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Pivoting from traditional buy-sell agreements to insurance LLCs
A buy-sell plan can be one of the most effective arrangements to help ensure smooth business succession, with the goal of financially protecting the owners' families. Traditional buy-sell agreements can have limitations, particularly when there are multiple owners or when a step-up in basis is an important consideration. An insurance LLC can be a viable alternative — it can eliminate some drawbacks of standard buy-sell agreements and may provide greater flexibility and tax advantages.
To determine if an insurance LLC should be considered, check out our resources:
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