If you are set to realize a capital gain from the sale of your company, you may want to find ways to reduce your capital gains tax liabilities. We are not registered tax advisors, so we cannot provide tax advice. We do, however, maintain close and cooperative relationships with leading tax, accounting and audit firms, who can work with you on a tailored tax strategy.

One option is to consider you may wish to discuss is moving a proportion of the assets of your company into a Charitable Remainder Trust. You can transfer some of your business assets into the trust prior to the sale, which when sold, will not be liable for capital gains tax.  You can also elect any number of non-profit organizations to benefit from the trust. For your lifetime and your heirs’ lifetime, the capital in the trust will be invested, grow and generate income, while being sheltered in the trust’s protection. Only on the death of your heirs will the capital pass to your chosen non-profits.

The benefits include:

• No capital gains tax to be paid on any assets held in the trust when they are sold.
• Protection of assets held within the trust
• Income stream for your retirement
• You maintain control of the trust, the way it is invested and the income it generates.
• No court interference at death
• No probate
• No court costs and faster transfer to heirs
• Privacy. Trusts are not public record, so can be handled discretely.