Business Services - Buy-Sell Agreement Funding Solutions
Protecting your business is an essential part of preserving your estate. When an active shareholder in a business can no longer participate in the business, it's important that the other shareholders have a plan in place to continue the business. A Buy-Sell agreement ensures that money is available to buy a deceased partner's share of the business, using life insurance as the vehicle to fund this purchase.
Business partners want to ensure that if one partner dies, the other partners will be able to purchase the deceased partner's shares from the heirs and continue the business without interruption.
Our Buy-Sell strategy involves a joint first-to-die insurance policy and a completed Buy-Sell agreement. A Buy-Sell agreement is like a "business will" and is a written legal document. Along with your advisor, a lawyer and accountant need to be part of the team when setting up the agreement
People often delay buying life insurance, thinking that they can buy it later. Life insurance is medically and financially underwritten, which means that your eligibility to purchase life insurance along with the amount of protection you can purchase are based on your current health, medical history and ability to pay.
If your health deteriorates or as you age, you may find it difficult or expensive to purchase life insurance.