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Collateral Trust Agreement between Partners

One partner appoints a trustee to hold a life insurance policy or policies on the life of the other partner in trust on the partner's behalf.
Upon the death of the insured partner, the partner agrees to purchase the insured partner's interest, using the proceeds from the insurance policy / policies.
The trustee will hold the insurance policy / policies in trust, but the partner will receive all dividends.
The partner will pay the trustee a yearly fee for acting as trustee.
This legal form template is fully editable and can be easily customized to meet your needs.
This is a generic form which does not contain references to the laws of any particular country and can be used in many countries and jurisdictions.

$12.49

The partners agree not to compete with the partnership's business.
The partnership's business will be run by a management committee appointed by the partners.
Each partner has a right of first refusal to acquire the partnership interest of a departing partner.
A partner wishing to withdraw may issue a mandatory shotgun buy-sell notice to the other partners.
Upon the death of a partner, the surviving partner(s) must purchase the interest of the deceased partner, with the buy-out funded by life insurance policies purchased on each of the principals.
If a partner becomes disabled and unable to continue, the remaining partner(s) will have the option to wind up the partnership or buy out the disabled partner's interest.
This legal agreement template is a generic form which can be easily modified to include provisions required by the laws in your area.

$29.99