SSG Insurance & Financial Services, Inc.

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  • Home
  • About Us
  • Services
    • Personal Services >
      • Life Insurance
      • Long Term Care Insurance
      • Disability Income Insurance
      • Medicare
      • Medical & Dental Insurance
      • Annuities
      • Retirement Planning
      • Estate Planning
      • Identity Theft Protection
      • International Medical Insurance
      • Travel Insurance
      • Critical Illness Plans
    • Corporate Benefits >
      • Group Health, Dental & Vision Insurance
      • Group Life & Disability Insurance
      • Cafeteria Plans (sec. 125)
      • COBRA / HIPAA / Human Resource Services
      • Group Long Term Care Insurance Plans
    • Business Continuity & Planning >
      • Key Person Insurance
      • Business Overhead Insurance
      • Business Buy Sell Agreements
      • Executive Disability Insurance
    • Needs Analysis
  • Companies We Represent
  • Request a Quote
  • Testimonials
  • Contact Us

BUSINESS CONTINUITY & PLANNING​

Key Person Insurance
Business Overhead
Buy/Sell Agreement
Executive Disability

There comes a time when almost every small business owner contemplates the future of his or her business. Because “the business”  typically is a substantial asset, an owner must address a number of estate planning issues that will affect the future stability of the company. A business succession plan is a comprehensive look at the estate planning picture that can include everything from  shareholder buy-sell agreements to management plans and any other documentation that will help ensure the smooth operation of the business.

While traditional estate plans are designed with tax minimization in mind, business succession planning, in addition to such considerations, is aimed at maintaining the future health of the business.
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There is a need to protect family members and executors from the devastating effect of a business owner’s death. If the business is either a proprietorship or partnership, it must cease operation upon the death of an owner or partner. Although a partnership agreement generally will provide for the continuation of the partnership by the surviving owners, it is also important that some provision be made for the acquisition of the deceased in the same interest. A sole proprietorship cannot be continued in the same manner as can a partnership. If proprietor assets are not specifically bequeathed to, say, a child who has been identified as the successor to the decent, they will pass under the general provisions of the will. During the probate process, the executor would be responsible for operating the business, which could result in business losses and lost value. To address this and other potential problems, a business succession plan is critical.
SSG Insurance & Financial Services | License #0E81353
Telephone: (818) 223-9444 | Calabasas, CA
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