How to Purchase Block of Business from Agency, of which You Produced 99% of Sales

kmoore

New Member
1
I have worked in an agency for 15yrs and the owner and I have talked about me buying the block of business and it was just understood, that I would want to purchase and continue when he gets near retirement. I would like advise on how to buy what I have buildt up over the last 15 years and what is a fair price. It consist of all health insurance and some dental insurance. I wrote all the business, but we have it under an LLC. The owner would like to have me pay it out over time, therefore avoiding a big tax liability, but he doesn't really want to give me control of the company until he is paid out. I want to get control of the company and still be able to pay him out without coming up with the total all at once.
What kind of attorney do I seek?
Do I need to see an accountant first?
If I asked for a loan from a lender, how would they loan me the funds unless I can prove I own the company.

any suggestions
 
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