Consider this your 101 on the role and basic components of a buy-sell agreement. This overview discusses forms of arrangements including a cross purchase plan, entity purchase plan and wait and see plan. You'll also learn about valuation, restrictions, transfers and more.

Business-owner clients seek your advice on a wide range of issues including buy-sell, key person protection, employee retention, and exit/succession planning. If these issues lie outside your core areas of expertise, this worksheet will help you spark meaningful conversations.

It's possible to avoid the taxation of employer-owned life insurance. The general rule is that death benefits paid from a life insurance policy subject to IRC Sec. 101(j) are taxable when received. In order to avoid taxation, clients must qualify for one of several exceptions.

A company that routinely bids for large contracts needs to maintain a large pool of working capital, usually held in conservative assets. The cash value of life insurance can be counted as liquid working capital for bond underwriting and while providing a better return.

Like all high-income earners, highly paid employees of non-profits reach a point where they'd prefer to defer some of their current taxable income. In the summer of 2016, football coach Jim Harbaugh struck a split-dollar plan with the University of Michigan that's become legendary.

Business partners often own term life insurance policies on each other to fund a buy-sell agreement. They figure the buy-sell need is temporary and will go away once either partner retires, but there are problems that can be avoided by each partner owning their own policy.

Principal is a leader in the business-owner planning arena, helping owners secure their financial future. It starts with knowing what their business is worth — and the validity of existing buy-sell agreements. This RFP will help clients work it out.