If you own a small business, then your estate plan should include provisions for the transfer or continuation of the business after the death or disability.
If you have one or more business partners, you might want to get a life insurance policy on each pair, with the company as a receiver, so that the funds available for the surviving partner to buy shares of the company surviving the deceased of his heirs. You can hire Mesa estate planning lawyer for acquiring more knowledge about estate planning.
The lender may actually require companies to obtain a "key employee" life insurance policy on each partner or other irreplaceable employee, as a condition prior to extending credit to the company.
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In addition to life insurance, the company must enter into a "buy-sell agreement" with each partner. This is an agreement in which the surviving partners agreed to purchase the interests of each spouse of the deceased, of the surviving heirs of the deceased partner. A buy-sell agreement can also be used to purchase shares in one of the partner companies in the event of disability that couples or retired.
Another way to transfer the business including placing the business in a co-ownership right now, such as issuing shares to a spouse or child's life. You can transfer the voting rights of shares to heirs who will operate the business, and the non-voting shares to the beneficiaries who will receive part of the profits, without engaging in business operations.