Section 2 Annual Gifts

• Library: Business Transitions 2009 Supp

Delete the first three paragraphs of the original section and replace them with the following:

Before examining more complicated estate planning techniques to transition the family business, the first option generally considered is gifting an interest in the business through the use of outright annual gifts using the annual gift tax exclusion. Each person may gift up to $13,000 of present interest gifts per donee in 2009 without any gift tax consequences. Thus, the senior family member and the member’s

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*Ms. DeMarea received her B.S.B.A., cum laude, in financial...