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Noel Santos
Emmanuel A. Santos JD CPA, Incorporated
447 Sutter Street, Suite 714, San Francisco, CA 94108
Phone: 415-362-8921
Fax: 415-362-8924
Cell: 415-412-5839
Email: noel@eas-cpa.com
Website: www.eas-cpa.com
Your Business...Your Family...Our Concern
November 2019
Continuing the Family Business
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.
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