Ensure your company’s business continuity with a buy/sell agreement from Ornellas Insurance (+1-916-804-9888), which serves entrepreneurs in Fair Oaks and beyond.
Change is the only constant, especially when it comes to business. That’s why Ornellas Insurance offers executive benefits with buy/sell agreements.
This is part of the company’s mission to provide crucial financial safety nets to key business personnel. The agency works with leading national insurers that have well-established track records.
Learn more by visiting https://ornellasinsurance.com/executive-benefits/
CEO Helen Ornellas explains that the agency’s buyout agreements serve as a valuable safeguard for co-owners no matter your enterprise. Specifically, they delineate the terms and conditions governing the potential sale or buyout of your partner's interest should they die, become disabled, retire, or leave involuntarily.
According to government data, family-owned enterprises account for about 90% of businesses in America. Furthermore, many companies are formed by a small group of business partners. This mingling of business and personal interests makes determining ownership after a partner passes away not only financially complex but also emotionally fraught.
Buy/sell agreements, which are incorporated into Ornellas Insurance’s executive benefits plans, can prevent disruptions in your business. Under this policy, all parties take out an insurance plan and name the business as the beneficiary. More importantly, each partner’s share is already valued and the insurance payout is equivalent to this amount.
Ornellas adds that the life insurance proceeds facilitate the buyout of a departed owner's share. This financial maneuver ensures that the remaining owners like you have the funds to acquire the interest of the deceased owner from their heirs or estates. In turn, this guarantees that transfer of ownership can occur without causing any financial strain on your business.
Furthermore, the buy/sell agreement offered by Ornellas Insurance can mitigate potential tax implications. This includes considerations for both estate taxes and capital gains taxes.
The agency’s offering is part of its commitment to providing strategic solutions for your businesses, fortifying its resilience in the face of unforeseen challenges. Ornellas says: “For many entrepreneurs, business is personal. That’s why we provide buy/sell agreements so the enterprise they worked so hard to build can continue to thrive even if they are no longer part of it.”
Rest easy knowing ownership will not be an issue should unforeseen events occur. Get in touch with Ornellas Insurance today!
You may visit https://ornellasinsurance.com/executive-benefits/ to learn more about the agency’s executive benefits package.