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After
working for many years to build and establish a closely
held or family business, it is important to be able to
plan properly so the business can be passed on to the
next generation and not have to be sold in order to pay
taxes or other debts of the estate. The most important
document for any closely held business is the Buy/Sell
Agreement. For a family owned business a Buy/Sell Agreement
is essential to produce the desired estate planning results
as well as providing succession of management and ownership
to the younger generation.
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