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Using Purpose Trusts to Own Private Businesses

An emerging trend.

“What if I sold my business to a purpose trust?” Advisors are hearing this question from their business-owning clients more frequently these days. The initial buzz among the business owner community started when Yvon Chouinard transferred ownership of Patagonia to a purpose trust in 2022.1 However, business owners and their advisors are beginning to recognize that purpose trusts aren’t just for billionaires, nor do they require the owner to donate their business to charity. In fact

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