Partnerships and the importance of a good buy/sell agreement with Ali Oromchian

<p class="MsoNormal" style="line-height: 150%;">Welcome to this episode of 20/20 Money! My guest on today’s show is <a href= "https://www.dmcounsel.com/ali-oromchian-medical-and-dental-attorney"> Ali Oromchian</a>. Ali joins me back on the show to talk about a not-too-common but very important part of any partnership: the terms and conditions of the buy/sell agreement that essentially is a part of every partnership. The extent to which the terms of the buy/sell are explicitly documented, however, can be wide-ranging.</p> <p class="MsoNormal" style="line-height: 150%;"> </p> <p class="MsoNormal" style="line-height: 150%;">In this conversation, <span style= "mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: Calibri; color: #212121;"> Ali and I define <span class="apple-converted-space">a buy/sell, how they work, some of the key elements of a buy sell, who needs one, and valuation ideas for quantifying the value of the practice. We also talk about pros and cons of a 51/49 partnership agreement, different triggering events of a buy/sell, and how one should protect themselves against financial decisions of their partner should financial insolvency become an issue.</span></span></p> <p class="MsoNormal" style="line-height: 150%;"> </p> <p class="MsoNormal" style="line-height: 150%;">As a reminder, you can get all the information discussed in today’s conversation by visiting our website at <a href= "http://www.integratedpwm.com/">integratedpwm.com</a> and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also <a href="https://integratedpwm.as.me/?appointmentType=1713824">set up a Triage conversation</a> to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in