|
| Family
businesses generate one-half (49%) of U.S. gross domestic
product. |
Study of Nearly 1,000
Family Business Owners
B. The Impact of Estate Taxes
on Family Businesses
| Past estate planning costs: |
Total (All 967 firms) |
Average Among ALL responding
firms |
Total 39 Agriculture firms |
Average among Agriculture
firms |
| Total past expenditure on accountants |
$2.0 million |
$2,700
(n=756 of 967) |
$132,200 |
$4,300
(n=31 of 39) |
| Total past expenditure on financial planners |
$0.5 million |
$600
(n=860 of 967) |
$8,400 |
$300
(n=33 of 39) |
| Total past expenditure on attorneys |
$2.5 million |
$3,200
(n=788 of 967) |
$122,500 |
$4,000
(n=31 of 39) |
| Total past expenditure on estate tax life insurance |
$20.4 million |
$45,200 (n=451 of 967) |
$345,100 |
$16,400
(n=21 of 39) |
|
|
|
|
|
| TOTAL: |
$25.4 million |
-- |
$608,200 |
-- |
| %
of estate spent to date on estate
planning | |