Often neglected, planning for your business succession is a critical part of the estate planning process. Structuring your business to have a seamless transition if something happens to you is important. In Florida, business interests can pass by virtue of their governing documents, if the documents are drafted properly. Failing to have appropriate governing documents can cause delay and additional expense to your estate. Be sure to speak with an attorney when setting up your Florida entity, or if you have already set up your entity but have not considered succession planning.
-Emily A. Helmick, Esq.