Products tagged with 'succession planning form'

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Sole Proprietorship Buy-Sell Agreement

The Agreement is between the owner of a sole proprietorship and an employee who wants to purchase the business when the owner dies, as both parties want the business to continue to exist.
On the death of the proprietor, the executor or administrator of the estate will sell the business to the employee.
The employee will finance the purchase through proceeds of a life insurance policy on the life of the proprietor.
The purchase will include all real property, accounts receivable and other assets of the business.
The parties will jointly determine the value of the business at the end of each fiscal year.
This is a generic legal contract template which does not contain specific references to the laws of any country and can be used in most common law jurisdictions.

$17.99

The Agreement for Purchase of Business as Going Concern is a great succession planning tool if you have no family members able or willing to take over the business.
The transaction will take place upon the winding up of current business operations by the present owner.
The agreement terminates the employee's employment, and establishes an agency relationship between the employee as buyer and the owner as seller with respect to ongoing contracts and obligations of the business.
The buyer, as agent for the seller, will pay the outstanding liabilities and will perform any required warranty or service work under existing contracts with clients.
This is a generic legal contract template which does not contain references to the specific laws of any country or jurisdiction.

$12.49

This sample Succession Plan is designed to assist the owners of a family operation or other small business in planning for the future of the business following the retirement, disability or death of the principal owner(s), through:
- training other members of the family or company team in management roles,
- granting stock options as incentives,
- setting up a board of advisers with expertise in financial, legal and other areas,
- developing business plans and initiatives to grow the business and protect the owners' interests.
If you run a family business and you haven't put together a succession plan yet, don't put it off any longer. Download and complete this template.

$17.99

The aim of the article is to help small business owner-managers prepare a succession plan to ensure that their businesses continue to thrive after their departure.
These top 10 tips can help you put together a successful exit strategy that not only addresses your personal needs, but is also in the best interests of the business.
The author is an Ontario lawyer whose main focus is small businesses.
Available as a PDF download.

$9.99

The Buy-Sell Agreement provides for the purchase of one shareholder's interest by the other shareholder upon the death of the first shareholder.
The purchase is made by a method called the 'criss cross' method. That means that each shareholder holds a life insurance policy on the other shareholder, and the deceased shareholder's shares are purchased using the proceeds of the life insurance.
This is a fully editable legal form in MS Word format which can be customized to fit your circumstances.
Governed by Canadian tax laws and ntended to be used only in Canada.

$29.99

The shareholders have appointed a trustee for the purpose of holding life insurance policies on each shareholder in trust to the benefit of the other shareholders.
If a shareholder dies, the trustee, on behalf of the surviving shareholders, will purchase the deceased's shares in the company using the proceeds of the life insurance.
This is a fully editable legal form in MS Word format which can be customized to fit your circumstances.
Governed by Canadian tax laws and ntended to be used only in Canada.

$29.99