An often over-looked part of a business owners success strategy is the Estate plan. Nothing can cause more disarray than failing to properly pass your business interests on as you intend – either to your partners, your family or a combination thereof. We can help you sort through the details to resolve this “hole” in your strategy and create piece of mind for both you, your partners and loved one.
Case Study: Two long time partners came to us with concerns over passing the business interests on to each other in the event of one partner’s untimely passing. Each was also concerned with making sure their loved ones would be compensated for the value of the business owned by the deceased partner. After explaining the conflict of interests and obtaining a written waiver, we drafted Estate plans for each partner and amended the partnership agreement to plan for a smooth transition when one of the partners passed. Using insurance policies, we ensure that the families of each partner would be protected and the Company would have sufficient capital to pay the acquisition price to the deceased partner’s family.