If you own an interest in a closely held business, it’s critical to have a well-designed, properly funded buy-sell agreement.  That's because buy-sell agreements can provide liquidity.  Without one, an owner’s death can have a negative effect on the surviving owners. What would happen If one of your co-owners dies?  You may be forced to go into business with his or her family or other heirs. And if you die, your family’s financial security may depend on your co-owners’ ability to continue operating the business successfully. Estate taxes: buy-sell agreements can provide liquidity to pay them There’s also the question of estate taxes. The federal gift and estate tax exemption is currently $11.4 million,.  As such, estate taxes affect fewer people than they once did. But estate taxes...