Each partner effects life insurance on his own life in trust for his partners. A separate policy is required for each partner to ensure that each has funds with which to purchase a share of the deceased (or retiring) partner’s part of the business.
The Rantings of the barely human.
Each partner effects life insurance on his own life in trust for his partners. A separate policy is required for each partner to ensure that each has funds with which to purchase a share of the deceased (or retiring) partner’s part of the business.