Family Corporate / Business Succession
Designed primarily for taxable estates, and clients who are charitably inclined or who have beneficiaries with special needs, likely to qualify for or already receiving government benefits. Also provides considerable advantages over PTP, including long-term guidance or control over retirement asset disposition, creditor and divorce protection, and is the plan for business owners who wish to continue their business through succession planning. Ancillary documents typically include incorporation documents, buy-sell agreements, deferred compensation/non-compete agreements and funding, key-person agreements, irrevocable life insurance trusts, purchase agreements, and the like. This plan will be customized for your specific situation, so it will be priced according to your needs and wishes.
Documents associated with this plan include all PTP documents above, and various other documents to address Client’s specific goals and wishes.
> Additional stand alone trusts to accomplish sophisticated planning objectives, including:
· Beneficiary-Trusteed Sub-Trust(s) vs. Outright Distributions in PTP RLT.
· Charitable
· Wealth Replacement/Life Insurance Trust (ILIT)
· Supplementary (others) and Special Needs (self)
· Business Continuation and Succession Planning (buy-sell and transfer of corporate interests)
· Legacy Protection and Heritage Maintenance
o IRA Stand Alone Heritage Trust
o Family Bank Trust
o Dynasty Trust (subject to state law restrictions)