A buy-sell agreement is an agreement among the owners of a business entity, or among the owners and the entity, that provides for the purchase of an owner’s interest in the entity under specified circumstances.  The agreements come in a variety of forms and accomplish different objectives.  Such agreements are useful from an estate planning perspective because they enable an owner of a business to limit ownership of the business in the future to those individuals actively engaged in the business.  A buy-sell agreement can also provide a market for an owner’s interest in the business at death or retirement.