After building an initial estate plan, a husband and wife with a $40,000,000 net worth still had a significant amount of assets exposed to taxation. T...
Wealth Transfer Strategy
February 15, 2016
Comprehensive Key Person Strategy with Retirement Incentive
February 10, 2016
A family business worth $70,000,000 was run by CEO who is a non-family member. The CEO’s skill and expertise has helped grow the business and continues to generate year over year increases in revenue and profits. The family was concerned about the impact on the business if the CEO left, became disabled, or died.
Solution: We created a comprehensive plan that:
Cost effectively transferred the liability of the CEO’s salary to an insurance company if the CEO became disabled
Protected the family from financial loss if the CEO died or was unable to perform his duties
Created “golden handcuffs” that compensated the CEO for longevity based on P&L performance