreement. We answer the question, “how do buy-sell agreements work?” and explain alternative methods to raise capital for buy-sell agreements, such as: using life insurance to fund a buy-sell agreement, using a cash account to fund a buy-sell agreement, using a bank loan to fund a buy-sell agreement, and using installment payments to fund a buy-sell agreement.
In this article, we answer the question, “what happens if co-trustees disagree in Illinois?” We explain the pros and cons of multiple trustees and co-trustee disputes and litigation in illinois. We also answer the question: “what happens if co-trustees are deadlocked in Illinois?”
In this article we explain stock transfer restrictions in closely-held corporations and LLC. We answer the question: “when are stock transfer restrictions beneficial?” We discuss how to structure stock transfer restrictions in your operating agreement or buy-sell agreement. We explain various options for restricting transfer of ownership interests including requirements that the board or other shareholders approve a transfer of stock, rights of first refusal for transfer of stock, and mandatory purchase of stock by the company or other shareholders.
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