A business owner and father aims to equitably distribute his assets while ensuring the future success of his business. Michael's Story
Michael came to The Advisor Guide seeking the proper way to transfer his business estate to his children in an equitable manner. We extended our strategies while being mindful of conducting fair distribution of assets to all parties involved.
Pain Points
NEED OF THE HOUR
The primary purpose of The Advisor Guide’s work was to ensure the continuation of the business in the hands of Michael’s children. While some of the children were involved in the business, others were not, and The Advisor Guide’s goal was to be mindful of both parties while maintaining a fair and equitable distribution of assets.
Goals and Objectives
ADDRESSING THE CHALLENGES
- Ensure equitable wealth transfer between parties
- Assess private assets
- Ensure the continuation of Michael’s business
How TAG
Helped
OUR SOLUTION
The Advisor Guide’s strategies included an equalization that ensured the continuation of the business with the children who were responsible for its day-to-day functioning. For the children who weren’t involved in the business, the estate planning documentation outlined provisions that would treat them fairly. Overall, The Advisor Guide was able to create a proactive and comprehensive plan that managed to find the best of all worlds.
Outcome
PLAN FOR THE FUTURE
To ensure the continued well-being of Michael’s children and their financial future, The Advisor Guide was able to strategize and implement the right plan in a timely manner. It ensured that Michael’s children would receive equitable treatment and that he could rest easy knowing his affairs had been properly taken care of.