In Planning for the Use of § 6166, What Are

question 3

Essay

In planning for the use of § 6166, what are several steps that can be taken to aid the owner of a small business while he or she is alive? In this connection consider the following.
a. The number of owners and the amount of ownership in the business.
b. The nonqualifying assets held by the owner.
c. Aggregation of qualifying interest.

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Definitions:

External Abdominal Oblique

A large muscle located on the side and front of the abdomen, playing a key role in rotational movements and supporting abdominal viscera.

Erector Spinae

A group of muscles and tendons which run nearly the entire length of the spine, helping to extend and straighten the back.

Vertebral Column

The series of vertebrae extending from the skull to the tailbone, forming the backbone that supports the skeleton.

Interspinales

Muscles located between the spinous processes of the vertebrae, playing a role in stabilizing and extending the spine.