Sentences with phrase «deceased partner -rcb-»

Upon extensive negotiations in which John played an important role, the partnership dispute was resolved whereby Ludy purchased his deceased partner's half interest in the property.

The ultimate transaction was a transfer of the deceased partner's interest in the property, rather than a transfer of the shares held by the deceased partner's family.

They must also assume the responsibilities that were previously assumed by the deceased partner (Carey, 1979 — 1980; Carr, House, Wortman, Nesse, & Kessler, 2001; Wortman, Kessler, & Umberson, 1992).

If no will is made, the share becomes part of the estate of the deceased partner and the other partner does not have any automatic right to the share.

The cash could be used for business continuation funds to allow a surviving partner to buy out the deceased partner's business interest and pay for possible expenses sparked by that key partner's death.

• The family of the deceased owner receives income from the life insurance death benefit payout while preventing those family members from becoming inadvertent business partners unless those were the wishes of the deceased partner.

the remaining principals would use the death benefit to purchased the shares of the deceased partner or principal from his or her surviving family members or estate.

When a partner dies the other partner receives the $ 500,000 death benefit and through the legal buy / sell document they are bound to buy the deceased partner's share from the widow or family.

When a business partner uses the life insurance benefits to buy out a deceased partner's share of the business in a buy / sell agreement, that's appropriate.

That would provide the funds necessary to formally purchase the partner's interest in the business from the deceased partner's family.

Without the right business life insurance or buy / sell life insurance policy in place, the partnership can remain tricky long after the deceased partner is gone.

Posted in business life insurance, buy / sell life insurance Tagged business insurance, buy / sell agreement, deceased partner, insurance, life insurance, surviving partner

If either business owner passes away, a death benefit will be paid to the surviving business owner who will in - turn pay this money to their deceased partner's surviving family.

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.

When a partner or principal dies, the surviving principals will utilize the death benefit to acquire the shares of the deceased partner or principal from his or her remaining family members or the estate.

Essentially, it enables the remaining partners to buy out the deceased partner's stake in the business.

Advantages of death benefits are tax - free income to the named beneficiaries and provision of Massachusetts business security by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.

If one owner dies, the other can use the life insurance payout to buy out the deceased partner's heirs, pay off outstanding loans or other obligations, or continue operations until a replacement can be found.

First of all your partner and yourself need to have a buy - sell - agreement that would stipulate that in the event of the death of one of the partners the survivor would buy the shares of the deceased partner for a predetermined amount of money.

In the event of the death of one of the partners the share of the deceased partner is of immediate concern.

Provide immediate cash for the survivors of the deceased partner thereby eliminating possible financial problems.

It can be used to buy out a deceased partner's or shareholders stock from the heirs.

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.

With the right insurance in place, the surviving business partners will have enough capital to keep the business going while looking for a replacement for the deceased partner, or to buy out the heirs of the deceased partner.

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.

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.

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.

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 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.

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

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

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

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.

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

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).

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.

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

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 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.

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

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

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.

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.

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.

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.

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.

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

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

Spouses don't need to mourn a deceased partner.