b'New MRCA Members Alan SchweissRobert WEarl M lintoMRCA appreciates the dedica HumbargercC ck Arch tural Pro CouncilConSpecT Services IncTask Force for B lding Renewal tion and commitment of our newitec ui3527 Whitsetts Fork Rd3702 WStState of Nebraska members! We bid awelcome,Sample fondWildwood, MO63038South Bend,46619Execu e- Ste 509 andhope youenjoy thebenefitsINtiv Bldg and services we work hard to pro 521 South 14th St vide to allour roofingcontractorSteve BaumstarkDan HensleyLincoln, NE68508 members.Baumstark Roofing Inc.Hensley Coating Company Congratulations to the following600 Arce Blvd800 Brookwood CircleThomas Krum PeaPO Box 851Man n 66502TSK Roof Consulting, Inc members. Welcome to your asso hatta ,KS 576 O hard Road ciation. Thank you for joining us!Wen lle, MO63385rctzviBelow is aof new membersEggebaraatenarshall Ml BryanM ,49068 list whohavejoinedMRCAsinceSteve BrownOverhead Construction Octoberof2001.Welcome,andBrown Roofing Commercial &1 Dr. 7259 Northcreek thank you for supporting your pro ResidentialFarmington, MN55024 fessional association!300 Floral Ave Springfield, OH45503Dale R. Payne Sidney ArmstrongSumner Roofing Co. Alice Roofing &Metal115 Powell Dr Sheet Hendersonville,37075 Works IncTN 9092 Green Rd Converse, TX78109 "Helping You Make Sense ofAll" It The Importance of a Buy-Sell Agreement J.,Finan business This article appears courtesy ofTodd Gentry CLTC.Todd is aotherentities. In simple terms, a-sell agreement sets forth theitionsunder cial Planner with Metropolitan Life Insurance Company. He specializes inbuy condwhich a(s) will sell,another shareholder(s) will buy interests meeting the individual insurance and financial services needs of people inshareholder and in a. AIcan be a tool to con a the roofing industry.You can reach Todd at the office atbusiness buy-selagreementvert stock interest into cash when aretires,becomes 800/348-1128ext3319.MetropolitanLifeInsuranceshareholder Company,NewYork,NewYork,10010,980920XDdisabled or dies. It may also serve to establish the value of the (exp0904) MLIC-LDcompany\'s stock for federal estate tax purposes. T etwo basic types of-sell agr ments: cross-purPlanning for certain contingencies such as death or dis her arebuy eechase and stock redemption-as well as aorinaability is a concern that affects allbusinesses. Whetherhybrid,combtion agreemen Each has its advantages anddvantages, and large or small, whether organized as aproprietorship,t.disasole partnership orcorporation,everybu needstocare must be taken in the funding of any buy-sell agreement, siness address its future survival and the financial security of itsent especially whenthe agreem is for retirement or disability purposes. The advice of aknowled in federal key members.professionalgeable and state estate tax laws, corporate tax r and therAmong the important questions forowners toegulations,vabusiness iousmetho offunding a buy-sell agreement shouldbe address in succession planning are:ds Is there amarket for my business?sought. ready If Imy interest, will Iable to get full sellbevalue?Will Iable to protect the interests of my family?Types of beAgreementsAre family members interested in, and capable of, taking over the busi A cross-purchaseagreementobligatesshar topurchasethe eholders sharesofa retiring,disabledordeceasedshareholder, andobligatesa. ness?the remainder of this information will focus on buy-sell agreementsdeceased shareholder\'s estate toll shares onlysu sharehol "l Whilese torvivingders. for acorporation, some of the issues raised may be relevant toContinued on page 15 closely-held'