What would happen to LTT if Linus died?

we came to learn tech... we stayed to learn inheritance strategy

Was 100% expecting Luke to say he'd expect to take over and for Linus to agree

I feel bad that my first thought was “Linus Death Tips, I guess?” In all seriousness, LTT and Linus personally do great work and I hope they’ll continue to do so for a long long long time. 💙

The trick with these kinds of estates, is to ensure you split voting-rights from the shares and put those voting-stock into a trust/foundation that is managed by you and has a list of "next-in-line" to manage the votingrights.

Then Dennis's dream of Dennis Tech Tips will finally be realized

If Linus suddenly died, that would make me and alot of viewers quite sad. Knock on Wood Hope you guys live long and fullfilled lives.

This is a bit late, but I completely understand how stressful this is. I’ve had to look into leaving my company to my daughter if something happened to me and it is wild the hoops you have to jump through.

This is amazing, thank you so much for this explanation. LMG's biggest attraction is integrity. Everyone feels it and knows it. Everything is relatable and honest.

As an HR professional: find Yvonne an apprentice. Just because she might be able to handle the pressure of her job fine, isn't really a reason to have her do it all alone. You just described a huge liability if she (god forbid) ever had a long term absence, which is not unthinkable.

I love hearing Linus talk about how important Yvonne is, for both him and the company. I also really respect planning for the inevitable future like this, because a LOT of people don't even want to think about this kind of stuff.

Linus, it's very heartwarming to hear that is how you feel about the relationship that you an Yvonne have. I am glad you two have each other.

I would love to hear updates about this subject when you start figuring things out. This is my favorite channel to watch on the internet. I'm in my 30s and don't have children yet but I would love for my children to be able to watch this channel as they grow up.

TLDR: look into specialized life insurance. My dad used to be in business with family before family stuff happened but all siblings had insurance that if one of them died it would pay out their portion of ownership well into 7 figures

The employee sellout option can be simplified. All employees join an LLC (separate from LMG). Upon your death (or whatever scenario) the employee LLC gets a purchase option. With employees able to contribute cash to the purchase price (getting a corresponding percentage) and the LLC itself can pursue a business loan for the remainder. A living business plan (for the loan application) can be kept going so that the LLC can immediately apply for the loan.

I love that Linus is thinking "backup" if disaster strikes at all facets of life not only data :) I do wish you all a long healthy and happy life. I've been watching for years and apart from everything I enjoy (tech, passion, humour, cringe, friendships, valuing your employees, experimenting, entertainment, deep technical dives etc), I value the honesty, consistency and open discussions very much. Hello form Greece ^_^

Richer Sounds, in UK (sells HiFi and TV stuff) is set up in a way that, when the founder dies, it becomes a sort of employee's cooperative. The soul will still be there.

So one of the ways that I have had my tax guy explain to get around the inheritance tax, especially of the business that is privately held, is to list the children as co-owners. The younger the better. The longer they are listed as co-owners, and have a mildly and slightly active role in the company, even if minimally impactful, it is enough to Canadian government and are the owners, should a co-owner die. This would still leave the company on the hook the payout the co-owner shares portion to the estate of the person who died, but the company itself would not fall into a soul less state.

The argument could be made the Linus with his name on the business was 60-80% of the value, devaluing the company if something happened

What about metaphorical/spiritual death

This was genuinely very interesting, and is a peek behind the curtain that you don't get often. Thank you so much for sharing!