We are pleased to announce that the following article by Robert W. Finnegan, J.D., CLU®, AEP®, was recently published in the April Trusts & Estates.
IRC Section 6166 Revisited
A way to avoid a forced or fire sale of a closely held business to pay taxes
Code §6166 allows a decedent who was a US citizen or resident at the time of death to defer estate taxes attributable to a closely held business. This article takes an objective look at the requirements, limitations and pros and cons of Code §6166 as well as how life insurance can complement its use.
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Bob Finnegan is the Senior Vice President, Advanced Planning Attorney for Highland Capital Brokerage and a member of the Trusts & Estates magazine Insurance Committee. At Highland, Bob specializes in advanced planning for high net worth and ultra-high net worth clients. Bob can be reached at 518.424.8928 or firstname.lastname@example.org.