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Purchase agreement is a document that allows a company's partners or other shareholders to purchase the interest of a partner. From an estate tax perspective, such a provision may increase the value of the interest in the owner's estate and related estate taxes.The use of life insurance allows full funding of the buysell agreement, using an amount of cash that is less than the full purchase obligation. When using life insurance to fund a buysell agreement, the two common arrangements are crosspurchase and entityowned arrangements. Upon the death of the insured, the insurer is only obligated to pay the death benefit, not the cash value, which it retains. See the forms, schedules, instructions, and publications for the year of the tax return you are amending for guidance on specific topics. Contributions to the purchase and methods for computing income from assets. Most buy-sell planning provides for the purchase of an owner's interest either at death or upon a specified lifetime event. The death benefit from the life insurance policy is used to buy out the deceased partner's or member's interest in the business. When life insurance is used to fund the buysell agreement, the "enti ty purchase vs.
