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Few people have more estate planning issues to deal with than the family business owner. The business may be the most valuable asset in the owner's estate. Yet, two out of three family-owned businesses do not survive the first generation due to poor planning. We will assist you in evaluating your options, based upon our experience in dealing with family-owned businesses.
A couple of concerns all small business owners should address as they plan their estate:
- Who will take over the business if you die?
- Who should inherit your business?
- How will the IRS value your company?
There's more to anticipating the settlement of your estate than completing your will. You must also consider estate and income taxes and the impact of these details on your beneficiaries.
Depend on the experience and permanence of Lake City Bank to effectively step in as your executor and trustee.
We work to protect your assets, meet your obligations, and see that the terms of your will are precisely carried out. Our objective is to ensure that your estate is settled efficiently, quickly, and economically.
Financial Calculators
Trust and Investment Management Service
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