Issues: The issue was twofold. In the event that one of the partners were to die, the surviving partner wanted assurance that he would be able to preserve the business. The partners needed a plan that would provide the means for the surviving partner to buy out his deceased partner and to give the surviving partner adequate time to grieve and find a new partner. The second challenge was to find a way for both partners to equally share the responsibility and costs associated with a resolution…
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