What is the name of your state (only U.S. law)? Missouri
I am getting conflicting advice from 2 different attorneys. The estate attorney want us to keep the corperation but sell all the assets and we do not want to sell the assets yet which would mean taking less than we would get by waiting a few months or even a few years until the property market picks up.
Is it better for tax purposes to dissolve my parents corperation before going through probate. If my sister and I want to keep some of the corperation assets to sell at a later date, can they be transferred to us before going to probate? Will keeping the corperation property increase probate costs for us? What are the advantages, if any, of dissolving the corpertation before probate? This might be a question for a CPA.
I am getting conflicting advice from 2 different attorneys. The estate attorney want us to keep the corperation but sell all the assets and we do not want to sell the assets yet which would mean taking less than we would get by waiting a few months or even a few years until the property market picks up.
Is it better for tax purposes to dissolve my parents corperation before going through probate. If my sister and I want to keep some of the corperation assets to sell at a later date, can they be transferred to us before going to probate? Will keeping the corperation property increase probate costs for us? What are the advantages, if any, of dissolving the corpertation before probate? This might be a question for a CPA.