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HOME
DWELLING
Dwelling coverage helps pay for damage to the structure itself caused by sudden, accidental events like fire, wind, lightning, falling objects and vandalism.
CONTENTS
Contents covers what’s inside your home. This is everything from furniture and electronics to pots and pans. If these items are lost or destroyed by a covered event, your policy can help pay to replace them.
LIABILITY
The third component of your home policy is liability coverage. It helps protect you from loss in case you’re financially responsible for injury to others or damage to their property. This coverage extends beyond your home and in fact follows you anywhere in the world.
AUTO
LIABILITY
Liability coverage helps pay the cost of injury to others and damage to their property when you’re at fault. This coverage is required by law in nearly all states.
COLLISION
Collision coverage helps cover the cost to repair or replace your own vehicle when you’re at fault. It covers collisions with other vehicles, objects and animals.
COMPREHENSIVE
Comprehensive coverage covers your vehicle for loss caused by things besides a collision. These include theft, vandalism, hail, fire, and animal damage.
BUSINESS:
KEY PERSON EVALUATION:
Profits directly attributable to person’s effort.
Additional compensation necessary to replace.
Recruiting and significant training costs to find or create a replacement.
Lost revenue anticipated
BUY-SELL AGREEMENTS
Provide for transfer of deceased person’s ownership interest.
Establish an agreed-upon method of valuing the interest.
Facilitate the continuation of the business despite the termination of the deceased person’s ownership.
Establish the desired method of financing the ownership interest transfer(s).
Provide an equitable method for terminating the interest of nonparticipating heirs.
BUSINESS CONTINUATION
A death of a general partner dissolves the partnership.
It is seldom practical for the widow(er) or heir to become a member of the reorganized partnership.
To avoid this impasse a Buy-Sell Agreement is important.
A Buy-Sell Agreement obligates the deceased partner’s estate to sell his/her interest to the surviving partners.
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