For estate planning purposes, what are the advantages of setting up a business as a corporation vs. a partnership?
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For the purposes of minimizing tax liability how would estate planning be different from a partnership to a corporation?
How are sales & loans used as lifetime tranfer tools in estate planning? What are the reasons/advantages and threats/disadvantes of using these tools?
Please explain as throughoughly as possible what gifts of partial intersest are in estate planning, as well as describe how they are used as a liftime transfer tool. Please describe the advantages and disadvantages of these gifts as well (if possible).