Never Can Say Goodbye

One of the defining characteristics of closely held business owners is their need to control. This need prevents many from using lifetime transfer strategies, leaving only testamentary approaches, which are inherently less transfer tax efficient. Obviously, life insurance structured outside of the business owner's estate and sections of the Internal Revenue Code, like Section 6166, that extend the

One of the defining characteristics of closely held business owners is their need to control. This need prevents many from using lifetime transfer strategies, leaving only testamentary approaches, which are inherently less transfer tax efficient. Obviously, life insurance structured outside of the business owner's estate and sections of the Internal Revenue Code, like Section 6166, that extend the period to pay estate taxes can ease the burden on the next generation.

But the

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