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Estate tax planners have long employed intentionally defective grantor trusts to freeze the value of an asset for estate tax purposes while transferring assets out of the estate free of gift tax. An intentionally defective grantor trust (IDGT) is a complete transfer to a trust for transfer tax purposes but an incomplete, or “defective,” transfer [...]
By Parag Patel, Esq.
What if your business partner retires, sells her portion of the business, or gets a divorce? To make sure there is a smooth transition following the departure of a business partner, it is important that business owners in limited liability companies, corporations and partnerships write a buy-sell agreement at the start of [...]
The stretch IRA concept is a wealth-transfer strategy that can help you extend the period of tax-deferred earnings on your retirement assets. After the owner of the IRA dies, the beneficiaries will also have the longest allowable period of tax-deferral on the required distributions of the IRA assets. This strategy can allow distributions from your [...]