And also, perhaps transformed the company ownership structure into a limited partnership as well, claiming a lower market value for the shares owned by limited partners.
tl;dr: First rule of US estate planning: Die broke.
And also, perhaps transformed the company ownership structure into a limited partnership as well, claiming a lower market value for the shares owned by limited partners.
tl;dr: First rule of US estate planning: Die broke.
Look up "family limited partnership" or see:
http://scholarship.law.marquette.edu/cgi/viewcontent.cgi?art...
https://www.forbes.com/sites/brianluster/2014/03/18/why-form...
Note especially the discount from fair market value for shares of interest in an FLP.
[usual disclaimers - not a lawyer, not legal advice, see a qualified professional in your jurisdiction, etc.]
The problem with tax/estate planning is the same problem as insurance - the time when you really want to have done it is often the time when it is too late to get it. (e.g., founder/owner is dying, building is flooding or on fire, etc.).