Monthly Archives: October 2025
Succession Planning for Family Businesses
Family-owned businesses drive the economy. These organizations account for over half of the U.S. gross domestic product, provide over half of the country’s jobs, and generate $7.7 trillion in revenue. More importantly for purposes of this blog, a family-owned business has a substantial emotional value that’s almost impossible to calculate. For many families, their… Read More »
Five Quick Ways to Avoid Guardianship in Florida
A combination of careful planning and certain legal tools usually allows people to retain their independence while, at the same time, they prepare for future incapacity. Avoiding guardianship also means retaining control over one’s own life. This process is especially important in Florida. The Sunshine State’s involuntary guardianship procedure is rather fast. Almost anyone… Read More »
What is the Purpose of a Dynasty Trust?
The first dynasty trust may have been a gold tooth. The gold was immune from creditor seizure and could be passed down through multiple generations. Today, there’s a better way to achieve the same goal. A modern dynasty trust is a long-term legal arrangement that preserves and transfers wealth across multiple generations while minimizing… Read More »
What You Should Know About the Gift Tax
Typically, the gift tax rate is much higher than the income tax rate. Furthermore, the IRS broadly defines “gifts” to include any transfer of property or assets from one person to another without receiving full value in return. It applies to cash, real estate, investments, or any other valuable item given as a gift…. Read More »