Buy-Sell Cross Purchase Plans

Buy-Sell Cross Purchase Plans2021-04-21T20:01:42+00:00
Buy-Sell Cross Purchase Plans 4 |

Redistribute Owner Shares with Buy-Sell Cross Purchase Plans

It is very likely that your business has multiple owners. In the event of one of these members should pass away, you need a rock solid plan for distributing their business assets. Unfortunately, sometimes these events are not amicable or well planned and can create a personal and legal rift between owners.

A Buy-Sell Cross Purchase Plan is an agreement on the purchase and distribution of assets  and shares upon the death of partner. By creating an agreement, the remaining owners leverage the deceased life insurance policy to purchase and distribute the now vacant shares. This method is is excellent in the case that the now available shares should be redistributed to the existing owners.

Buy-Sell Cross Purchase Plans are detailed and specific

When looking to create a Buy-Sell Cross Purchase Plan for your business, it is critical to find a financial advisor that has a history of working on Buy-Sell Cross Purchase Plans. Businesses have many moving parts and the distributions will need to be very specific in order to protect the business, deceased, and shareholders. A single missed clause could ruin everything.

Intelliplan Pros have been writing these policies for a long time. We know exactly how to structure the plan to protect everyone involved. Call us or schedule an appointment to start building a Buy-Sell Cross Purchase Plan for your business.


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