Good afternoon. We are excited to have you here Good afternoon! We are excited to have you here! If you’re a weekly attendee, thank you for joining us again! If this is your first webinar, welcome! We hope you find this information useful and we look forward to your feedback. We will begin with a quick recap of NetLaw. NetLaw removes the unpleasantness of death and disability planning with world-class technology that combines the nation’s leading estate planning attorneys with an award winning, cloud-based solution.

Step 6: Preserve Your Wealth Premium Estate Planning Package with Probate Avoidance Will (including trusts for children/grandchildren) Probate Avoidance Living Trust (includes a guide for funding your Living Trust) Power of Attorney Medical Power of Attorney Living Will/Advance Directives HIPAA Authorization LifeVault Access to national network of estate planning attorneys Spouse documents included at no additional cost Thank you, Charlsey! Now let’s discuss your partnership with NetLaw.   SMART guide provides interview type input Comprehensive product that generates the essential state compliant documents most needed No hidden fees- one price covers you and your spouse Cloud based LifeVault allows you to update and access documents anywhere anytime Fees:   From there, your client will pay $8 per month beginning in month 13, to maintain the ability to have unlimited changes and document storage. This is an optional fee. The client does not have to continue to pay after the first year if the client does not wish to continue the service. However, the client will still have access to documents in their vault, but will no longer have the ability to make changes or add new documents to the vault. We offer a 60 day grace period. There is no cost to reinstate during the first 60 days after your account is inactive. Between 3 to 6 months, there is a $79 reinstatement fee and then $8 per month thereafter to keep the account active. Over 6 months, there is a $250 reinstatement fee and then $8 per month thereafter to keep the account active.

Step 6: Preserve Your Wealth Irrevocable Life Insurance Trust Change of Owner & Beneficiary Instructions Sample Notice Letters Instructions on Obtaining Tax ID # LifeVault Access to national network of estate planning attorneys Spouse documents included at no additional cost Thank you, Charlsey! Now let’s discuss your partnership with NetLaw.   SMART guide provides interview type input Comprehensive product that generates the essential state compliant documents most needed No hidden fees- one price covers you and your spouse Cloud based LifeVault allows you to update and access documents anywhere anytime Fees:   From there, your client will pay $8 per month beginning in month 13, to maintain the ability to have unlimited changes and document storage. This is an optional fee. The client does not have to continue to pay after the first year if the client does not wish to continue the service. However, the client will still have access to documents in their vault, but will no longer have the ability to make changes or add new documents to the vault. We offer a 60 day grace period. There is no cost to reinstate during the first 60 days after your account is inactive. Between 3 to 6 months, there is a $79 reinstatement fee and then $8 per month thereafter to keep the account active. Over 6 months, there is a $250 reinstatement fee and then $8 per month thereafter to keep the account active.

BUSINESS OWNERS

What keep Business Owners Up At Night? National Federation of Independent Business (NFIB 2016 Report) More Sales *Not legal advice. For informational purposes only.

What keep Business Owners Up At Night? National Federation of Independent Business (NFIB 2016 Report) More Sales #45

What keep Business Owners Up At Night? National Federation of Independent Business (NFIB 2016 Report) More Sales #45 Competition

What keep Business Owners Up At Night? National Federation of Independent Business (NFIB 2016 Report) More Sales #45 Competition #31

What keep Business Owners Up At Night? National Federation of Independent Business (NFIB 2016 Report) More Sales #45 Competition #31 Social Media

What keep Business Owners Up At Night? National Federation of Independent Business (NFIB 2016 Report) More Sales #45 Competition #31 Social Media #64

What keep Business Owners Up At Night? National Federation of Independent Business (NFIB 2016 Report) More Sales #45 Competition #31 Social Media #64 Online Retailers

What keep Business Owners Up At Night? National Federation of Independent Business (NFIB 2016 Report) More Sales #45 Competition #31 Social Media #64 Online Retailers #61

What keep Business Owners Up At Night? National Federation of Independent Business (NFIB 2016 Report) More Sales #45 Competition #31 Social Media #64 Online Retailers #61 Poor Profits

What keep Business Owners Up At Night? National Federation of Independent Business (NFIB 2016 Report) More Sales #45 Competition #31 Social Media #64 Online Retailers #61 Poor Profits #16

What keep Business Owners Up At Night? National Federation of Independent Business (NFIB 2016 Report) More Sales #45 Competition #31 Social Media #64 Online Retailers #61 Poor Profits #16 Cash Flow

What keep Business Owners Up At Night? National Federation of Independent Business (NFIB 2016 Report) More Sales #45 Competition #31 Social Media #64 Online Retailers #61 Poor Profits #16 Cash Flow #25

What keep Business Owners Up At Night? National Federation of Independent Business (NFIB 2016 Report) More Sales #45 Competition #31 Social Media #64 Online Retailers #61 Poor Profits #16 Cash Flow #25 Health Care

What keep Business Owners Up At Night? National Federation of Independent Business (NFIB 2016 Report) More Sales #45 Competition #31 Social Media #64 Online Retailers #61 Poor Profits #16 Cash Flow #25 Health Care #1

What’s not on this list?

Business Succession Planning! What’s not on this list? Business Succession Planning!

Creating a Succession Plan Management succession planning: Development, training, and support of successors Delegation of responsibility and authority to successors Outside directors/advisors to bring objectivity when needed Maximizing retention of key employees through equitable compensation

Creating a Succession Plan Ownership transfer planning: Coordination between who will own the business vs who will manage it Consideration of the best interests of the business and owner’s family Timing of transfer during your lifetime

Minimize Taxes Business interests are part of your federal taxable estate. Rates range from 35% to 50% of the business value Federal Estate Tax is due to be paid to the IRS within 9 months of death Illiquid business assets are often sold to pay taxes; creates a “fire sale”

Minimize Taxes Two IRS tax breaks: Section 303: allows your estate to redeem your stock with very little tax cost This is a one time opportunity Stock value must exceed 35% of your estate Section 6166: offers estate tax deferral for small business owners. More than 35% of your AGE must be from your business interests Allows executor to pay the estate tax in 10 annual installments. Alleviates the burden of a one-lump-sum payment within 9 months of death The first installment isn’t due for 5 years.

Avoid Probate Individually owned business interests are part of your probate estate. Revocable Living Trust: Can own business interests, thereby avoiding probate of the business asset. Irrevocable Life Insurance Trust (ILIT): Can own life insurance that will NOT be included in the decedent’s probate estate nor the taxable estate.

Life Insurance If the business is illiquid, where will the money come from to pay taxes? If the decedent had business partners, where will they find the money to buy-out the deceased partner? Key-man insurance is a common tool to solve these problems. Each partner takes out a policy which names the other owners as beneficiaries. This gives the surviving owners tax-free proceeds to purchase the deceased’s owners interest in the business.

Buy-Sell Agreements A buy-sell agreement is a contract between shareholders or partners which establishes a plan for the business in case one of the owners dies or becomes incapacitated. Establishes a sale price for the business Documents whether or not you want your partners to buy out your share Gives you the ability to “block” individuals from having a role in the company Can direct heirs to sell your interest in the business

NetLaw exists to help people protect their family, their health and their legacy with easy online estate planning. Support@netlawinc.com 1-888-604-4789 cbaumeier@netlawinc.com