UNION SQUARE FINANCIAL SERVICES, LLC

As a business matures, it may become evident that there are key people who have made significant contributions to the business, and their value and worth are a striking component in the enterprise’s continued success.  These people are every bit as important to a company as a special piece of equipment, and they need to be protected and rewarded for the contribution they have made.

A key person in the life of a company needs to be protected for the income loss that would result from his/her inability to work due to due to an accident or sickness.  An individual disability insurance policy could provide lost income while the company’s investment in that person could also be protected with key person life insurance.

An executive bonus arrangement can be utilized to provide additional current compensation to a key employee in such a way as to provide an additional benefit not made available to others.

A deferred compensation arrangement can reward a key employee by providing additional compensation at a future date.  These “golden handcuffs” can provide additional incentive to the special person in the life of the company and offer the special recognition that is only provided to a select few.

Buy-sell agreements serve multiple purposes by establishing the value of a business and guaranteeing its purchase, should an unexpected and untimely event affect an owner of the company.  It assures that funds will be available to consummate the sale when called upon and establishes the value of the ownership for estate purposes.