Adam and Steve are equal partners of a manufacturing plant. Both have expressed concern that...
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Adam and Steve are equal partners of a manufacturing plant. Both have expressed concern that if either one of them should become permanently disabled the other partner will need to purchase the shares of the disabled partner. What do you recommend? Select one: a. The company should purchase Key Person Disability insurance on Adam and Steve b. Adam and Steve should purchase crisscross life insurance c. The non-disabled partner should borrow the money from the bank to buy out the disabled partner d. Adam and Steve should have their lawyer draw up a Disability Buyout Agreement stipulating when the buyout would occur and that it would be funded by a disability buyout insurance policy
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