Buy/sell agreements work

If a partner dies, the family of the deceased may not want to be actively involved in the business and the surviving partner likely do not want the beneficiaries to be involved in the business either. However, the deceased’s heirs are entitled to the fair market value equivalent of the deceased’s interest in the business, this is when an insurance is utilized to cover a Buy / Sell agreement after a partner is deceased to settle their share of debts / ownership in a business.

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