April 1996
Journal of Financial Planning;Apr96, Vol. 9 Issue 2, p13
Academic Journal
This article reports on various development in the field of financial planning . Owners of family businesses are worried these days. A 1995 nationwide survey by Massachusetts Mutual Life Insurance Co. of 1,029 owners of family firms found that the number of owners with a formal business-succession plan more than doubled since the 1993 survey--21 percent to 44 percent. The survey attributes the main reason for this dramatic increase in planning to concern about estate taxes. Owners are more aware of their potential estate-tax liability and are taking measures to reduce the bite. 1995 was a good year for most investors. The following data proves it--total return for the S&P 500 was 37.6 percent; total return for Dow was 36.87 percent; Lehman Aggregate Bond Index showed a gain of 18.5 percent; According to Ryan Labs Inc., a New York money management firm, 30-year Treasuries returned 34.15 percent. Harper's Magazine published part of a notarized prenuptial agreement filed by a couple in Albuquerque, New Mexico. Among other things, the couple agreed to live within their budget, pay off their credit cards before making major purchases, and set a weekly personal spending allowance of $70.


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