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...le avenues that might benefit the estate's interests. Failure to do so might p...tion, and some lawyers specialize in estate planning and have advanced degrees...

... and management in the event of your death or total disability, and commit this to writing in a stand-by agreement. The last thing a spouse who has not been active in the business is going to need at the time of your demise is to have to worry about the agency. And you're doing your heirs a real disservice if the executor has to sell the agency at unfavorable terms to pay estate taxes based on some arbitrary value that the IRS has assigned. A buy-sell agreement should cover the disposition of the ownership interest in the event of death, disability, normal retirement, and termination of employment before retirement. Many attorneys also recommend that a divorce provision be included, particularly in community property states. In firms with multiple owners, most agreements call for the stock to be sold at ... or a key employee to agree to take over the ownership and management in the event of your death or total disability, and commit this to writing in a stand-by agreement. The last thing a spouse who has not been active in the business is going to need at the time of your demise is to have to worry about the agency. And you're doing your heirs a real disservice if the executor has to sell the agency at unfavorable terms to pay estate taxes based on some arbitrary value that the IRS has assigned. A buy-sell agreement should cover the disposition of the ownership interest in the event of death, disability, normal retirement, and termination of employment before retirement. Many attorneys also recommend that a divorce provision be included, particularly in community property states. In firms with multiple owners ...

...Compensation to [Employee] or his estate for the remaining initial term hereof...death shall be paid promptly to his executors, administrators, heirs, personal...