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OASIS – GOLD COAST BUY SELL INSURANCE
When an owner is removed from a business due to death, disablement or illness, often the remaining business partner/s will want to take ownership and control of the whole business, and the removed owner or their family will want money for their share of the business. By putting in place Gold Coast Buy Sell insurance this can provide the money for this transfer to occur. It allows the remaining business partner/s of a business to buy out the removed owner’s interest in the business.
Arranging Gold Coast Buy Sell Insurance and Agreements
If structured correctly your business can pay for the Buy Sell insurance and Agreements and it can be structured so it is a tax deduction. When considering Gold Coast Buy Sell Insurance we must also consider what other personal insurances the business owners have in place. The need to insure the business owners and the key people is a must to allow a smooth business succession. So as part of a good business succession plan what needs to be worked out is:
- How much buy sell insurance should be taken out
- How should the insurance be structured and paid for
- What should the legal agreement look like
This is where you need a qualified and experienced professional in this area from Gold Coast Financial Planning to ensure that the correct Buy Sell insurance, structure and legal agreement are all in place for your business.
Why should Business owners have Gold Coast Buy Sell insurance or Partnership insurance?
Business owners normally insurer their business assets, such as property, plant, equipment and stock, but don’t insurer themselves, or the other business owners and their key people who help make the business run profitably.
What would happen to your business if you or your business partner were to die or become disabled or be struck down with a severe illness? Would your family or estate be paid out the true value of the business? Does your business partner have the money or can they borrow enough to buy out your share from you or your estate?
Some of the areas we service for Gold Coast Buy Sell Insurance are:
Gold Coast Buy sell insurance and a buy sell agreement is a convenient and easy solution for business owners and families to preserve the business and its future by having each party fairly treated and compensated without putting a financial burden on anyone.
Please feel free to have a chat with us here at Oasis Financial Planning for all your Gold Coast Buy Sell Insurance or Gold Coast Partnership insurance needs.