The Entrepreneurs Guide to Wealth Generation, Wealth Growth , and Wealth Preservation

THE ENTREPRENEURS GUIDE TO WEALTH GENERATION, WEALTH GROWTH, AND WEALTH PRESERVATIONA special presentation for StartUP Marathon13By Saeed Tellawi and Thais Amaral TellawiApril 20th, 2013

FIRM OVERVIEW• Services for the owners of small, privately held, and

family-owned businesses• Personal Estate• Business

PHASES OF WEALTH• Wealth Generation• Wealth Growth• Wealth Preservation

WEALTH GENERATIONGetting started.

STARTING A BUSINESS• Top 5 Lessons Learned

• 1. Get official.• 2. Know your business.• 3. Market intelligently.• 4. Get professional help.• 5. Plan your exit strategy from day 1.

BUSINESS FORMATION PACKAGE

• Choice of entity advice• Entity Formation• Operating Agreements / Bylaws• Federal Employer Identification Number• Assumed Name Filing• Amaral Tellawi’s Business Owner Package• 12 Months of Corporate Counsel Retainer Program

Getting Official

CHOICE OF ENTITY IS NOT A CHOICE

Some alternatives• DBA is not an entity• General Partnership• Limited Partnership• Corporation• LLC• Series LLC

Whatever you do, choose something.

THE OPERATIVE DOCUMENTS

Certificate of formation• Official state filing

document.• A small price to pay.

Operating agreement• The “rules” of your

company.• Lays out the agreement

between the partners/investors.

EVERYTHING ELSE

EIN & Assumed Name• Open a bank account &

hire employees.• “Register” with the

county.

Business Owner package & CCRP

• Minutes & formalities.• 12 months of outsourced

legal counsel.

MARILYN MONROE

• Died at age 36.  • 75% of her estate to her acting coach, Lee Strasberg.• Included her licensing and royalty fees. • Annual income from use of her image: over

$1,000,000.• She included “wishes” that it be later be donated to

charity.

MARILYN MONROE

• Lee died in 1982 leaving his estate to his widow, Anna.• Marilyn never knew Anna! • After Lee’s death Anna was named primary beneficiary

and administrator of Marilyn’s estate.• Fun Fact: Burial plot directly above Marilyn’s sold for

$4.6Million back in 2009.

BASIC PLANNINGWhat should one have in place?

BASIC PLANNING

Last Will and Testament• Distributes your assets

after death.• Appoints a person who will

manage your last affairs.• Appoints guardian for minor

children, if any.

WHAT IF YOU’RE INCAPACITATED AND CAN’T MAKE DECISIONS FOR

YOURSELF?

Statutory Power of Attorney

• Appoints a person to make business decisions on your behalf.

• Bank accounts, financial accounts, real property & securities transactions, etc.

Medical Power of Attorney

• Appoints a person to make medical decisions on your behalf.

• Consenting to a particular treatment or surgery.

HEALTHCARE FORMS

Directive to Physicians• Designates whether a

person would like to be kept alive on life-support if in a terminal or irreversible condition.

HIPAA Release• Authorizes a person who

can access your medical records.

WHO WILL CARE FOR YOU & YOUR CHILDREN IF YOU ARE UNABLE TO

DO SO?

Declaration of Guardian for Self

• Appoints a person who will care for your person and your estate.

Declaration of Guardian for Minor Children• Appoints a couple or an

individual to care for your children and their estate.

UNMARRIED COUPLES: WHAT THEY DON’T GET

• No unlimited marital deduction• No rollover of retirement benefits• No automatic hospital access• No intestacy protections• No automatic revocation of estate planning

provisions upon “divorce”

WEALTH GROWTHThe uphill battle.

Beyond Start-Up Automation Standardization Risk Tolerance / Minimization Getting Money

Now you’re set at home…

Automation & Standardization It’s called an “organization” for a reason All components toward one goal Communication Data collection Analysis Change / Action Automation & Standardization All without you

Developing “Auto Pilot”

Risk & Reward Tolerance Establishment & Control Getting Money

Investors Loans (Including Refi’s)

Taking it to the Next Level

WEALTH PRESERVATIONSo you want to leave a legacy.

GENERALLY

• Plan your exit from day 1.• Business Succession Planning (Buy/Sell)

• Make yourself a dispensable part of your business.

• Keep your estate plan current.

DO-IT-YOURSELF LEGAL DOCUMENTS, JUST DON’T

What am I getting?

BIG DISCLAIMERSNO LEGAL ADVICE

• Website “is not a law firm”

• Website “does not practice law or give legal advice”

• “Employees are not acting attorneys”

• “Not a substitute for the advice of an attorney”

• “You are representing yourself”

BIG DISCLAIMERSNO GUARANTEES

• Info on this website is “not legal advice and is not guaranteed to be correct, complete or up-to-date”

• “May include inaccuracies”

BIG DISCLAIMERSYOU’RE ON YOUR OWN

• Advice received “should not be relied on for personal, medical, legal or financial decisions”

• “Your use of the site is at your own risk”

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