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Ray and Andrew discuss buy-sell agreements and succession planning in this video. Succession planning involves determining what happens to a business when a key owner leaves, passes away, or exits the business. It covers topics such as who will take over, how operations will continue, and how the business is valued. A buy-sell agreement is a key tool in succession planning, outlining who will take over the business and how it will be transferred should a key owner decide to leave or retire.