Sharing the Family Business Without Giving Up Control

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A useful strategy for protecting assets during a down economy and minimizing estate tax liability is starting a family investment company (FIC).

Who can use this plan? Families who want to lessen their estate tax burden, increase asset protection, and keep assets in the family. What are the benefits? By gifting interests in the FIC to your family, you reduce your estate but retain control over the day-to-day operations.

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Published In: Business Organization Updates, General Business Updates, Construction Updates, Family Law Updates, Wills, Trusts, & Estate Planning Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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