Death, Where Is Thy Sting?
Even though estate taxes -- currently around 55% -- can cripple or destroy a family-owned business, other issues loom larger for owners, says a survey by Arthur Andersen & Co. and National Small Business United, a lobbying group. Too much emphasis on avoiding estate taxes could prove shortsighted.
What are your concerns about ownership succession?
% of respondents
Identifying a successor 35%
Handling nonfamily key employees 32
Management training for family members 31
Family members within or outside business 28
Estate-tax problems 27
Employee morale 9
Note: multiple responses account for total percentage above 100%.
Source: "Survey of Small- and Middle-Market Businesses, 1992," Arthur Andersen's Enterprise Group and National Small Business United.