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Succession Planning to Transfer Business Without Transfer Tax

We represented a manufacturer, its second, third and fourth generation owners, its family office and its foundations.

Our succession planning techniques have allowed the ownership of this S Corporation with multiple classes of stock to move through generations without transfer tax through a combination of outright gifts, GRATs, and gifts and sales to Intentionally Defective Irrevocable Trusts.

Other planning techniques we used included creating family foundations, irrevocable life insurance trusts, family limited partnerships and comprehensive buy and sell agreements to achieve the owners’ goals. Additionally, we provided counsel to owners on the formation of an outside board.

We also provided other services including drafting of executive compensation plans to benefit key employees.