Investing
4 months ago
How to create a buy-sell agreement for a small business partnership
20
My business partner and I (50/50 LLC) need a buy-sell agreement. Neither of us wants the other's spouse or kids becoming a business partner if one of us dies. We've heard of cross-purchase plans funded by life insurance. How does this work? We each buy a life insurance policy on the other? What about disability — what if one of us becomes permanently disabled but doesn't die? How is the business valued?
DR
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