Buy/Sell Insurance- Keeping your company Alive!
As a successful business owner, you have worked hard to reach your goals and it is probable that your business has become one of your most valuable assets. But, have you considered what will happen to your business and family should you unexpectedly die or become disabled?
How Can You Protect Your Business and Family?
The Buy-Sell Agreement
When examining different strategies, it is important to select one that insures a smooth transition of ownership and protects your family’s financial future. A buy-sell agreement can help you accomplish this goal.
A buy-sell agreement is a contract between business owners. At the loss of an owner, the business interest is transferred according to the terms of this contract. The other owner(s) are obligated to purchase the deceased’s business interest and the deceased’s heirs are obligated to sell. Just look at what a buy-sell agreement can do.
- Are free of business worries and guaranteed to receive a fair price for the sale of the business interest.
- May avoid some of the delays associated with probate.
Your Surviving Business Partners
- Will not have to worry about new and possibly unwanted partners.
- Know the purchase price of the business beforehand.
- Remain in good standing with clients and creditors through a smooth transition of ownership. Simply put, a properly funded buy-sell agreement will benefit your family, surviving owners, and creditors.
Get the right advice. Contact us on (07) 55982544.