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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
February 2025
Slicing The Inheritance Pie
ASSET RICH, CASH POOR
Let's say you own a $2 million business, which you intend to pass to your daughter. But, you also have a son who isn't involved in the business and doesn't want to be a future part of it. How do you fairly treat family members who aren't involved with the business when other family successors inherit your company?
ESTATE EQUALIZATION
You could have your heir who won't be in the business inherit an equal amount of other assets and cash. What, however, do you do if your portfolio is asset-rich but cash-poor? With sufficient time and careful investing, you could sock cash into an account you will use to equalize your estate.Or, you could buy a life insurance policy with a $2 million death benefit going to your son as beneficiary, while your daughter becomes beneficiary of your company.
Talk to you legal and tax professionals to learn how you might structure an estate equalization approach that works for every family member.
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