Deferral and Installment Payment of Estate Taxes

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Deferral and Installment Payment of Estate Taxes

Deferral and Installment Payment of Estate Taxes definition: Family businesses may qualify for IRS code section 6166 which allows deferring estate taxes for a number of years. The family business must meet IRS qualifications and the business may not be sold or transferred to non-family members.

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7 More Family Office Resources:

Installment Sale Family Office Definition: Installment Sale Installment Sale definition: An installment sale occurs when the grantor loans an appreciating asset to a grantor trust. No gift taxes apply if the loan terms are at market ...
Intentionally Defective Grantor Trust Family Office Definition: Intentionally Defective Grantor Trust Intentionally Defective Grantor Trust definition: (IDGT) is an irrevocable trust that allows assets to appreciate without being subject to capital gains or transfer taxes when the assets ...
What are Estate Taxes? Question: What are Estate Taxes? Answer: Taxes, especially those taxes that can be a burden on other generations are an issue that family offices will often take care of for their family clients and try to ...
Estate Tax Family Office Definition: Estate Tax Estate Tax definition: A tax placed on the value of a deceased person's taxable estate before distributions are made. Assets transferred to spouses or charities are generally exempt from ...
Grantor Retained Unitrust Family Office Definition: Grantor Retained Unitrust Grantor Retained Unitrust definition: Grantor retained unitrust (GRUT) is an irrevocable trust that pays a fixed payment (calculated as a percentage or "unit" based on the annual net ...
Grantor Retained Annuity Trust Family Office Definition: Grantor Retained Annuity Trust Grantor Retained Annuity Trust definition: Grantor retained annuity trust (GRAT) is an irrevocable trust that pays a fixed dollar amount (annuity payment) to the grantor for a ...
Residuary Estate Family Office Definition: Residuary Estate Residuary Estate definition: After the estate pays all taxes, fees, and gifts/distributions, the residuary estate is the remainder. The resicuary estate may be addressed through a pour-over will or ...

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