Preserving and Transferring Family Wealth

Frederick D Lipman

Chapter Chapter 11 in The Family Business Guide, 2010, pp 133-141 from Palgrave Macmillan

Abstract: Abstract This chapter discusses preserving and transferring family wealth by minimizing the effect of federal and state income, gift, estate, and inheritance taxes on transfers of family wealth to succeeding generations, including using asset protection devices. Many family business owners wait too long before attempting to transfer wealth to other family members. The ability to minimize gift, estate, and inheritance taxes is maximized when the valuation of the business is at its lowest point. As the business grows in value, the opportunity to minimize these taxes is much more limited.

Keywords: Family Business; Initial Public Offering; Family Wealth; Annuity Payment; Annual Exclusion (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-11180-6_12

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DOI: 10.1057/9780230111806_12

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