Case #2 Family Planning

Family Case Study #2
Family Planning

Original SituationStrategies UsedMaximize Family ValueMinimize TaxesOptimize Giving
  • Couple in their mid 60’s and had 3 children and 8 grandchildren.
  • Family owned a business and 2 of the 3 children were active in the business.
  • Brother also owned a portion of the business, but wasn’t active in the business.
  • Wanted to give the business to their children involved in the business and equalize the inheritance for the child that wasn’t involved.
  • Already had trusts set up for the benefit of each child for their inheritance.
  • Wanted to include their family in charitable giving.
  • We created a plan to purchase the ownership from his brother to keep the business in his family.
  • We utilized a stock gift to the children active in the business and a Charitable Remainder Trust to transition the business to the next generation.
  • We developed a Life Insurance Trust to equalize the inheritance for the child not receiving business ownership.
  • We set up a Life Estate Agreement for their home since they didn’t want to keep it in the family after they passed.
  • We created a charitable giving strategy to facilitate income producing asset gifts to a Giving Fund which allowed them to give about 50% AGI limitation.
  • We developed a strategy to include their children and grandchildren in charitable giving and family mission trips.

Case studies are for informational and illustrative purposes only and not to be considered a guarantee of results.
Actual results will vary with each situation.