An integral part of any succession
plan is to ensure that financing is in place to fund the
purchase and sale of the business interest if an owner dies.
The succession plan should also provide the business owner with
sufficient liquidity to fund the related income taxes and, where
possible, take advantage of any tax deferral or tax minimization
strategies that may be available
Life Insurance is generally an efficient way to fund the obligation
that results from a buy/sell agreement when a shareholder or partner
dies. There are numerous possible ways to structure a buyout
on death and life insurance funding plays an important role in
ensuring the buyout occurs.
Business Overhead Insurance
If you own a business and become unable to work,
your income will stop (or be greatly reduced) but many of your
expenses will continue. Business overhead insurance provides money
to pay those expenses until you recover and either get back to work
or make plans to sell the business.
(250) 390-1995 1-800-668-7558
Zulak Financial Group Ltd.
(250) 390-1995 1-800-668-7558