In the simplest terms, business succession planning is not about making higher profits or selling the business to the highest bidder. It has everything to do with selecting the right person who is capable of taking over the business and running it well in the future....

The Covid pandemic resulted in the loss of many businesses, culminating in an unprecedented unemployment rate. Without warning, many companies lost a lot of talent and expertise. Today, most businesses are struggling to fill the void left by the loss of staff at every...

Some business owners may think that succession planning is still a long way off. They may believe they can always find a successor for their business if anything happens to them. While this may be true in some cases, not having a succession plan usually leads to...

Business succession management planning is a strategy that many companies employ to transfer the role of leadership to another employee or a group of employees. Succession planning is a proactive endeavor utilized by businesses to streamline the process of selecting...

For business owners who are considering retiring or venturing into another career but still want the business to run as before, one option is to create a business succession plan. When done in the right manner, business succession planning documents can help you...

Throughout the nation, many people worry about an estate tax. But is there a Florida estate tax? Twelve states and the federal government levy estate taxes against the assets you leave to your heirs, so it’s only natural to wonder about Florida’s position on estate...

When dealing with marital property in Florida, a common question is, ‘is Florida a community property state?’ The answer is that, like many other states, Florida is not a community property state. Community property states follow laws that suggest that any assets...

Property is one of the single most valuable assets to leave your heirs, and if you’re wondering about the best way to leave property upon death, you’re not alone. While many people think about careful estate planning, few actually follow through, and working to ensure...

Inheritance rights of children in an estate depend a great deal on whether the decedent had a will or not. If there is a will, it will be clearly stated how much each child should inherit, and in most cases, this is a straightforward process. For example, one will may...

As you begin to learn more about inheritance law, you’re likely to come across one key term - “next of kin.” At its simplest, it just means the decedent's blood relatives who are first in line to inherit his or her assets. It becomes more complex, though, when you...