According to tax law, assets may be rolled over or transferred to a spouse with no immediate tax implications. This is known as a spousal rollover.
A major consideration in structuring a Buy/Sell Agreement for dealing with the potential of the death of a shareholder is ensuring that the remaining shareholders have the financial means to pay for the purchase.
A Buy/Sell Agreement is a vital document that protects you from the confusion and potential for disagreement that can come if something happens to a business partner.