Buy-sell agreements

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Running Time: 8:35

Date: 01/10/2014

In the event of the untimely death of a client's business partner, a Buy-Sell agreement could bring them 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 looks at 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.