Zeev's Turnips Patch-No Politics (ZEEV)

[Captain_Jack]

Joe, A very good TAX Atty with some background in estate planning can set your business up in a way that might make you happy. Do not look for the cheapest but the best you can find. You may want to make your hiers non-voting partial owners now. Children with wifey taking your place. You can keep raising the ownership as the value increases. It can be set so they actually have nothing to say in the business until you & wifey pass away -- and even then (age or ?? Considerations) another (current #2 person ?) acting as Pres. Even with such a set up (much more detailed than it seems by this) the amount 'inherited' could be below the taxable range. Another thought is to have the business insure you for the amount of taxes that may be owed (even huge corps insure their CEO) for taxes,, a $1 - $5 MM policy is not terrible depending on age etc and term (until you plan on retiring & selling the business to your heirs for $1 each. Every state has different & wierd laws but there is a way around nearly every one of them.