|
| Lifetime gifts
| Bequest
| Lifetime sale
| Estate sale
| Buy-sell agreement
|
| If you want to: Sell your business interest
| Not appropriate
| Not appropriate
| You may be able to sell your business outright-but there is no guarantee
| Your estate may be able to sell your business outright-but there is no guarantee
| Buy-sell agreement can be used to guarantee the sale of your business
|
| If you want to: Give business to your children
| You can control the timing and size of the gifts
| You control the size of the gift through your will
| Not appropriate
| Not appropriate
| Not appropriate
|
| If you want to: Sell business to your children
| Can be used in conjunction with sale
| Not appropriate
| You can control timing of sale-but sale is not guaranteed
| Your child could buy from your estate-but sale is not guaranteed
| Buy-sell can be used to guarantee your child's option to buy your interest
|
| If you want to: Minimize value of your estate
| Can be used to reduce the value of your estate and maximize gift tax exclusion
| Will not minimize value of your estate
| You can control timing of sale-but sale is not guaranteed
| Value of business must be included in your estate
| Value of business must be included in your estate, but the buy-sell can help establish that value
|
