Medical insurance for family of 4 with no pre existing conditions
#16
DE-UK-NZ-IE-US... the TYP
Joined: Mar 2010
Posts: 2,848
Re: Medical insurance for family of 4 with no pre existing conditions
It’s got nothing to do with trust.... if you ever want the chance of an exit you should set things up properly from day 1. To be honest it could be a smart move by the UBO, if anything goes wrong it can all be put on you and they can sue for mismanagement, if they had the normal oversight as as a voting shareholder they would have less recourse as they had a mechanism and responsibly form oversight. But everyone to their own, I don’t understand the logic of giving a non majority owner voting control, unless it’s like WeWork or something and the other shareholders want the main UBO to not have control.
The analogy of what your saying is why bother having a co pilot set next to the pilot when you trust him to fly the plane... things can go wrong from external factors trust or not...
or another example is a pre-nup, no need for it unless something goes wrong?
Is there a good reason for needing to concentrate all the power with a single “key man” ?
The analogy of what your saying is why bother having a co pilot set next to the pilot when you trust him to fly the plane... things can go wrong from external factors trust or not...
or another example is a pre-nup, no need for it unless something goes wrong?
Is there a good reason for needing to concentrate all the power with a single “key man” ?
Last edited by tht; Nov 18th 2019 at 4:41 am.
#17
DE-UK-NZ-IE-US... the TYP
Joined: Mar 2010
Posts: 2,848
Re: Medical insurance for family of 4 with no pre existing conditions
you realize that as a shareholder you are paid K1 not W2, which changes a lot of the setup for benefits and may cause issues if you plan to have a 401k, which is a very tax efficient way to invest pre-tax $ for retirement.
#18
Forum Regular
Thread Starter
Joined: May 2018
Posts: 233
Re: Medical insurance for family of 4 with no pre existing conditions
At no point did anyone mention a K1 which having now searched the net since you mentioned it, i'm surprised. I'm now looking into why this hasn't been bought up.
Thanks again
#19
Forum Regular
Thread Starter
Joined: May 2018
Posts: 233
Re: Medical insurance for family of 4 with no pre existing conditions
At no point did anyone mention a K1 which having now searched the net since you mentioned it, i'm surprised. I'm now looking into why this hasn't been bought up.
Thanks again