HOW TO PROTECT YOUR MLM BUSINESS
She could accomplish all her goals through her trust because it would avoid probate and reduce the time delay, allowing everything to go to her two boys. The process would be simple with the least possible loss of time and value. She had her company set up in a limited liability company, or LLC. She had done this to get the tax protection and other advantages from having her own company.
That LLC, her company, remained in trust to her two sons. When she died just a short time later, her sons wished to complete the process of transferring the assets. Everything went smoothly because the instructions were followed to the letter. Her trust was written out so that it would allow the company to transfer. The process was administered properly so that the two boys inherited the company and went their separate ways.
The experience went through so smoothly that I would like to remind other multilevel marketers that they can do the same thing with a little advance planning. After all, nobody knows when they are going to die. If the trust is in place, the business can be transferred to the heirs with the least possible loss in value. It’s a wonderful thing to do.
So, if you have an MLM or network marketing business, run that business from an LLC. Make sure your LLC is owned by your trust. That way everything will transfer quickly and easily.
Copyright 2012 Clint W. Smith, P.C. – All Rights Reserved
This article is available for reprint within ezines, websites and blogs. Kindly include the following resource box and notify the publisher when you publish the article.
Discover the Secrets of Wealth Preservation as expert estate planning attorney, Steven W. Allen, reveals the proven estate protecting strategies that have been used by the wealthy for centuries. Visit www.EstatePlanningDr.com now for more tips and tools to protect your estate from taxes and probate.