Legal Question in Business Law in Kentucky
business transfer to next generation
how do we transfer ownership of the family business to our 3 sons equally w/o taxes? We are a sub s corp. with only my wife & me as members. We would like to do this in or over 5 yrs.
Asked on 4/07/08, 10:14 pm
1 Answer from Attorneys
Gregory Napier
Troutman & Napier, PLLC
Re: business transfer to next generation
This is actually an estate and gift tax question and there are too many things to consider for a quick answer. You really should make an appointment with a lawyer familiar with both business and taxation issues.
Answered on 4/08/08, 12:54 pm
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