A Buy Sell Agreement, also known as a business continuation agreement is put into place to guide how a business will transition assets when there are changes, such as a death of or in event of disability of an owner/partner or even retirement. It determines who will have control and how assets will transfer.
A funded agreement assures that the business is intact for the surviving owners/partners in the event of death or disability of one of the other owners/partners or if there are beneficiaries that all will be taken care without severe financial strain on the company.
One option to achieve this is via term insurance or disability insurance helping to fund the agreement. If you are seeking quotes, please feel free to contact us at email@example.com