Robinson & Henry, P.C. lead tax attorney Lucas Frei discusses S-Corporations and trusts.
Here’s a transcript of his quick tip:
I was told today by a gentleman that he had been told he’s unable to have his S corporation owned by his trust, and unfortunately that’s incorrect information. There is something called the ESBT, the Electing Small Business Trust, in which we can actually have the trust be a shareholder of those S corporations.
Generally, an S corporation can only be owned by certain individuals. They can’t be owned by other entities or foreign individuals. But with the ESBT election, we can actually put that into your trust, and then provide you the security of having your business passed along via that trust.
So if you found this as good information, please go ahead and forward this to your friends and family, or just go ahead and simply hit that share button. Thank you so much.
Contact Robinson & Henry, P.C. Now
If you have questions about your business and trust, set up a free meeting with Lucas. Call 303-688-0944 or schedule online.