Comprehensive solutions for tech entrepreneurs

Korasick Wealth Management Chuck Korasick, Warren Coughlin, Jen Lechman, Rebecca Sterling, Christopher R. Bryan

Korasick Wealth Management


phone

310-281-3803



phone

855-845-3551





address

UBS Financial Services Inc.
131 South Rodeo Drive
Suite 300
Beverly Hills, CA 90212



What’s your vision?

When you’re building a business, the questions are never-ending. Is it the right time to take money off the table? What steps should I take in advance of a sale? Now that we’ve sold, what does that mean for my family and our future? We can help you find the answers.

Whether you’re scaling your first business, exploring a sale or launching your third company, we can be a valuable resource. Call or email us today to discuss how we can apply our resources and experience to your unique situation.


Insights tailored from experience

  • Early stage entrepreneurs

    Challenges

    • Understanding risks/opportunities as net worth increases
    • Housing purchases
    • Basic estate planning strategies

    Solutions

    • Tax planning strategies
    • Flexible lending
    • Personal liability review
    • Intros to CPAs and attorneys
  • Late stage entrepreneurs

    Challenges

    • Tax minimization
    • Liquidity
    • Understanding what an event means for future cash flow

    Solutions

    • Advanced tax planning strategies
    • Tailored lending
    • Cash flow modeling
  • Serial entrepreneurs

    Challenges

    • Complex financial situations
    • Various moving parts not working in unison
    • Incorporating the next generation
    • Charitable planning

    Solutions

    • Family office solutions
    • UBS Philanthropy Advisory
    • Family advisory services

How we've helped other entrepreneurs realize their vision

Buying a dream home

Founder buys his dream home, keeps his capital working

Our client was on the founding team of a digital media start-up. As part of their Series B round, he had an opportunity to take $6m off the table. This allowed him to purchase his dream home in Santa Monica. But he had several concerns:

  • Having taken a smaller salary while growing the business, his income history limited the amount he was approved via a traditional mortgage to $1m.
  • He didn’t want to have to use all of the proceeds for a down payment.

Our client needed more flexibility than traditional banks offered, so we worked with our UBS Private Mortgage Banker to provide a truly customized solution. We recommended that he:

  • Move his assets to UBS, which qualified him for the UBS Premier Pricing1 rate on a jumbo loan.2
  • Use the UBS MortgagePlus program to pledge his eligible securities as collateral. While this program allowed him to finance up to 100% of his home’s value and keep his portfolio working for him, if the value of the pledged securities decreases below a certain level, the deposit of additional securities and/or the sale of securities may be required. Additionally, a default on the mortgage loan could result in both the loss of the home and pledged securities.3

As his company keeps growing we continue to uncover ways to add value with personalized advice and solutions.

Contact us to further discuss suitability of these products as part of your overall wealth management plan.



 
Making a charitable impact

Turning business success into charitable impact

Our client was the co-founder of a software as a service company that was going to be acquired for $150m. With a 10 percent ownership stake in the company, she faced a large tax liability.

With this event on the horizon, we began strategizing for ways to optimize the outcome. Through our conversations we came to find out that she had a passion for helping at-risk youth finish high school and attend college. Knowing she wanted to make a significant contribution towards this cause, we introduced a great solution: donating shares prior to the deal closing, as opposed to donating cash afterward.

We first met with the UBS philanthropy team to educate our client about a Donor-Advised Fund (DAF). We then introduced her to a CPA to model her tax liability based on various sale scenarios.

Next, we did the math to fully evaluate potential impacts:

  • Our client’s gross proceeds at sale were going to be approximately $15m, 100% of which would be taxable as long-term capital gains.
  • With no advanced planning in place, maximum tax rates would have left her with approximately $8.5m.1 By planning ahead and donating 10% of her shares to a DAF before the deal was completed, our client was able to pay less in taxes and increase her net proceeds.

Through the DAF, our client then had the ability to direct her donation to charities of her choosing over the course of several years.

We helped our client achieve her goal of supporting her passion while also receiving over $500,000 more “after-tax” dollars for herself and her family.




Charles Korasick has been recognized as a UBS leader.

UBS Top 35 Under 35, 2014 - 2017



Insights

 
 

 

 

 

 
 

 

 

 

Using debt for wealth planning

Creating a lasting and positive impact