Summary
"Life insurance is always an important part of estate planning, but it can be even more vital when a person has an ownership interest in a company," he says. "Let's say two partners each own an equal share of a business. If one dies and the surviving partner doesn't have the funds to buy out the decedent's interest, the family of the deceased may sell it to an outsider, and the surviving partner is suddenly teamed up with a stranger."
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Extract
Money to Buy Out a Deceased Partner
A BUSINESS CAN REPRESENT the single largest asset a family owns, but turning the underlying value into cash-especially aft...
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