Looking for advice - I am 64 and retired. I want to transfer ownership of my business (motel and liquor store) to my three children, as we wish to keep it in the family. The business is valued at $850k, and I do not need to sell it outright and take the cash. I am, however, hoping to carry the note for my children with a low interest rate and no money down. Any thoughts on the best way to accomplish this?Also, I currently have CD's (300k), an Ira (160k), stocks (200k), annuity (100k), treasury note (100k), and cash (200k). How can I best realign for income?Hope you can help.
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