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Economic Downturn Creates Estate Planning Opportunities
01/15/2010
By Steve Armstrong, J.D., LLM, director, Rehmann
The current economic environment has had negative implications on most households and businesses in the United States.However, not everyone is aware that the current situation has created a unique opportunity to review the option of transferring family assets, business interests, property or other investments, to junior family members. This is due several factors, with the following being most impactful:
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Depressed asset values
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Historically low interest rates
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A potentially limited timeframe to continue receiving valuation discounts
Current applicable interest rates are low, approximately 2-3.5%. This factor is relevant in structuring the transfers because the transfer terms generally involve the payment of interest or factor the current interest rate in determining the value of the assets. Low interest rates, combined with depressed asset values, make this an opportune time for the senior family members to transfer assets to junior family members as part ...
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