May 01, 2003

The Use of Trusts in Business Continuation and Succession (2008, 17:03)

The Use of Trusts in Business Continuation and Succession

Probate and Property, May/June 2003

By Travis L. Bowen

Although trusts are used in many different contexts, this article will focus on the use of trusts in planning for business continuation and succession. First, it will highlight key issues that arise in drafting trustee powers to extend an owner’s control or influence over a business after the owner’s disability or death. Next, it will analyze the use of trusts to facilitate business succession when cross-purchase arrangements are used. Finally, it will discuss the use of trusts to hold S corporation stock. This article is only an overview, and the techniques discussed should be used only after thoroughly researching all related issues.

 

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