Owner of Privately Held Business Saves Millions in Transfer Taxes
We structured the transfer of millions of dollars of potential appreciation in the privately held business of a client that was about to undergo a significant event without the need to pay any gift tax. This saved the family millions of dollars in transfer taxes, while preserving tax credits in case the hoped-for appreciation did not materialize. We worked with the client's investment advisors to facilitate appropriate asset allocation between the client's taxable and nontaxable estate.