Sentences with phrase «death of a business owner»

If it isn't required, an estate could be thrown into turmoil (following the untimely death of a business owner) and, in a worse case scenario, the entire business could be forced to liquidate to satisfy the unpaid business loan.

Term life insurance can be used to fund buy - sell agreements so that on the death of a business owner, surviving partners can use the proceeds to purchase the business from the deceased owner's beneficiaries.

The death of a business owner or partner in a business can also bring the end to the business; life insurance plays a vital part in protecting the integrity of a business if such event were to occur.

The death of a business owner may mean that creditors will demand immediate repayment of loans.

Without proper planning, the premature death of a business owner may result in assets being liquidated, the business being sold, or the business becoming a burden on family members.

If it isn't required, an estate could be thrown into turmoil (following the untimely death of a business owner) and, in a worse case scenario, the entire business could be forced to liquidate to satisfy the unpaid business loan.

Not exact matches

Two business owners in Ferguson, Missouri share their road to recovery, with crowdfunding and loans, following the shooting death of Michael Brown.

Without it, when we get too comfortable, we are bored, which can be the death of motivation and creativity for an ambitious business owner.

The Business: A Romanian restaurant and nightclub Opened: October 1996 Closed: July 1997 Causes of Death: Owners» failure to account for the sensibilities of core customers; a prolonged delay in opening the Business: A Romanian restaurant and nightclub Opened: October 1996 Closed: July 1997 Causes of Death: Owners» failure to account for the sensibilities of core customers; a prolonged delay in opening the businessbusiness

The crucial ingredient in any estate plan is insurance tied to the business owner's death, the death of both the owner and his or her spouse, or other events related to the company's particular situation.

For example, a Heritage Foundation document titled «Time to Repeal Federal Death Taxes: The Nightmare of the American Dream» emphasizes stories that rarely, if ever, happen in real life: «Small - business owners, particularly minority owners, suffer anxious moments wondering whether the businesses they hope to hand down to their children will be destroyed by the death tax bill,... Women whose children are grown struggle to find ways to re-enter the work force without upsetting the family's estate tax avoidance plan.&rDeath Taxes: The Nightmare of the American Dream» emphasizes stories that rarely, if ever, happen in real life: «Small - business owners, particularly minority owners, suffer anxious moments wondering whether the businesses they hope to hand down to their children will be destroyed by the death tax bill,... Women whose children are grown struggle to find ways to re-enter the work force without upsetting the family's estate tax avoidance plan.&rdeath tax bill,... Women whose children are grown struggle to find ways to re-enter the work force without upsetting the family's estate tax avoidance plan.»

All levels of the racing business — breeders, owners, trainers and, particularly, veterinarians and equine scientists — are still feeling the aftershocks of Prairie Bayou's death.

Nothing is certain except death and taxes — and if you're a freelancer or small - business owner, managing the tax - related aspects of your side hustle can be mind - boggling, especially if you come from a corporate employment background.

In the case of business owners wishing to pass the family business on to the kids, you certainly need to plan well in advance of death.

Protect a business against the financial strain that may result from the death of the owner or a key employee

The business value protection rider allows owners to increase the death benefit as the value of the business increases, which may be suitable for buy - sell agreements and key person insurance.

Be aware that this issue can be compounded by the fact that lenders may be highly apprehensive to loan cash during a time as unstable as following the death of a principal business owner.

To protect a business in case of the death of a key employee, key person insurance, payable to the company, provides the owners with the financial flexibility needed to either hire a replacement or work out an alternative arrangement.

If you are involved in a business with a partner, it's possible that you have a buy / sell agreement in which each business owner purchases a life insurance policy on the other owner and then uses the death benefit to buy out the deceased owner's share of the business.

This is a contract among the owners to buy a deceased owner's share of the business at an agreed upon price in the event of death, disability, or retirement.

Whether due to death, advanced age, or illness, the time will come for every business owner to let go of the company.

Survivorship life insurance pays out a death benefit upon the death of the second spouse or business owner.

Life insurance is important for business owners because it can help protect the business from financial loss, liabilities or instability in the case of an owner or business partner's death.

For key person business life insurance, the Salary Increase rider offers owners the ability to increase the death benefit by $ 30,000 increments, up to $ 1,000,000 of additional coverage, with no proof of insurability.

Business Continuation Insurance Life or disability coverage intended to help a business remain operational in the event of the death or disability of aBusiness Continuation Insurance Life or disability coverage intended to help a business remain operational in the event of the death or disability of abusiness remain operational in the event of the death or disability of an owner.

Buy Sell Agreement: An agreement for the transfer of business ownership to the remaining owners at the death or retirement of an owner.

The policy owner needs a death benefit that will continue to increase, for example when insurance is being used as part of a business succession plan.

Key Executive / Person Insurance Life insurance purchased by a business on a valuable employee (or owner - employee) to indemnify the business against the potential financial loss that would result in the event of that individual's death.

However, it is not uncommon to see a buy / sell arrangement that has nothing but funding, meaning that, should one of the business owners die, a life insurance death benefit would be payable to the business (in an entity buy / sell) or the surviving partners (cross-purchase), which can be used to purchase the deceased business owner's shares or interests.

Key man insurance, commonly referred to as key person insurance, is the most effective and efficient tool a business can use to guard against the death or disability of a highly valued employee or business owner.

Your business has several potential solutions to fund a buy - sell agreement in the event of a disability, death or retirement of a business owner.

If you are involved in a business with a partner, it's possible that you have a buy / sell agreement in which each business owner purchases a life insurance policy on the other owner and then uses the death benefit to buy out the deceased owner's share of the business.

Key man insurance commonly referred to as key person insurance or key employee insurance is designed to protect company in the case of an untimely death or disability of a top salesperson, executive or business owner.

Key man insurance, commonly referred to as key person insurance, is essentially life and / or disability insurance purchased by a business on the life of a key employee or business owner to offset financial losses that would arise from his or her death or extended illness.

Employers» Liability is concerned with covering your business against claims made by employees for work - related accidents, injuries or illnesses, while Public Liability Insurance covers businesses against claims from third parties who suffered physical injury or death as a direct result of the business owners» negligence.

Intelligently planned business buy / sell agreements cover the contingencies of voluntary withdrawal, death or the disablement of a business owner.

Buy - sell agreements legally bind business partners or owners into agreeing to purchase each others» shares of the company at a predetermined price in the event of death, disability, or other predetermined qualifying events such as at a predetermined retirement age.

When an owner dies, the surviving owner uses the death benefit to purchase the deceased owner's share of the business.

To protect a business in the event of the death of a key employee, Key Person Insurance, payable to the company provides the owners with the financial flexibility needed to either hire a replacement or replace the financial loss incurred by the business.

Proceeds from an insurance policy can be used to train a successor for a deceased key person or to purchase a business owner's shares in the event of his or her death.

Business owners that want to plan for the successful transition of the company in the event of the death or disability of a shareholder.

Key man insurance, a.k.a. key person insurance or key employee insurance, is coverage that will protect the company or business in the case of an untimely death or disability of a top salesperson, executive or business owner.

If you are a business owner and want to buy a life insurance policy on the key employee which will provide a death benefit until that employees retirement then Return of Premium Term might be a great option since you will just get all your money back if the loss of life didn't occur and your valuable employee retires.

A buy - sell agreement is a legally binding contract which protects the interests of the company's owners and permits the business to continue in the event of the death, disability, or retirement of a business owner.

It will provide a death benefit to the estate or spouse of the deceased business owner and cover the lost revenue or income from the company.

Life insurance can help business continuity in the event of the death of an owner.

In businesses where the death of an owner would lead to the death of the company, this type of life insurance could save the business.

These agreements are crucial for small and closely held companies, as in many cases, the death or disability of a business owner creates a significant financial burden on the business as well as the remaining partners.

For this reason, smart businesses have prearranged agreements called buy sell agreements which include the instructions for what to do in the event of the death of a shareholder or business owner.

Key man insurance, otherwise known as key person or key employee insurance, is coverage which can help protect your company in the case of an untimely death or disability of a top salesperson, executive or business owner.