Leading agency Ornellas Insurance (+1-916-804-9888) launches the latest addition to its comprehensive executive benefits for financial planners and other professionals — buy/sell agreements.
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This development is part of the company’s mission to provide crucial financial safety nets to key business personnel. The agency works with leading national insurers.
More information about Ornellas Insurance is available at https://ornellasinsurance.com/executive-benefits/
CEO Helen Ornellas explains that the agency’s newly announced buyout agreements serve as a valuable safeguard for co-owners of any enterprise. Specifically, they delineate the terms and conditions governing the potential sale or buyout of a partner's interest should they die, become disabled, or leave involuntarily.
According to government data, family-owned enterprises account for about 90% of businesses in America. Furthermore, many companies are formed by a small group of business partners. This mingling of business and personal interests makes determining ownership after a partner passes away not only financially complex but also emotionally fraught.
Buy/sell agreements, which are incorporated into Ornellas Insurance’s executive benefits plans, can prevent business disruptions. Under this policy, all parties take out an insurance plan and name the business as the beneficiary. More importantly, each partner’s share is already valued and the insurance payout is equivalent to this amount.
Ornellas adds that the life insurance proceeds facilitate the buyout of the departed owner's share. This financial maneuver ensures that the remaining owners have the funds to acquire the interest of the deceased owner from their heirs or estates. In turn, this guarantees that transfer of ownership can occur without causing any financial strain on the business.
Furthermore, the buy/sell agreement offered by Ornellas Insurance can mitigate potential tax implications. This includes considerations for both estate taxes and capital gains taxes.
The agency’s offering is part of its commitment to providing strategic solutions for businesses, fortifying their resilience in the face of unforeseen challenges. Ornellas says: “For many entrepreneurs, business is personal. That’s why we provide buy/sell agreements so the enterprise they worked so hard to build can continue to thrive even if they are no longer part of it.”
Interested parties may visit https://ornellasinsurance.com/executive-benefits/ to learn more about the agency’s executive benefits package.
Contact Info:
Name: Helen Ornellas
Email: Send Email
Organization: Ornellas Insurance
Address: 239 W. Court Street Bldg. B , Woodland, CA 95695, United States
Website: https://ornellasinsurance.com/executive-benefits/
Source: PressCable
Release ID: 89114973
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