- passing of title;
- made with the intent to pass title;
- without receiving money or value in consideration for the passing of title.
The Kentucky Gift of Stock Interest in Business to Family Member program allows individuals to transfer ownership of stock in their business to a family member. This can be a beneficial option for those looking to pass on their business interests to their loved ones. This program is available in Kentucky and offers individuals the opportunity to gift stock interest to family members, aiding in the succession planning process. By participating in the Kentucky Gift of Stock Interest in Business to Family Member program, individuals can facilitate a smooth transition of ownership within the family, ensuring the business continues to thrive while keeping it within the family. This program also allows for a reduction in potential estate taxes, as the value of the gifted stock interest is removed from the donor's estate. There may be different types or variations of the Kentucky Gift of Stock Interest in Business to Family Member program, but specific names for these types are not provided. It is important to consult with legal and tax advisors to understand the specific options or types available within the program based on individual circumstances. Keywords: Kentucky, Gift of Stock Interest, Business, Family Member, transfer, ownership, stock, succession planning, estate taxes, smooth transition, legal advisors, tax advisors.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.