Business succession planning is a part of estate planning. How can we pass a family business to the next generation? Yvon Chouinard donated 98% of his $3 billion company to an Internal Revenue Code Section 501(c)(4) organization. Why would he do this? There are several potential reasons: it saved him millions in taxes, accomplished certain political goals, and solved some common succession issues.
Our friends at the AAEPA have written a detailed breakdown, which is available at this link.
Estate Planning Attorney at Slaton Schauer Law Firm, PLLC
Before practicing exclusively in Estate Planning Law, Mr. Slaton-Freeman worked in research contracts for Texas A&M University, for a major international defense contractor, and the Texas Office of the Attorney General. His background includes trial litigation, business law, analysis of complex contracts, and estate planning.
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