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.
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.