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Grand Rapids, Michigan · Kent County

West Michigan builds businesses that outlive their founders. Sometimes.

Grand Rapids runs on family business — manufacturing, furniture, food, construction — often second or third generation, with the founder’s wealth still concentrated in the company and the buildings it sits in. The estate plan is frequently a handshake and a will from 2009.

CentraLife works with Kent County owners on the insurance layer of continuity: key-person coverage that keeps the bank calm, buy-sell funding so a partner’s death doesn’t force a fire sale, and cash-value designs that build a liquid asset outside the business — because a company is a wonderful thing to own and a terrible thing to be your only asset.

Asked in Grand Rapids

Local questions, straight answers.

A buy-sell agreement says what happens to ownership when a partner dies or exits; funding it with life insurance means the money to execute the buyout appears exactly when it’s needed, income-tax-free under IRC §101(a). If you have partners and no funded agreement, the surviving families end up negotiating under the worst possible circumstances.

Talk to an advisor who works where you live.

  • Free 30-minute assessment — in person or by phone
  • Review of existing policies, 401(k)s, and pensions included
  • Headquartered at 290 Town Center Dr, Dearborn, MI 48126
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