Business Continuity
Protecting the Business
Ensuring your company survives the loss of a key partner or revenue generator.
Ensuring your company survives the loss of a key partner or revenue generator.
Who is the one person your business cannot afford to lose? The top sales producer? The technical genius? The owner with all the banking relationships?
Key Person Insurance is a policy owned by the corporation on that individual. If they pass away or become critically ill, the company receives a tax-free cash injection.
If you have business partners, what happens if one passes away? Without a plan, their shares—and their voting rights—usually pass to their spouse.
Suddenly, you are in business with your partner's spouse or lawyer.
A Funded Buy-Sell Agreement ensures the cash is available immediately for the surviving partners (or the corporation) to buy out the deceased partner's shares at fair market value. The family gets the cash they need, and you retain control of your business.
Do you have a Shareholders Agreement? Is it funded? We can work with your legal counsel to ensure your business is protected.
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