Instead what you do is offer him say $200,000, more or less, and see if that works. You will need a contract for this sale. By all means, get an attorney for this.
I'm sure you will not inherit the business without some sort of buyout. Sounds like a wonderful opportunity depending on what it will cost you to acquire the company.
So I work for a financial advisor who sells tax deferred executive comp and annuities. He has been in the business for forty years, and started his own company back in 2000. He has been pushing me to get my insurance license (health and life) and eventually take over his company. He is the only person at his company, in essence he is independent, but he makes over 150k a year. I am very hesitant about going into insurance, but I know this is a good oppurtunity. I am a junior in college (going to be senior and 21 in august), but I have been with this guy for three years and he was born in 1946, so he is getting close to retiring. What do you guys think? My alternative would going to start a tech company with a friend in SV, (start up with all of its risk!). I am just young and ignorant. Opinions?
