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ABA: The American Bankers Association
Industry Insight

The Importance of Privately Held Business Valuations within Trusts

  • Brought to you by ITM
  • Published August 21, 2024

Privately held businesses form the backbone of many families’ wealth and legacy, often representing significant personal, financial, and emotional value. In the United States alone, there are 33.2 million privately held businesses, with 27.1 million having no employees and 6.1 million employing others, according to the US Small Business Administration Office of Advocacy. However, when these businesses are held within trusts, accurately determining their worth becomes crucial for audit, tax, financial, and legal reasons. Here’s why privately held business valuations within trusts are essential and how they can impact estate planning and asset protection.

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