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Business Succession life insurance benefits allow for cash flow that will be available when a business owner dies.

This helps mitigate the sometimes detrimental effect on working capital. When a Colorado business does not have a life insurance policy, that business or owners that remain may be required by contract to purchase the seller’s interest at the time of the seller’s passing, but lack the necessary cash flow to do so. A business life insurance policy, particularly a cash value life insurance policy, can allow for the needed financial liquidity when it is required.

Buy-Sell Life Insurance

Buy-sell life insurance agreements can be structured in different ways noted below. A company’s tax advisor can help determine which buy-sell life insurance is best suited to your needs. Buy-sell life insurance agreements will work for any Colorado business such as a partnership, a sole proprietorship, or a limited liability company LLC.

Buy-Sell Agreements

In many cases, the owner of a business does not want it liquidated after his or her passing. Most want their business to prosper and continue on with success. Proper planning with buy-sell agreements will allow for a smooth transaction.

A buy-sell agreement can be arranged to work with corporate shareholders, owners of a partnership, or between a sole proprietor and a key employee. A buy-sell agreement commits the surviving key employee, business owners, or the business itself to buy the interest of the owner who has died.

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