Presentation on theme: "EINTERZ & EINTERZ SEMINAR SERIES. Why Plan for Succession? Making sure our resources outlive us; Leaving an inheritance if possible; Retain control."— Presentation transcript:
Why Plan for Succession? Making sure our resources outlive us; Leaving an inheritance if possible; Retain control as long as possible over as much as possible; Protect critical assets (and people) to ensure continued success of business and proper valuation if necessary…
How Do We Plan? Tools for Planning: Corporate/Company ○ Resolutions ○ Written Plan of Succession ○ Buy/Sell Agreement Individual/Family ○ Will, Trusts ○ Communication
Company Planning Continuity Accurate Asset Identification People? Processes? Location? Valuation of Asset(s) Risk Allocation
Identifying Risks Properly Is Critical and Unique Be sure you are asking the right questions!
Planning for the Individual An estate plan (Last Will and Testament, Living Will, Trusts, Power of Attorney, etc.) directs survivors and heirs how to distribute, handle and account for your assets. Too often, people fail to account for the years, blood, sweat, and tears they have poured into their business, and to properly account for it as an asset in their estate plan.
The Basic Will Taxes and Expenses Identify Family Tangible Personal Property Specific Bequests Residuary Estate Distribution Administration Executor Appointment Trustee, Guardian Appointment