Buy-sell agreements: worth checking out

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Running Time: 8:34

Date: 01/10/2014

In the event of the untimely death of a business partner, a Buy-Sell agreement could bring some clarity and peace of mind.

The untimely death of a business partner is a topic no-one wants to contemplate, but it can have devasting effects on a small business at a most distressing time.  To offer some clarity for both the surviving business partner and the deceased partner's spouse, Michael Jones of Cummings Flavel McCormack suggests a Buy-Sell agreement could be well worth considering.

Michael takes us through a detailed example of how such an agreement could work, including the inclusion of life insurance policies to help fund the purchase of the exiting partner's equity in a business.