Under the IRS’s proposed new regulations, they would permanently and profoundly change estate planning for families that own a controlling interest in a privately held corporation, partnership, or limited liability company.
Current valuation methodology for gift and estate tax purposes often includes discounts for privately owned businesses. Modern estate planning sometimes includes packaging investments into a family-owned investment pool that would be subject to discounting, which can and have ranged from 15 to 5
The metaphorical glass slipper represents the combined interpersonal dynamics of your family and loved ones, your individual passions, goals, hopes and dreams, along with the complexity of your family’s estate plan.
The death of a loved one is a difficult and emotional time for a family. There is often additional stress if you are appointed as the executor of the will and trustee of your family’s trusts, especially if the deceased had been the sole manager of substantial family assets and wealth.