Minimizing a family business tax burden

Big Problem: Large tax burden in the succession plans of a family business.

Big Thinking: Creating a grantor trust to save $1.5 million.

Greg Allison is responsible for estate and succession planning for business owners, executives and high-net-worth individuals. He also prepares annual income tax returns for estates and trusts in addition to gift tax returns, federal estate tax returns and state inheritance tax returns.

One of Allison’’s clients was a father wanting to retire and give his…