Partnering For Your Future™.

A Buy-Sell Agreement for Business Succession

One of the key components of a business succession plan is a carefully crafted buy-sell agreement. A buy-sell agreement is a contract that aims to smooth the transition should the owner experience a sudden death or disability. Two of its functions are as follows:

To create a market for a deceased owner's business interest.
To obligate the owner's estate to sell his or her shares for a predetermined price to partners or shareholders (a cross-purchase agreement), to the business itself (an entity agreement), or to both (a hybrid, or "wait-and see" agreement).

Life insurance is often the preferred method for funding a buy-sell agreement. The time to plan for insurance is now, before the need arises.

Gene G. Stern, CLU®, CRPC, CFP®
President

805 Executive Ctr Dr W
Suite 120
St Petersburg, FL 33702

ph: 727.369.1512
fax: 727.578.4024
toll free: 800.232.3653

Gene.Stern@LFG.com

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