Buy/Sell Agreements

[joshril]

I am working on the life insurance portion of a buy/sell agreement for an old family friend of mine. This is going to turn into a rather profitable case as the business is valued at over $10,000,000.

Does anyone actively market funding for buy/sell agreements? How do you go about doing it? Working with attorneys, etc.?

Any input would be appreciated.

 

[moonlightandmargaritas]

I am working on the life insurance portion of a buy/sell agreement for an old family friend of mine. This is going to turn into a rather profitable case as the business is valued at over $10,000,000.

Does anyone actively market funding for buy/sell agreements? How do you go about doing it? Working with attorneys, etc.?

Any input would be appreciated.

If you don't know the difference between a cross-purchase, and the entity method (and when to use each), you're in way, way over your head. It's "valued" at $10,000,000? By whom? Using what method?

Have you considered the "step-up in basis" angle?

It's all good working with an estate planning attorney - until he brings in the guy from Guardian or Northwestern Mutual that he works with.

Be smart. Know what you don't know. Split it with someone that knows what they're doing.

 

[joshril]

If you don't know the difference between a cross-purchase, and the entity method (and when to use each), you're in way, way over your head. It's "valued" at $10,000,000? By whom? Using what method?

Have you considered the "step-up in basis" angle?

It's all good working with an estate planning attorney - until he brings in the guy from Guardian or Northwestern Mutual that he works with.

Be smart. Know what you don't know. Split it with someone that knows what they're doing.

I didn't ask for advice on this case... I never even brought up a cross-purchase or entity method on my original post? Why do you make the assumption this case isn't being handled correctly?

This is currently being split with someone that has over 20 years in the business dealing with these types of cases. I was merely opening up the question to get sales ideas for generating additional business.

I typically put up with your ****, but you sure like to stroke your own ego. If you can't add value to my threads, I'd appreciate if you ignored them...

In addition, I feel very comfortable with the process and have done some smaller buy/sells on my own, but I've never actively prospected for this type of business. It's always just kind of fallen in my lap.

If I didn't make it clear in my first post, I'm interested in ideas for generating leads to handle these types of insurance needs. I'm not looking for advice or negative comments on how to structure a case.

 

[Insurance Salesman]

I didn't ask for advice on this case... I never even brought up a cross-purchase or entity method on my original post? Why do you make the assumption this case isn't being handled correctly?

This is currently being split with someone that has over 20 years in the business dealing with these types of cases. I was merely opening up the question to get sales ideas for generating additional business.

I typically put up with your ****, but you sure like to stroke your own ego. If you can't add value to my threads, I'd appreciate if you ignored them...

Son, you have to admit that you asked how to do this case. He gave you a great idea. If you are splitting the case with a 20 year vet, why are you even asking how to do it?

 

[joshril]

Son, you have to admit that you asked how to do this case. He gave you a great idea. If you are splitting the case with a 20 year vet, why are you even asking how to do it?

Maybe I didn't phrase the original post correctly... See the above post. I never asked for help on THIS case... Only seeking marketing ideas.

Buy/sells have always been an afterthought, but I've enjoyed working on the last few that I've done.

PS... Don't call me son... It seems you're trying to make friends after the awful stuff you said about John P... you're welcome to ignore my posts as well.

 

[moonlightandmargaritas]

Any input would be appreciated.

I didn't ask for advice on this case...

Boy, I can't imagine how I was confused....

 

[joshril]

Boy, I can't imagine how I was confused....

The input statement was following my question on if anyone is actively MARKETING for these types of sales...

I never gave any information about the case, nor did I request advice on THIS case...
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Young man, unlike some folks, I don't need the internet to make friends. If I make some, that's great. I'm looking forward to how this thread develops, as this type of work is more to me than most and I can't wait to hear that you have gotten ink on paper and the policy/ies are in force.

Proving to you or anyone else that this case is in force is not my concern. I'm not looking for a Pepsi challenge here, although anytime someone posts it turns into a damn pissing match. Your tone is demeaning and I'm still shocked you aren't banned from this forum!

Jesus... I don't know why I even post on here... I ask for marketing advice and open a thread up that could be beneficial to other agents and just get smart ass BS...

 

[Guest]

Does anyone actively market...How do you go about doing it?

Quite simply, that was the gist of Joshril's question: asking about MARKETING.

Anyways, Joshril, seems like I remember reading posts by a poster who has apparently not been around in awhile (Tennessean?): Cold walking using the 5-way (buy-sell falling under #1 and #2) and whatever marketing permutations might be derived from that strategy.

 

[joshril]

Taking up for Joshril, that was the gist of his question: asking about MARKETING.

Anyways, Joshril, seems like I remember reading posts by a poster who has apparently not been around in awhile (Tennessean?): Cold walking using the 5-way (buy-sell falling under #1 and #2).

Thanks! I'll do some searches... I think I remember seeing that thread a few months back.

 

[bluemarlin08]

I don't know how you want someone to respond, but I do quite a bit of buy sell work. One of the things to keep in mind when working this size case is the estate consequences. We often use indirect funding, using less than market value for the agreement and finding the difference in an estate tax efficient manner. Large cases like this have lots of twists and turns before they ever close.