Torian Insurance provides tailored buy-sell agreements to ensure seamless business transitions and protect ownership interests among partners.
At Torian Insurance, we understand the critical importance of safeguarding your business’s future, which is why our buy-sell agreements are an essential component of your business succession planning.
A buy-sell agreement is a legally binding contract tailored to address the smooth transfer of ownership in the event of key occurrences such as the death, disability, retirement, or departure of an owner or partner.
Our expertly designed agreements ensure your company continues to operate seamlessly, preventing unexpected disruptions and maintaining business stability during times of transition.
Our goal is to afford you peace of mind by ensuring your business remains resilient and adaptable in the face of change.
Navigating the intricacies of buy-sell agreements can be challenging, but our specialized knowledge is here to assist you. With decades of experience in facilitating business continuity plans, we're equipped to meet your unique needs.
Torian Insurance will collaborate with you to customize a buy-sell agreement that aligns precisely with your specific business risks and ownership considerations.
Secure your business's stability and appeal by implementing a robust buy-sell agreement, fostering confidence and peace of mind for all stakeholders involved.
You can rest easy with Torian. As independent Insurance agents, we work for YOU, not the insurance companies! Our expert staff has your best interest at heart which means providing the best coverage.
A buy-sell agreement is a legally binding document that outlines how a partner’s share of a business will be reassigned if that partner dies or otherwise leaves the business. It provides a structured process for the transition of ownership to ensure business continuity.
Businesses with multiple owners, including partnerships, corporations, and limited liability companies (LLCs), can benefit from a buy-sell agreement to prepare for unexpected events that could affect ownership and management.
Triggering events often include the death, disability, retirement, or voluntary or involuntary departure of an owner. Other triggers can include bankruptcy, divorce, or a change in the desire or ability of an owner to participate in the business.
Buy-sell agreements typically include a valuation method for determining the fair market value of an owner’s interest. This can be based on formulas, appraisals, or fixed amounts agreed upon by the partners.
Yes, buy-sell agreements can and should be reviewed and updated regularly to reflect changes in the business, ownership structure, and financial circumstances, as well as to accommodate new laws and regulations.
The advantages include ensuring business continuity, providing clear terms to prevent disputes among owners, protecting the financial interests of the business and its owners, and facilitating estate planning.
In a cross-purchase agreement, the remaining owners buy the departing owner’s share, whereas, in a redemption agreement, the business entity itself purchases the ownership interest.
I have used Torian Insurance for personal and business insurance for over 13 years. Their responsiveness and attention to detail each time I’ve needed them, shows how much they genuinely care.
Torian as a insurance broker gives much more than insurance. They look at the important details contained within small print on many different policies/providers that a normal person would miss and ensure you get the correct policy and more importantly have proper coverage in the event of a claim. After the sale is done, they are even better with their customer service attending to your every need. I had occasion to make a claim that an unnamed insurance company tried to deny. Torian stepped in with several resources to represent me in getting the claim paid. With success! Using Torian is like having "a friend on the inside".
3000 E Division St. Evansville, IN 47711 | Phone: (812) 424-5503 | Contact Us
3000 E Division St.
Evansville, IN 47711
Phone: (812) 424-5503
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