1 / 28

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

The Entrepreneurs Guide to Wealth Generation, Wealth Growth , and Wealth Preservation. A special presentation for StartUP Marathon13 By Saeed Tellawi and Thais Amaral Tellawi April 20 th , 2013. Firm Overview.

jaxon
Télécharger la présentation

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

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Entrepreneurs Guide to Wealth Generation, Wealth Growth, and Wealth Preservation A special presentation for StartUP Marathon13 By Saeed Tellawi and Thais Amaral Tellawi April 20th, 2013

  2. Firm Overview • Services for the owners of small, privately held, and family-owned businesses • Personal Estate • Business

  3. Phases of Wealth • Wealth Generation • Wealth Growth • Wealth Preservation

  4. Wealth Generation Getting started.

  5. 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.

  6. Business Formation Package Getting Official • 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

  7. Choice of Entity is Not a Choice Some alternatives Whatever you do, choose something. • DBA is not an entity • General Partnership • Limited Partnership • Corporation • LLC • Series LLC

  8. The Operative Documents Certificate of formation Operating agreement The “rules” of your company. Lays out the agreement between the partners/investors. • Official state filing document. • A small price to pay.

  9. Everything Else EIN & Assumed Name Business Owner package & CCRP Minutes & formalities. 12 months of outsourced legal counsel. • Open a bank account & hire employees. • “Register” with the county.

  10. 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.

  11. 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.

  12. Basic Planning What should one have in place?

  13. 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.

  14. What if you’re incapacitated and can’t make decisions for yourself? Statutory Power of Attorney Medical Power of Attorney Appoints a person to make medical decisions on your behalf. Consenting to a particular treatment or surgery. • Appoints a person to make business decisions on your behalf. • Bank accounts, financial accounts, real property & securities transactions, etc.

  15. Healthcare forms Directive to Physicians HIPAA Release Authorizes a person who can access your medical records. • Designates whether a person would like to be kept alive on life-support if in a terminal or irreversible condition.

  16. Who will care for you & your children if you are unable to do so? Declaration of Guardian for Self Declaration of Guardian for Minor Children Appoints a couple or an individual to care for your children and their estate. • Appoints a person who will care for your person and your estate.

  17. 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”

  18. Wealth Growth The uphill battle.

  19. Now you’re set at home… • Beyond Start-Up • Automation • Standardization • Risk Tolerance / Minimization • Getting Money

  20. Developing “Auto Pilot” • 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

  21. Taking it to the Next Level • Risk & Reward • Tolerance Establishment & Control • Getting Money • Investors • Loans (Including Refi’s)

  22. Wealth Preservation So you want to leave a legacy.

  23. 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.

  24. Do-it-yourself legal documents, just don’t What am I getting?

  25. 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”

  26. 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”

  27. 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”

  28. We didn’t get to your question? Call us at 832.295.0770! Or email us: t@amtell.biz or s@amtell.biz. For more info visit us online: amaraltellawi.com 2519 South Blvd, 2nd Floor, Houston, TX 77098

More Related