Legal Updates & Commentary for Tax & Estate Planning
A basic precept of effective estate planning is for a member of an older generation to transfer[i] property to a family member of a younger generation – for example, stock in a closely held corporation – that is reasonably anticipated to appreciate in value over time. In this way, not only…
“But it’s my business. I own it.”
How many times have you heard this response from the owners of a business entity after you’ve advised them that they should not treat the entity as their personal bank account?
Too often, I’d wager.
What’s more, the response is not limited to…
