How Florida Businesses Should Prepare for the Great Wealth Transfer
Over the next decade, nearly $884 billion will change hands in Florida as wealth moves from one generation to the next – a defining moment for Florida’s economy, its family-owned businesses and the communities they anchor.
On March 31st, The South Florida Sun Sentinel published Robert F. Mancuso’s second article of 2025, titled “How Florida Businesses Should Prepare for the Great Wealth Transfer”. In this latest piece, Robert examines the potential effects of the impending Great Wealth Transfer on Florida’s family business community.
Despite the absence of state estate or income tax obligations, Floridians will face many of the same financial and operational challenges that affect family business owners nationwide, upon experiencing a generational wealth transfer. The article highlights the importance of proactive and strategic estate planning to preserve the family business and secure the future of all of its stakeholders, including employees and the local community.
The South Florida Sun Sentinel is the 4th largest circulation newspaper in Florida, serving Broward, Palm Beach and Miami-Dade counties, with a daily print circulation of over 160,000. The Sun Sentinel is a 13-time finalist and 2-time winner of the Pulitzer Prize, most recently earning the award in 2019 for Public Service.