As you plan for the perpetuation of your business, you may want to plan to provide for all your children – both those involved in your business as well as those family members who are not.
A business owner can use life insurance to provide the children who are not involved in the business with “equitable” treatment.”
Leaving the business to the active children and life insurance to the inactive children equalizes the inheritances among them. In addition, it avoids the need for the active children to purchase the interests of the inactive children – perhaps at a time when the business may be unable to afford it.
Ask one of the qualified representatives at the NAUGHT-NAUGHT AGENCY to provide you with a customized plan. You may call your representative or simply phone us at 800-392-0423.