Business Planning - Buy/Sell Agreements

Business succession planning involves a buy-sell agreement funded with life insurance. Proper legal documents and Life Insurance planning can help assure that your business will pass into the hands of the successors you choose.

Without a business succession plan, Uncle Sam could easily become your primary heir. Or, your business could pass to family members who may be unable or unwilling to continue your business. If your family was forced to quickly liquidate your business to raise cash for estate taxes and settlement costs, they probably wouldn't get the going market value. A buy-sell plan funded by life insurance, however, provides for an orderly transfer of your business to the successor of your choice, at an agreed-upon, fair market value. The life insurance covers most of the costs of the business purchase for pennies on the dollar.