Ken Hall, Denny Woods, Larry McCredy and Scott Lar presented “Legal Issues Facing Small Business Owners When Buying & Selling a Business” to attorneys and certified public accountants in Mountain Home, Arkansas. The presenters discussed the buyer and seller considerations in structuring the transaction as well as the tax implications resulting from the transaction structure. Ken Hall and Scott Lar also discussed concepts a drafter must be aware of when drafting the transaction documents and issues that commonly arise in the due diligence process. Larry McCredy highlighted post-closing issues that commonly result in litigation, such as enforcing a non-compete agreement and successor liability, and Denny Woods detailed estate planning considerations that should be addressed by the buyer and seller, such as probate avoidance and federal transfer tax planning. The presenters would like to thank Kim Dutton with the Arkansas Children’s Hospital Foundation for allowing them opportunity to present this CLE and CPE.
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