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November 7, 2021

Tax relief for transfer of family businesses

The government is fixing laws that would have penalized the passing on of a family business like a farm to the children of the business owner.

Given the large number of aging baby boomers, the next 10 years will see a dramatic increase in intergenerational transfer of wealth. Many business owners have worked their entire lives and have a significant portion of their net worth tied up in these businesses.

Published in Estate Planning