Buy / Sell Agreement Funding
If you have business partners and you have not signed a buy/sell agreement, you are putting your family and business at risk! With a signed agreement, your next step is a Life and Disability policy to fund your purchase of the shares.
Buy/Sell coverage is designed to provide funding for the remaining owner(s) or shareholder(s) to purchase the business interest from the estate of the deceased.
A valuation is arranged, an agreement is signed, the funding policy is in place and the business remains in the hands of the remaining partners. Would you choose to be in business with your partner’s family members? Probably not! By being proactive, you ensure your business legacy survives and your family members receive a fair price for your shares.
Companies that typically purchase this type of protection include:
- Accounting Firms
- Advertising Agencies
- Architectural Firms
- Computer Software Firms
- Medical Clinics & Practices
- Mixed Paramedical Clinics
- Engineering Firms
- Employment Agencies
- Small Manufacturers
- Any Business where you have 2 – 5 active principals!