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Which of the following transfer mechanisms would be appropriate for the transfer of Fresh Veggies to...

Which of the following transfer mechanisms would be appropriate for the transfer of Fresh Veggies to James and Elizabeth assuming Kathi and Darrin did not want to make an outright gift of the company to them?

1. Private Annuity. 2. SCIN. 3. Family Limited Partnership. 4. QPRT.

(a) 1 only. (b) 3 only. (c) 1 and 2. (d) 1, 2, 3 and 4.

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Answer #1

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Answer:

In private annuity the obligor will agree to make payments to the annuitant according to an agreed upon schedule in exchange for the property transfer and will not come under the gifting category. Same can be said for Self cancelling installment notes too. Other options are incorrect as the transfer will be classified as gifting

Hence option 1 and 2

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