Buy-Sell Agreements

Guard Your Most Valuable Asset with a Buy-Sell Agreement

Have you counted how many hours you have put into taking your business to its current level of success?  How much income does your spouse provide to your family, and would your family be able to live its current lifestyle on that income?

If the answers to these questions scare you, then purchasing buy-sell insurance for your business may be a great solution for you.  If you became unable to operate your business, consider what might happen in the following scenarios:

  • Would your heirs or someone in your family be able to operate your business?
  • Might selling your business become the next option?  
  • If your business was sold, would your heirs get a fair price?

As a business owner, you know how important it is to plan for the most catastrophic scenarios, and a buy-sell agreement protects your heirs in the event you can no longer operate your business.   

How a Buy-Sell Agreement Financially Protects Your Heirs

In a buy-sell agreement, all partners of a business sign a contract.  This contract states specifically what happens if one of the partners becomes unable to work on the business.  It also obligates the other owners to purchase the deceased owner’s share of the business, while forcing his or her heirs to sell their interest.  

For heirs, this means:

  • You don’t have to worry about the business
  • You are guaranteed to receive a fair price for selling your share of the business
  • Some delays of probate court may be avoided

For surviving business partners, this means:

  • You will not have to worry about taking on unwanted business partners
  • You know how much you will pay for the business prior to purchasing
  • You will stay in good standing with clients and creditors

However, there are a number of ways to structure a buy-sell agreement, and that’s where Core Benefits Group comes in.  We help you identify the right plan and premiums that work for you and all of your business partners.  

Insurance always involves a number of complexities, and at Core Benefits Group, we make the process as simple as possible.  Our primary goal is to develop long term relationships with clients like you, helping you purchase all the insurance you need to protect your business.

Get your FREE buy-sell agreement quote now