Nichols and Retzner: Using a purpose trust in a business succession plan
The “purpose trust” should be in an estate planner’s “tool kit” and considered in a client’s business succession and charitable planning.
The “purpose trust” should be in an estate planner’s “tool kit” and considered in a client’s business succession and charitable planning.
Over their lifetimes and at death, parents make gifts to children under the assumption that those gifts will be the property of that child for life, no matter what.