A purchase sale agreement determines when and to whom you can sell your share of the business and sets a fair price. How you structure your sales contract will determine who will buy the outgoing owner`s shares, how much the buyer will pay and how the sales contract will be put in place. There are four common redemption structures: Get the help of an experienced certified financial planner with the trust and estate expertise to help you through the tax impact of setting up a properly structured agreement and the many options you can use to fund the agreement. The introduction of life insurance to finance the buyback is the subject of many complex structural considerations, income tax, property, beneficiaries and even family law considerations. Eric Benchetrit is a consultant in the financial and vordener services sector, regarded by his peers as one of the most knowledgeable and competent authorities in his field, and who offers financial advisors, life insurance agents and industry experts in the context of complex tax and estate planning. Eric`s business approach uses a tireless commitment to professionalism and attention to detail using a collaborative and integrated planning style that works with the entire client`s consulting team. His communication style describes complex structures in easy-to-understand terms. For more than a quarter of a century, he has held various positions in the financial services industry, including marketing and distribution at the executive and wholesale levels for Canadian insurance and investment firms. He has also taught Seneca College`s Practical Financial Services Certification Program, whose graduates receive credits for CFP (Certified Financial Planner) and CLU (Chartered Life Underwriter). Over the years, he has participated in numerous conferences at industry events and has also appeared in radio and call programs.
He has written articles and has been cited and profiled in several industry publications. He has been co-chair of Canadian and international delegations, met with the Prime Minister, parliamentarians, members of Congress and senators, and has a Specialized Honours B.A. from York University. He is married and has two children, lives in Thornhill, Ontario, and is a very active member of his community, was recently honoured for his volunteer work and has served on the boards of several non-profit organizations. Conceptual insurance provides term insurance coverage for a given period of time and does not have a cash value component. However, the initial premiums may be lower than comparable permanent insurance. When my wife passed away, I contacted your office and you considered my claim a top priority. You immediately returned my appeal to initiate the application process and provided a clear and concise summary of the documents necessary for the policy to be paid as quickly as possible. You have guided me through every step of the process, and I sincerely thank you for being so available, attentive and polite at such a difficult time in my life.
“If you retire, you may be able to transfer ownership of the policy to your life and take away the policy. This would allow you to designate your own beneficiary for the death benefit and use each accumulated current value to supplement your retirement income, finance a new activity or do what you want,” says Muth. Purchase and sale agreements are intended to help partners deal with potentially difficult situations in order to protect the business and their personal and family interests.