Dec 10, 2019
In this episode, Domenic and Andrew Kelleher discuss:
- Common legal issues when contemplating selling a business
- Estate issues when selling a business
- Getting people comfortable with a buy/sell agreement
- Life insurance as asset protection
Key Takeaways:
- Begin with the end in mind; what does the post-sale life look like?
- Make sure all business owners are in order before starting a sale
- It is important to review the buy/sell agreement regularly as the business grows
- Life insurance can preserve the value of the business
"Being proactive and making sure that these agreements or expectations are being consistently set, I think is something a lot of professionals, including lawyers, is something they should be working towards. Changing that culture towards being more proactive." — Andrew Kelleher
About Andrew Kelleher: Andrew J. Kelleher, Jr., J.D., LL.M. (Master of Laws in Taxation- Honors), Founding Member, licensed in Illinois, Florida and Arizona, concentrates in: trust and estate law, business law, tax law, and asset protection planning for high net worth business owners, executives, and individuals. Mr. Kelleher addresses a multitude of legal matters not limited to selling and acquiring businesses, advanced trust and will planning, commercial real estate, forming LLCs, partnerships and corporations, business succession planning, litigation, trademarks, intellectual property licensing, shareholder agreements, estate administration, probate, income tax structuring, estate tax return preparation, business banking and financing, employment law, executive compensation, contract review, premarital planning, divorce, and personal injury.
Connect with Andrew Kelleher:
Twitter: KelleherBuckley
Website: kelleherbuckley.com
LinkedIn: kelleher-&-buckley-llc
Phone: (847)682-5367
Email akelleher@buckley.com
Connect with Domenic Rinaldi:
Sun Acquisitions Website: www.sunacquisitions.com
M&A Unplugged Website: www.maunplugged.com
Email: marketing@sunacquisitions.com
Linkedin:
Domenic Rinaldi: https://www.linkedin.com/in/domenicrinaldi/
Sun Acquisitions: https://www.linkedin.com/company/sun-acquisitions-llc/
Facebook:
Sun Acquisitions: https://www.facebook.com/sunacquisitions/
M&A Unplugged: https://www.facebook.com/MAUnplugged/
Twitter:
@SunAcquisitions https://twitter.com/SunAcquisitions
@M_A_Unplugged https://twitter.com/M_A_Unplugged
Instagram:
@sunacquisitions https://www.instagram.com/sunacquisitions/
@ma_unplugged_podcast https://www.instagram.com/ma_unplugged_podcast/
YouTube:
Sun Acquisitions: https://www.youtube.com/channel/UCm6H7kkMD6nnXFuHgqx9Ikg
Show notes by Podcastologist: Kim Mavy
Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.