Pacific Wealth Succession Plan
A Pacific Wealth Succession Plan is a trust arrangement where business partners agree to transfer their portions of business shares to surviving partners in the event of each other’s death.
- The business set-up will make a valuation and purchase life insurance policies on each partner’s life and assign the policies to Trustee absolutely
- Each business partner will transfer his/ her shares to the Trustee
- Trust administration will take effect upon the death of any partner (triggering event)
- Trustee will receive the insurance proceeds and pay to deceased partner’s family and transfer his/ her shares to surviving partners.
- Smooth transfer of deceased partner’s business interest to surviving partners
*Click links for information on our Family Office & Dynasty Perpetual Trust*
