For the purposes of minimizing tax liability how would estate planning be different from a partnership to a corporation?
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For estate planning purposes, what are the advantages of setting up a business as a corporation vs. a partnership?
Explain and discuss how the use of a family limited partnership or limited liability company could be used for estate planning, including their use in valuation of the assets.
Since limiting tax liability is a major goal of estate planning, there are various strategies that an estate planner can employ. In this discussion you explore these strategies and their impact on estate plans.
Choose one strategy to limit estate tax liability. Briefly describe it. Then, explain how that strategy impacts other estate planning decisions.