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buy sell agreement (1 viewing) (1) Guest
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TOPIC: buy sell agreement
#5408
Ruppus600 (Visitor)

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buy sell agreement 2 Years ago  
If me and my partner want to create a buy sell agreement to fund a buy out at death, should we structure the buy sell agreement so that the company owns life insurance on each of us and the insurance is paid to the company or to the surviving owner? Are there any tax issues for the company or the surviving co-owner
 
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#5417
LK311 (User)
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Re:buy sell agreement 2 Years ago Karma: 0  
Have the proceeds from the life insurance go to the company. That way, when you die, 1/2 of the proceeds go to your estate and the other 1/2 can go to your partner. The life insurance proceeds are tax free regardless of where they go.
 
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#5426
Ruppus600 (Visitor)

Birthdate:
Re:buy sell agreement 2 Years ago  
I will change the beneficiary designation to make the life insurance proceeds payable to the company. Thank you. Are the insurance payments deductible by the corporation? They must be, if the insurance policy is paid to the company. Right?
 
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