What is a Special Purpose Buy-Sell LLC?
A special purpose Buy-Sell LLC (Limited Liability Company) is a specific type of business entity set up primarily to facilitate the purchase and sale of interests in a company, often used as part of a buy-sell agreement among business partners or shareholders. Here are some key characteristics and purposes of a special purpose Buy-Sell LLC: […]
What is a Buy Sell Agreement?
A Buy-Sell Agreement, is a legally binding agreement between co-owners of a business that outlines the procedure for the transfer of ownership in the event of certain triggering events. These events can include the death, disability, retirement, or voluntary departure of one of the owners. The primary purposes of a Buy-Sell Agreement is to ensure […]
What is Key Person Insurance?
Key person life insurance are policies that are taken out by companies on “key” individuals critical to the organizations success. Important questions every company should ask themselves: 1. How would the loss of a key sales, business or operations employee impact your organization? 2. Are you protecting your business from a key person’s early disability, […]
Life Settlement FAQs
Should you no longer need your life insurance policy, or are in a unique situation where you need cash, you may want to consider a life settlement agreement. This is where the current life insurance policy owner transfers the ownership and beneficiary designations to a third party institutional buyer, who receives the death proceeds of […]
Why Insure Your Children and Grandchildren?
Give them a “Gift of a Lifetime” to insure their future insurability and give them a savings plan. Why buying who life insurance for a child is a popular choice for parents and grandparents: Guarantees your child’s future insurability, even if health issues arise. Locks in lower premiums and ensures insurability for the child’s future. […]