Team photo
Knaub and Company PC logo

Knaub & Company, PC

Certified Public Accountants

78 Meadow Village Drive, Suite E

PO Box 161030, Big Sky, MT 59716

 

Phone:  406-995-6040

Fax:      406-993-2772

  

Email: knaubco@3rivers.net

November 2019

Continuing the Family Business

Insights and Tips

If you have an asset-rich, cash-poor family business that you hope will eventually pass to loved ones, putting the entity into the right type of trust may spare your heirs from needing to conduct a fire sale to distribute the assets.


Flexible Vehicle

A properly written trust should allow the business owner to transfer assets to and from the trust in order to meet business needs. After the trust grantor, who is usually the business owner, dies, the trust terms will dictate which family members receive the business assets. Without the right type of trust, a cash-poor business may have to liquidate its assets so heirs can pay potential taxes.


Tax Consequences

Business assets in some types of trusts may also be subject to income taxes. Work with your tax and estate planning professionals to learn more.


SUBSCRIBE

Enter your Name and Email address to get
the newsletter delivered to your inbox.

Please include name of person that directed you to my online newsletter so I can thank them personally.


CONTACT US

Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.