Why Matt Damon Needs a Trust, Jason Bourne Does Not

Everyone enjoys watching movies. It’s something that really brings people together while they share the story of the characters on screen; I love it.

The other day, I was going through my movies and found the Bourne Series. If you are unfamiliar with Jason Bourne AND you enjoy great films, I strongly suggest this series. Bourne is one of the only individuals whom I can recall who would not benefit from estate planning, as he is a vagabond with no assets save for the clothes on his back and no objective in life but to right the injustices the world places before him. If you closely identify with Bourne, this article is not directed at you. But if you’re like his real-life actor Matt Damon, with a family and assets, do you need to consider establishing a trust?

It is a common misconception that trusts are only for the wealthy. Trusts are legal mechanisms which allow anyone to put conditions on the distribution of trust assets (those assets owned by the trust) upon death. This use for a trust exists in a vast majority of the estate plans we help create, regardless of the testator’s wealth.

Like estate planning, the purpose of a trust is to emphasize the planning aspect and allow the grantor precise control over his or her estate after death. We are especially fond of testamentary trusts to help plan for any contingencies which may arise.

In the next blog, we’ll explore the different types of trusts, but in the meantime if you, or someone you know, have any questions regarding estate planning please feel free to contact the Kreamer Law Firm, P.C. at http://kreamerlaw.com/  or by calling 515-727-0900.

Giving Away Information

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Businesses really have only two choices: they can grow (through formation or purchases) or go away (mostly by sale).  Those are the two things I spoke about during a recent Lunch and Learn presented for the West Des Moines Chamber of Commerce. If you would like to access the PowerPoint I used, click this link:Chamber Luncheon Final

Here are the high points of what we discussed:

  • Identifying an Opportunity;
  • How to Avoid Pitfalls;
  • What the Buying/Selling Process Looks Like;
  • Pricing the Transaction;
  • Structuring the Transaction.

Following the formal presentation I took questions from the attendees. The one item that stands out was a question about the size of transactions I normally worked on. I responded that in my 30+ years I have worked on transactions ranging from start-ups all the way through the sale of a $45,000,000 company, but the most important transaction is whatever my client(s) need to accomplish.

However, the best question came as I was packing up to leave.  An attendee came to me and asked, “Why is it that you simply gave us all of this information free of charge?” My answer was really pretty simple: “My job is to help businesses and individuals achieve their goals. For me, that includes providing people with an opportunity to expand their business knowledge.  Simply giving some valuable information away for free? No, I’m doing what I love.”

The Kreamer Law Firm specializes in business law as well as estate law.  We Get Things Done!