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So if you own a business and you own the real estate where the business is located and your children don’t want to take over the business, then a good way
to pass on generational wealth is to sell the business but retain the real estate for the benefit of you and and
your heirs because that can be then commercial property that’s then rented.
uh if you pass it after your death, you can get a a step up in basis to your children. There’s a lot of ways to pass a generational wealth by retaining that real estate.
Indianapolis, IN business attorney Ben Spandau talks about how you can pass wealth to children who don’t want to take over your business.