Well, the government has thought of it, and, at this point, appears to think it is legal. Look up "family limited partnership" or see: http://scholarship.law

Well, the government has thought of it, and, at this point, appears to think it is legal. Look up "family limited partnership" or see: http://scholarship.law.marquette.edu/cgi/viewcontent.cgi?article=1104&context=elders http://scholarship.law.marquette.edu/cgi/viewcontent.cgi?art... https://www.forbes.com/sites/brianluster/2014/03/18/why-forming-a-family-limited-partnership-means-less-stress-at-tax-time/#8658aa8658aa https://www.forbes.com/sites/brianluster/2014/03/18/why-form... Note especially the discount from fair market value for shares of interest in an FLP. [usual disclaimers - not a lawyer, not legal advice, see a qualified professional in your jurisdiction, etc.] The problem with tax/estate planning is the same problem as insurance - the time when you really want to have done it is often the time when it is too late to get it. (e.g., founder/owner is dying, building is flooding or on fire, etc.).