Sentences with phrase «deceased partner»

Business succession planning is therefore a way to provide liquidity so that the surviving partners or the company itself can facilitate a buyout of deceased partner's interest.

To put it another way deceased partners shares would be bought by the surviving partners as per the buy - sell agreement.

The distinction is that, for business succession planning, life insurance is purchased to insure surviving business partners against the loss of a business deceased partner.

Business succession planning is therefore a way to provide liquidity so that the surviving partners or the company itself can facilitate a buyout of deceased partner's interest.

The distinction is that, for business succession planning, life insurance is purchased to insure surviving business partners against the loss of a business deceased partner.

My mother is involved in a dispute with her recently deceased partners daughter, who is demanding to see records of the joint bank account she held with her partner.

On the maturity of the policy Insurance company / bank a / c... Dr To partner's capital a / c (individually)-LCB- including the a / c of representative of deceased partner -RCB- 2.

This agreement provides for the purchase of the deceased partner's share of the business at a prearranged price.

It is an asset that may be transferred by law to someone (such as a deceased partner's heirs, or to the partner's ex-spouse in a divorce proceeding) that you don't want to be partners with.

Until now, widowed parents would receive a tax - free lump sum of # 2,000, followed by # 113.70 a week, depending on the National Insurance contributions paid by their deceased partner.

But one 2015 paper in Human Reproduction reported on four women undergoing IVF using sperm from their deceased partners, all of whom eventually got pregnant.

Spouses don't need to mourn a deceased partner.

A key challenge when dating again is idealising our deceased partner and the relationship we had with them.

A key challenge when dating again is idealizing our deceased partner and the relationship we had with them.

Kudos to Roos for giving Lisa Kudrow the best screen role of her career as Lucia, the sister of Bill's deceased partner, and the acerbic conscience of a perfectly dysfunctional modern anti-romantic comedy.

When only one of them is left, it'll summon its deceased partners as ghosts so avoid their swinging attack and bombs that they throw.

The goal of business succession planning is to lay out the entire transaction in a clear buy - sell agreement, (aka buy - sell insurance), typically in the form of a cross-purchase agreement, so that the partners and the estate of the deceased partner has both the guidance and funds to facilitate the buyout with minimal drama.

Term life insurance allows the surviving partner to buy the shares from the family members of his deceased partner, who want no part of the business and will be happy to be bought out.

The agreements are typically funded with life insurance policies, so that the funds will be available to buy out the deceased partner's interest from his or her survivors.

Clinical perspective aside, it was inspiring to read about David's developing relationship with the animal companions left to his care as a means of preserving the memory of his deceased partner.

For some artists, the action of eating itself holds significant to their works, such as feminist artist Judy Chicago's installation The Dinner Party (1974 — 1979), and the piles of candy in Felix Gonzalez - Torres» Untitled (Portrait of Ross in L.A.)(1991), which symbolized his deceased partner and brought attention to the AIDS crisis.

Social Security benefits could also increase, as right now a same - sex surviving spouse isn't entitled to the same money if their deceased partner was a higher earner, which is true for opposite - sex couples.

Historically the law did not recognize the claim of a common - law spouse against the estate of their deceased partner.

In such circumstances, the surviving partner could make a claim to the court for reasonable financial provision from the deceased partner's estate.

Was it for the benefit of those remaining within the firm, so that they had some money coming in to compensate them for the loss of their deceased partner's fee earning etc; or was it to enable them to pay off the deceased partner's capital?

The appeal decision in Martin was to award the claimant a life interest in her deceased partner's share of their property, meaning the claimant could remain living there for the rest of her life, after which half the capital value would pass to the estranged wife.

The breach was discovered by an individual who found the ePHI of the individual's deceased partner (and a former patient at New York — Presbyterian) on the Internet and made a complaint to the hospital.

The usual agreement is that the surviving partner (s) agrees to buy out the deceased partner's shares.

This money can help replace the income of the deceased partner and will help the survivor transition into a new lifestyle without undue financial hardship.

In the case of small businesses, if one partner dies, the death benefit proceeds from the decreasing term policy can help to fund continuing operations or retire the percentage of the remaining debt for which the deceased partner is responsible.

Death benefit of the insurance is then used to pay the deceased partner's estate and transfer ownership.

BUY - SELL PROTECTION The death of a business partner (shareholder) may result in your company being sold in order to compensate the family of the deceased partner (shareholder).

The policy allows the remaining partner (s) to buy out the deceased partner's interests at a pre-negotiated price.

Entity - Type Plan — In the event that several partners exist, an entity - type plan is often used to simplify the process where the business itself will buy out the deceased partner or owner's share in the company.

Each partner buys a share of the deceased partner's interest and is considered the beneficiary of the other partner (s).

Will the heirs of the deceased partner (s) / shareholder (s) exercise their right to vote, elect directors and demand financial information?

Can provide business security by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.

This insurance allows the surviving business partner to get the necessary funding to buy out the other partner's share of the business from the deceased partners family.

It allows the remaining owners of the company to purchase the deceased partner's percentage of the business.

It can eliminate the uncertainty or stress when the surviving beneficiary or spouse has control over the deceased partner's interest when they may not have the ability to manage the business or want to.

In this situation, the last thing any business person wants is to have a deceased partner's spouse or family as their new business partner.

It provides instant liquidity to buy - out a deceased partner or shareholder's interest while allowing for the surviving partner to maintain control of the company.

Your policy can help provide security for your business security as well, by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.

That coupled with the fact that most businesses and the associated value to a deceased partner's family change over time makes the need or at least the size of the need a temporary situation.

The agreement should have stated prior to death that the deceased partners shares would go to the surviving partners but that the heirs of the deceased partner would be compensated for 100 % of the value of his or her shares.

Your policy can help provide security for your business as well, by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.