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Pacific WealthSuccession Plan

A wealth succession plan is one of the most crucial components in all business continuity plans. Under the Pacific Wealth Succession Plan, a trust arrangement is developed in which business partners agree to transfer their portions of business shares to surviving partners in the event of the demise of any business partner.

  • Trust administration will take effect upon the triggering event (death of any partner)

  • Smooth transfer of deceased partner’s business interest to surviving partners.

  • Company will make valuation and purchase life insurance policies on each business partner’s life and assign the policies absolutely to the Trustee.

  • Each business partner will transfer his/her shares to the Trustee.

  • The Trustee will receive the insurance proceeds and pay to deceased partner’s family and transfer his/her shares to the surviving partner.

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