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One of the the biggest concerns with business partners is what happens if my business partner dies? Will the partners spouse / family generate an income to pay the bills? Will the surviving partners spouse wind up as your new business partner? Or will there be a buy-out agreement in place to avoid getting into a "marriage" with them?
It is common to reference a fixed dollar amount when determining the purchase price of the business. Don't fall into this trap! Review every 1 - 3 yeasr at a minimum.
Business valuations go up and down. Be smart
Serving All of CA: Orange County, Los Angeles, San Diego, Riverside, Sacramento, Etc.
If your business partner passes away, how much will it cost to hire someone to replace them? Let a life insurance policy take care of that for you. Each partner owns a policy on the other. It's easy, fast and low cost.
Work with an expert on our team today!
Most small business owners do NOT want to be partners with their business partners spouse.
Stop procrastinating and contact us today!
Jack Mowers is a true insurance professional. I have had the priviledge of working with Jack over the past 14 years. He is knowledgeable, has great integrity and always puts his clients first. If you are in the market for life, health or other financial services, Jack is your man!
- Jeff S.