Sole Proprietor Buy-sell Plans May 2026

: The buyer agrees to purchase the business from the owner's estate at a predetermined price or formula upon a "triggering event" (usually death or permanent disability).

An effective agreement should be drafted by legal professionals and include: Funding a Buy-Sell Agreement with Life Insurance sole proprietor buy-sell plans

Life insurance ensures the buyer has the funds to fulfill their legal obligation to purchase the business. : The buyer agrees to purchase the business