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The #1 Mistake Business Owners Make (and How a Buy-Sell Agreement Saves Your Legacy)
Season 1 Episode 207
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What happens to your business if your partner dies, divorces, becomes disabled… or just wants out?
On today’s episode, Darren and Christina break down one of the most overlooked — yet absolutely critical — tools for business owners: the Buy-Sell Agreement.
A buy-sell agreement isn’t just a legal document. It’s a business-saving strategy that protects your company, your partners, your family, and your legacy when the unexpected happens. Whether you’re a doctor in a practice, a real estate investor with JV partners, or running a family-owned business — this is an episode you can’t afford to miss.
Here’s what we cover in this episode:
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What is a Buy-Sell Agreement? (and why every business needs one)
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The devastating risks of NOT having a plan in place
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Real-world stories of businesses saved (or destroyed) by buy-sells
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The importance of business valuations (and CRA compliance in Canada)
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Key clauses every buy-sell agreement should include (shotgun clause, first right of refusal, tag-along/drag-along, and more)
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Why funding matters — and how life insurance is the smartest, most tax-efficient tool to protect your business
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Cross purchase vs. share redemption: how to structure agreements properly
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Tax advantages of using insurance inside your corporation
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Legacy and succession planning for multi-generational businesses
Darren and Christina share real client examples, common mistakes, and practical strategies that could save your company millions — and prevent your family from inheriting chaos instead of wealth.
If you’re a business owner, entrepreneur, or investor, this is an essential episode for protecting everything you’ve worked for.
Show notes:
00:00 - Introduction
1:55 - What is a buy-sell agreement?
7:50 - Common clauses in a buy-sell agreement
15:35 - Funding a buy-sell agreement
21:00 - How does it work when you die?
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Published on 1 month, 1 week ago