When designing a buy-sell contract, members can include virtually any type of event they deem important and would influence the future of the business. These do not need to be standardized and can be tailored to the needs and wishes of members. However, several triggering events are often included: determining the value of an LLC stake before a client`s death helps to identify and quantify the liquidity needs of the client`s estate. A properly structured buy/sell agreement can help determine this value. However, if the valuation rules of a purchase/sale agreement are not accounted for for inheritance tax purposes, the estate may face costly valuation disputes with the IRS and possible liquidity issues. .