Strategies for Business Owners - A Summary

Life insurance can meet business needs as well as personal needs. When the business is the largest asset of an owner’s estate, life insurance becomes a major planning tool. Continuation of the business after death, replacement of key employees, equalization of inheritance for heirs not interested in the business, or the buyouts of other business partners become major estate planning concerns.

There are many strategies to assist business owners to meet these estate-planning concerns. Below is a summary outlining three such strategies: the Key Person Insurance, a Section 162 Executive Bonus plan, and the Buy-Sell Agreement. (For further details, please ask for specific information.)

I DO NOT GIVE LEGAL, TAX, OR ESTATE PLANNING ADVICE. THE INFORMATION GIVEN HERE REFLECTS OUR
UNDERSTANDING OF CURRENT LAWS AND REGULATIONS. THESE STRATEGIES MAY NOT BE APPROPRIATE
FOR ALL. BUSINESS OWNERS AND PROSPECTIVE CLIENTS SHOULD ALWAYS CONSULT THEIR LEGAL, TAX,
OR ESTATE PLANNING ADVISOR(S) ON THEIR SPECIFIC SITUATION.