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Business Protection

Buy-Sell Agreements

Owners and partners in business must safeguard their interest by using insurance to protect against a catastrophic event. A buy-sell agreement provides a pre-determined framework for payout and succession in the event that a key person dies or becomes disabled. Most significantly, it prevents the surviving partners from being forced to accept the deceased’s beneficiaries as a new ongoing business partner, as well as mitigating the chance of expensive and contentious litigation over the value of the business.


How Buy-Sell Insurance Planning Works

We provide the following services:


* Bring in valuation experts if necessary

* Help the partners resolve any ambiguous issues related to equity

* Coordinate with CPAs to get the required due diligence documents

* Work with counsel to create the required legal documents

* Evaluate the underwriting considerations for life insurance & disability insurance risk

* Present each case to the insurance companies’ underwriters and serve as an advocate to help secure the best coverage and price

* Once coverage is issued, we organize the insurance policy & data for counsel to insert into the buy-sell agreement

* Coordinate with the CPAs to establish ongoing billing & payment

* Prepare documentation to inform spouses and other concerned interests


Key Person Insurance

A key person is an individual whose knowledge, creativity, inspiration, reputation or skills are critical to the viability or growth of an organization and whose loss may cripple it.  Who would replace a key person in providing the functions that they provide?  Would revenues and/or cash flow suffer?  This concern is legitimate and key person insurance can help save a business and protect the business owner’s family in case of death or disability of a key person.

How Key Person Insurance Works

Key person insurance protects a business when the key person insured is unable to work due to illness, injury, or death. The owner and beneficiary of the policy is the business.  If something should happen to the insured key person, the business would receive a payout or lump sum to cover critical expenses, debts, and money lost due to the loss of  duties performed by the key person.  A key person could be a business owner and/or a key employee.

Investors in Your Company

Many people that consider doing business with a company as an investor or stockholder will only do so if the company has key person insurance. If something were to happen to the business, the investor would lose money so investors are weary about going with companies without key person insurance.