Minority Share-Holder’s Equity Protected After Unexpected Passing Of Partner
Family And Business Relationships Preserved, Income Needs Addressed
The Client Situation
Fred is a 62-year old entrepreneur who is now facing a very difficult situation that puts his net-worth at tremendous risk. Fred is the minority share-holder in a steel manufacturing business that comprises the majority of his net worth. While Fred has a healthy investment portfolio, it pales in comparison to the value of his equity in the company.
The steel manufacturing business is worth more than 50 million dollars and it has provided a very comfortable living for Fred and his family for over two decades. However, the majority share holder in the firm, Steven, recently passed away, very unexpectedly.
Steven was far more than a business partner to Fred. When Fred was just out of college, Steven became his mentor and saw some things in Fred that he didn’t see in himself. Steven believed in Fred and taught him a great deal about business. Steven even offered Fred a minority share when they opened the steel manufacturing business together.
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