How It Works:
- You give shares in a closely held corporation or an investment partnership to OLT.
- OLT receives income distributions, and may sell the shares to a third party.
- You receive gift credit and an immediate income tax deduction for the appraised value of the business interests, net of any other liabilities that may pertain to it.
- You may be able to use a business interest to create a life-income arrangement, such as a flip unitrust.
- You have the satisfaction of making a significant gift that benefits both you and OLT during your lifetime.