Lifetime transfer strategies allow for the business owner to maximize their lifetime gift tax exemption while minimizing estate taxes. In addition, a gift to a grantor retained annuity trust or an installment sale to a grantor trust may be utilized to transfer a closely-held business interest to future generations with little or no gift tax.
Succession planning for the family business is an important part of any business owner’s estate plan. Lonich Patton Ehrlich Policastri can help you create a comprehensive, long-term succession plan tailored to your business and family needs. Our attorneys will work with you and your family to assemble a succession plan which allows you to retain flexibility in the present and which utilizes lifetime transfers as well as transfers at death.