Many small business owners are facing devaluation of their companies in the economic downturn. However, this could be a good thing for the future. If you expect your company to recover, you can perform an estate freeze to keep a portion of your estate from being taxed when you pass on.
In an estate freeze, the current value of your company is frozen. In doing this, future growth of the company can be put into a trust or can go to your children. With the proper structure, you can still maintain control of your business.
If you would like to know more about estate freezes, contact the Austin probate attorneys of Slater Kennon & Jameson, LLP at 512-338-1100.
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