Nationally known estate planning authority Louis A. Mezzullo provides comprehensive yet practical advice for designing an effective buy-sell agreement to be used as an exit strategy or as part of the succession or estate planning process. This concise guide succinctly defines the most important of these benefits from the perspective of each party that may have an interest in a buy-sell agreement: the deceased owner's estate, the retired or disabled owner, the withdrawing owner, and the remaining owners. The book explains the important differences to consider when drafting an agreement for a business operating as either a C or S corporation, a partnership, or a limited liability company, and how to choose the right type of agreement for a particular situation. It outlines the suggested terms of a well-drafted agreement and discusses the various options for funding a buy-out, including alternative methods of compensation. Separate chapters cover issues important to S corporations, partnerships and limited liability companies, and professional service corporations Topics covered include the use of a buy-sell agreement to set the value of an interest in a business entity for estate tax purposes; income tax consequences; valuation issues; special concerns when dealing with family-owned businesses; and more. Includes ten online forms, letters, and charts available online for download.