Small Businesses Need "Premaritial Agreements"
"Every business needs a 'premarital agreement' that covers what happens when an owner wants out.
Many, if not most, LLC owners overlook a critical element of their operating agreement that can save them both money and angst: 'buy-sell,' or 'buyout,' provisions. When you have buy-sell provisions for your operating agreement, you and your co-owners can prepare for events that have been the downfall of more than a few successful small businesses -- namely, the death, divorce, bankruptcy or retirement of one of the owners."
Read more in this findlaw article.
