Are you a proprietor, partner, shareholder of your company?
If you, your partner, or shareholder died!
Would the business fold or the deceased partner or shareholders spouse be your new partner or shareholder?
Is this what you would want?
Unless there is a Buy-Sell Agreement in place this would be the case!
A Buy-Sell agreement is a legal contract between the seller (the sole proprietor, partner, or shareholder) and a buyer (a person, partner, or corporation wishing to buy the proprietorship, partnership, or shares).
Buy-Sell agreements funded with life insurance provide the beneficiary with sufficient funds to acquire the deceased’s interest in the proprietorship, partnership, or corporation.
A Buy-Sell agreement will specify price and the terms of payment. It should be a binding agreement that sets out all terms and eliminates the need for negotiation at the time the agreement is exercised. This means that the seller must sell to the buyer under the agreed-upon conditions.
There are several ways buy-sell agreement can be funded with life insurance!
Call or Email Me Now for More Information!
Phone: 250-979-0570
