Tuesday, May 5, 2015

It's Time To Defuse Your Buy-Sell Agreement

With T. Eric Blocher &  Greg M. Lowe
McKonly & Asbury

Many businesses operate under the terms of a buy-sell agreement. Chances are that, as a business owner, you should have a buy-sell agreement. It is a prudent business practice. But here is the catch, most buy-sell agreements don’t work or won’t work as intended. The reasons why they don’t work are varied but typically include one or more reasons. A buy-sell agreement is usually ratified when a business begins. It is filed away and often forgotten.

Over time, the business, its ownership, purpose, and operations can change. The buy-sell agreement is rarely amended to include changes addressing these issues. The good news is that it is not too late to fix your buy-sell agreement!

Eric Blocher is a Principal with McKonly & Asbury with over 24 years of public accounting experience. He has oversight responsibilities for audits, reviews, and compilations for a wide range of service providers. As the leader of the valuation team, Mr. Blocher has over 17 years of business valuation consulting experience. He has been instrumental in developing a successful valuation service providing valuation and litigation support services. He has valued more than 150 closely held businesses in various industries including: professional services, real estate, manufacturing, retail, food services, automotive dealerships, and others.

Greg M. Lowe is Chief Operating Officer with McKonly & Asbury, overseeing the operational management of the firm. Most recently, he served as President of the IT services division of Intellimark/Technisource, a large national information systems consulting and outsourcing company, with over 600 employees and offices in multiple states. Prior to joining IntelliMark, Mr. Lowe held several leadership positions in sales and service with companies in the information technology and packaged foods industries.

McKonly & Asbury is a current corporate sponsor of the S. Dale High Family Business Center at Elizabethtown College

Join The Network of Family Businesses for this in-depth Webinar on Thursday, May 28, 2015 at 11:00 AM Eastern Time, with Eric Blocher and Greg Lowe.

 For additional information email: steve@netfamilybusiness.com