Thinking of adding the business to family trust

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Reference no: EM131944509

Josh has a demolition business that is heavily leveraged. He currently has an inter-vivos trust and has been thinking of adding the business to the family trust. The business is currently a sole proprietorship. Josh was recently diagnosed with lung cancer and his doctor believes it is highly probable that at best, Josh has six months to live. He has a wife that has always been a stay at home mother for their four children (ages 3 to 21). He has no other close relatives.

He has contacted you for advice on the transferring the business to the trust and making his wife the trustee. What is your recommendation and why?

Reference no: EM131944509

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