Buy-Sell Agreement
🕊️ LifeA funded plan (usually with life insurance) for co-owners to buy out a partner’s share if they die or leave. Keeps a business from splintering.
🎓 Agent note Cross-purchase vs entity-purchase changes who owns the policies and the tax basis. Big life sale for business owners — pair it with key person.
This is a friendly general explanation, not legal or policy language. Exact coverage depends on your policy, carrier, and state. 🤝