Plan & Protect YOUR LEGACY
BENEFITS OF A REVOCABLE LIVING TRUST
The primary purpose of a revocable living trust is to manage and distribute assets during your lifetime and after you die, and keep your assets private without going through probate.
Some of the benefits of a trust are:
- Control and Flexibility: The grantor retains control over the trust assets and can amend or revoke the trust at any time during their lifetime.
- Trustee: The grantor retains control over the trust assets and can amend or revoke the trust at any time during their lifetime.
- Incapacity and Death: If the grantor becomes incapacitated, the successor trustee can manage the trust assets according to the trust’s terms. Upon the grantor’s death, the trust becomes irrevocable, and the successor trustee distributes the assets according to the trust document.
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Services Provides
Estate Planning
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Business Planning
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PREPARATION OF AN ADVANCE CARE DIRECTIVE
Checklist for preparing an Advanced Care Directive:
Living Trust
Preparation of a living trust names and instructs a person, called the trustee, to hold and distribute property and funds on your behalf when you are no longer able to manage your affairs.
Financial Planning
Review your financial situation, including debts, insurance policies, and retirement plans.
Durable power of attorney for finances
Name the person(s) who will make financial decisions for you when you are unable to.
Appoint a health care proxy
A health care proxy can be a spouse, relative or trusted friend to make decisions about your health based on your values and preferences if you are unable to.
Palliative care
Focuses on relieving pain and improving quality of life for individuals with serious illnesses.
DNR (do not resuscitate) Order
A medical directive instructing healthcare providers not to perform CPR, i.e., if your heart stops.
WHY YOU NEED A BUY-SELL AGREEMENT
BENEFITS OF A BUY-SELL AGREEMENT
- Establishes a fair method to value the stock of the departing owner and for estate tax purposes;
- Ensures and protects stakeholders involved in the agreement by defining how ownership transitions are managed;
- Provides funding with safeguards, such as life or disability insurance policy, installment note, cash, sale or distribution/leveraging of company assets;
- Governance or other provisions can be added to ensure continuity of business operations.
COMMON VALUATION METHODOLOGY
- Fixed price – Shareholders agree on fixed price;
- Formula – An asset-based or earnings-based formulate to determine value;
- Independent appraisal – Shareholders agree on the appraisal process when agreement is executed;
- Market approach – Shareholders agree to use comparables of recently sold, similarly situated companies.
TRIGGERING EVENTS
- Death – Are the beneficiaries entitled to the fair market value of the interest? Do the surviving owners want the beneficiaries to be actively involved in the business?
- Divorce – Is the business interest an asset subject to division of property in case of divorce?
- Disability – If an owner becomes disabled, will the business require additional capital? Should the owners purchase the interest?
- Withdrawal – What restrictions should be placed on the interest of a departing owner? Under what circumstances can an owner be forced out?
- Bankruptcy – Will creditors have the right to seize or otherwise encumber the interest of an insolvent owner?
Stories Of Success With CLM Estate Planning
Maria Lopez
Homeowner
Appoint a health care proxy
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Profitable Investments
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James Carter
Investor
Perfect Commercial Space
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Anita Sharma
Entrepreneur
Secure Global Investment
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Michael Brown
Global Client
Thomas Lex
Analyst
Reliable Legal Support
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Lifestyle Upgrade
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David Adam
Landlord
Perfect Commercial Space
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Sophia Rossi
First Time Buyer
Market Clarity
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Elena García
Attorney
Hannah Kim
Designer
Effortless Rental Management
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