Community Bankers of Iowa Monthly Banker Update April 2014 | Page 23

(Succession Planning continued from previous page)
expansion. The result: they are rich from a net worth
perspective, BUT they are cash poor. Cash is what will be
needed ($6 million to be precise) within 90 days of death to pay
the estate tax.
The tools that help resolve estate tax issues are numerous:
trust, buy/sell arrangement, lease, charitable planning