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Article: Family firm owners gain awareness of est. planning. (estate planning survey)
- Article from:
- National Underwriter Life & Health-Financial Services Edition
- Article date:
- October 17, 1994
CopyrightCOPYRIGHT 1994 Summit Business Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Family business owners are becoming aware of the need to do more formal estate and succession planning, according to the results of Massachusetts Mutual's second annual survey of family business owners.
In the survey of 1,002 family business owners from across the country, 53 percent of owners said they had completed a written estate plan and 28 percent said they had a written succession plan.
These results were described as surprisingly high percentages by members of Mass Mutual's family business advisory board. The 28 percent of owners with a written succession plan represents an increase over the 1993 survey, when 21 percent of owners said they had a ...