Key person insurance is a form of insurance that protects important or essential leaders of an organization. Executors may encounter this term if settling an estate with business ownership interests. These contracts are taken on key employees and are paid to the company in the event of their passing. Therefore, insurance payments to the company should be considered when determining the estate's share of the business interests.
What you need to know
A probate guide written for people who aren’t lawyers
Probate is notoriously confusing. Small estate affidavits, formal vs. simple administration, executors & executrixes— there’s more than enough jargon to make your head spin. We get it, and that’s why we made a probate guide that actually tells you what you need to know without assuming anything. You’ll walk away with a tangible timeline, actionable next steps and real clarity on what probate actually means for you and your family.
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