Buy Sell LLC - Why Your Partnership Needs One

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Buy-Sell Agreements often only account for the death of an owner, without acknowledging the very real possibility that one or more of the owners may either sell their share of the business or retire from the business before passing away.
A buy-sell fully funded with life insurance greatly increased the company's ongoing survival after an owner's death, disability or retirement. A buy-sell agreement is a legal arrangement that obligates the parties involved to either sell or purchase the business. If one owner passes away, the agreement makes sure that their estate sells the business interest to the surviving owners.
Life insurance provides the funds for the surviving owners to make the purchase.

The Buy-Sell LLC is a strategy that takes advantage of the legal benefits of a legal LLC. By establishing a new or using an existing LLC to own the life insurance policies, you create an arrangement that has all the advantages of standard buy-sell planning while effectively eliminating certain disadvantages:

*Upon death of an owner, the surviving owners receive a step-up in their cost basis
*Only one policy per owner is needed
*Can create premium equity among owners despite age or health disparities
*Can provide supplemental retirement income for a retiring owner
*Can provide funds to buy-out an owner exiting the business

(c) Ameritas Life Insurance Corp. / Ameritas Life Insurance Corp of New York

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