As a business owner, what plans do you have in place to protect your business in case of a sudden illness or disability?
Answered by:
If you own a business with one or more partners, and one of the partners dies/ becomes disabled/retires, you need a mechanism that returns control to the remaining partner(s) AND gives the departed partner's family the value of his interest in the business. This is typically accomplished using a Buy-Sell Agreement and life insurance. Contact me for more information. [email address].