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Buy-Sell Agreements

It takes years of planning, hard work and sacrifice to build a profitable business. If proper preparation is not made to preserve it in the event of the death of a partner or a shareholder of a closely held company, everything can fall apart. Many business people fail to address this important issue.

The ideal solution is to create a buy-sell agreement. An effective way to structure this agreement is to fund it with life insurance. If one of the partners or shareholders of the company should die, the proceeds of the life insurance policy would be used by the surviving partner to purchase the shares of the deceased at a predetermined price. This not only provides financially for the family of the deceased partner, but also makes for a seamless exit strategy at a time when business decisions are difficult to make.

Promark Financial specialists work in conjunction with your tax and legal consultants to create a custom buy-sell agreement to meet your specific needs.

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