Bender Ciccotto Assists in Implementing a Succession Plan for a Large Real Estate Family
September 2009
We assisted a large family business in its implementation of a succession plan providing funding of current and future estate taxes through IRC Sections 303 and 6166 and the use of Dynasty and Insurance Trusts. Prior to the planning, the family’s business was in jeopardy due to poor planning. If any of the owners were to pass away, the families would not have the cash to pay the estate taxes and would have to start liquidating real estate that they would rather not sell. The family is currently covered by enough life insurance that if anything were to happen, the family’s non-liquid assets would be preserved.
