There are countless factors that impact that ability of your business to flourish or even survive. Among them is the untimely loss of a key owner or employee to death or disability. In either case the business may suffer as it makes the transition to life without the key person. There may be lost revenues or increased cost during the transition period. At Sinclair, Billard Weld we can help you find the appropriate coverage to protect your company in the event that it loses a key person to either death or disability.
When it is a business owner that becomes disabled or dies, considerable strains are often placed upon the family of the shareholder and any remaining shareholders. If not anticipated, these strains may be crippling to your business and to your family. It is important that you address whether or not the business interest of the deceased or disabled individual is to be sold to the remaining shareholders, others or retained by the departing shareholder or his/her family. If it is to be acquired by the remaining shareholders, how is the acquisition to be funded? At Sinclair, Billard Weld we can help you develop an appropriate business succession plan and help find the appropriate life and disability coverage to fund a buy-out of your interest in the business or that of your estate as the case may be.
