do to see that our remaining professional responsibilities are taken care of in the event of our deaths? We do all die sooner or later and many of us get little to no warning before we find ourselves unable to work further and perhaps even unable to direct anyone to work for us.
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Last edited by erchess; 11-27-2007, 01:58 PM. -
I have met many practioners over the years and have one that is at least 20 years younger than me. I chose him because he has many of the same client types and has shown me that he can do the work without loosing any of my clients in the transistion. We have discussed a takeover price, the usual $1 for $1 and who the money goes to.
I'm sure I should be doing more about this but have not. I'm only at the beginning stages and feel that I need some kind of contract, for my wife's sake.
The contract should require the takover accountant to step in right away in order to keep the info flowing. The person I chose has the same accounting systems and tax programs, I thought that it was important for a quick file transfer.
Like I said, I'm still working on this and would like to hear other comments as well.Last edited by BOB W; 11-26-2007, 07:34 PM.This post is for discussion purposes only and should be verified with other sources before actual use.
Many times I post additional info on the post, Click on "message board" for updated content. -
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ChEAr$,
Harlan Lunsford, EA n LAComment
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and it is usually paid over a three year period.......................The problem is that any clients lost during the tranistion from one accountant to another comes out of the sellers pocket. So finding a good takover accountant keeps the money coming in for the 3 year buyout period.Originally posted by ChEAr$ View PostLast edited by BOB W; 11-28-2007, 08:58 AM.This post is for discussion purposes only and should be verified with other sources before actual use.
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