You've spent a lifetime accumulating wealth. You may end up giving the government too large a share of your valuable assets.
Business owners have special considerations when planning for the distribution of their estate.
A plan designed to help protect a business from financial losses which can occur with the unexpected death of a person responsible for the company's on-going success. Key person insurance can provide money to hire a replacement and time for that person to get acquainted with the job. It can also cover lost profits during the time of transition. A plan designed to facilitate the orderly transfer of a business when an owner retires, leaves the business, becomes disabled or dies. A life insurance policy may provide the funds for the remaining owners to buy the deceased owner's interest.