Business owners often establish a buy-sell agreement between partners that is funded by life insurance. A buy-sell agreement is created and funded so that, in the unfortunate event of a death of a partner, there is cash available to fund the purchase of the deceased partner’s interest from the partner’s surviving spouse or estate. However, business owners need to know the current fair market value of the business in order to fund the buy-sell agreement with an adequate amount of life insurance. The experts at Mack Business Appraisals, LLC regularly work with business owners and their legal and financial advisors to determine the fair market value of a business for purposes of establishing and funding a buy-sell agreement. We also work with business owners of growing companies to provide updates to the business appraisal (e.g. annually, bi-annually) to ensure that the buy-sell agreement stays properly funded through the purchase of additional life insurance as the value of the business grows.