by GCEI » Tue Oct 15, 2013 03:57 pm
Life insurance may be one of the most important purchases you’ll ever make. In the event of a tragedy, life insurance proceeds can help pay the bills, continue a family business, finance future needs like your children’s education or even protect your spouse’s retirement plans.
There are several types of life insurance. How much you need and what type is right for you depends on your needs and circumstances.
Buy-Sell-Agreement
Will Your Business Continue Without You
In a Small business having a succession plan is critical for the stakeholders. The stakeholders are not just the owners. Employees and clients are also considered stakeholders. How will your stakeholders be affected if the owner retires, dies, or becomes disabled? Planning ensures that the business will continue.
A buy-sell agreement – A formal agreement that arranges for the purchase of the business upon the occurrence of certain events, is often a good strategy.
A well thought and funded buy-sell agreement can:
- Assure the business owners family a fair value for the business
- Reduce the risk of a proposed assessment from the IRS audit
- Spell out the terms of the buyout, which will be funded with life insurance
- Provides a smooth transition of ownership
- Assure a Buyer for the business
Promotional link removed as per forums TOU
There are several types of life insurance. How much you need and what type is right for you depends on your needs and circumstances.
Buy-Sell-Agreement
Will Your Business Continue Without You
In a Small business having a succession plan is critical for the stakeholders. The stakeholders are not just the owners. Employees and clients are also considered stakeholders. How will your stakeholders be affected if the owner retires, dies, or becomes disabled? Planning ensures that the business will continue.
A buy-sell agreement – A formal agreement that arranges for the purchase of the business upon the occurrence of certain events, is often a good strategy.
A well thought and funded buy-sell agreement can:
- Assure the business owners family a fair value for the business
- Reduce the risk of a proposed assessment from the IRS audit
- Spell out the terms of the buyout, which will be funded with life insurance
- Provides a smooth transition of ownership
- Assure a Buyer for the business
Promotional link removed as per forums TOU
Posted: Tue Oct 15, 2013 08:28 pm Post Subject:
While the information posted above is not incorrect, it is plagiarized in whole or in part from one of at least half a dozen other Internet sites, any or all of which have copied the same information from other Internet sites or third-party sources. See: http://www.lifehappens.org/life-insurance/
If you are planning to post other people's material, then make it clear in your post what or who that source of information is. Otherwise, we expect mostly original thought on these pages.
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