Many family business owners aren’t aware of charitable planning and charitable gifts. More than 50% of family business owners aren’t exploring these options and their tax benefits.
Because the tax laws change frequently, family business owners need to work with their estate planning attorneys and take advantage of any new strategies to legally avoid estate taxes, gift taxes and other taxes.
After speaking with an attorney, some family business owners find that they’re richer than they thought once their estate plan is drawn up. Estate planning is critical for the inheritance to control the assets and minimize the tax imposed by both your state and the federal government.
Talk with a qualified and experienced estate planning attorney so you are placing your business in the best possible condition when you pass it to the next generation.
