A large part of business sucession planning is structuring the transfer of business ownership. While outright transfers can be less complex, transferring ownership in trust can provide practical benefits that are worth...more
6/30/2025
/ Beneficiaries ,
Business Ownership ,
Business Succession ,
Estate Planning ,
Family Businesses ,
Fiduciary Duty ,
Grantor Trusts ,
Risk Management ,
S-Corporation ,
Shareholders ,
Tax Planning ,
Trusts
Business succession planning and estate planning are often linked together, particularly in the case of closely held family businesses. In the case of a shareholder who wishes to pass along their shares of an S corporation as...more
6/11/2025
/ Beneficiaries ,
Business Plans ,
Business Succession ,
Closely Held Businesses ,
Estate Planning ,
Family Businesses ,
Filing Requirements ,
Grantor Trusts ,
Internal Revenue Code (IRC) ,
IRS ,
S-Corporation ,
Shareholders ,
Tax Planning ,
Taxation ,
Trusts
All U.S. closely held businesses just received a warning from the highest court in the land that they should review their succession plans (or else risk a higher tax bill for the estates of their owners). On June 6, 2024, the...more
6/17/2024
/ Business Ownership ,
Business Succession ,
Buy-Sell Agreements ,
Closely Held Businesses ,
Connelly v United States ,
Estate Planning ,
Estate Tax ,
Fair Market Value ,
IRS ,
Life Insurance ,
Redemption Agreement ,
SCOTUS ,
Shareholders ,
Small Business ,
Survivorship