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How Can I Balance Inheritances as a Family Business Owner?

Estate planning can present challenges when certain conditions exist. When you are the owner of a family run business, you may well face some vexing circumstances. To explain by way of example, let s say that you have two sons and a daughter, and you have operated a business throughout your adult life. Early on, your sons decided that they would like to help you run the business, and they have done just that. You would like your sons to continue to run the business after you pass away, and they want to carry the torch. The business may be your most valuable asset, so if you leave the entire business to your sons, where does that leave your daughter? This is the matter of inheritance balancing. If you are in this situation, you could potentially utilize life insurance to balance the inheritances that your children receive. You could determine the value of the share that each son will have in the business, and you can take out a life insurance policy that will provide a payout that is e
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