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NIMCRUTS
Selling a Closely held Family Business using (NIMCRUTS) to avoid Capital Gains tax. |
NIMCRUT: Net Income Makeup Charitable Remainder Unitrusts.
Closely held family business’ can sometimes face a major dilemma.
Often times the business was started by a parent or parents and is now in large part being run by the children. As the parents (founders) age and or pass away, sometimes the children lose the desire to continue to run the business, or there may not be any children at all and the owners simply wish to sell the company to pursue other ventures in life.
I wish to assure anyone in this position that there is absolutely nothing wrong with this!
I have seen people work on and on in a business their hearts really are no longer into because of what someone else might think.
In addition, the realities of selling a successful well established business can be daunting.
The Capital Gains tax can be staggering, and therefore makes it almost not worthwhile to sell it.
We have a plan using NIMCRUTS to provide for current income, and provide Life Insurance to recover the value of the company.
Please call my office for more information on how we can help you. |
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