Having proper funding for a Buy-Sell Agreement could save your company in the event of an owner’s death.
What is it?
A Buy-Sell Agreement is a contract that facilitates a seamless transfer of ownership upon the death of an owner. The agreement defines who will purchase the deceased’s business interest and who is obligated to sell. The agreement also establishes the selling and buying price.
Buy-Sell funding with life insurance from Erie Family Life can provide the means to transfer the business without the need to sell off business assets.