Private Wealth 2025

USA – FLORIDA Law and Practice Contributed by: Jennifer Jordan McCall, Drew Reitz and Christine Tsai Pillsbury Winthrop Shaw Pittman LLP

Alabama

Georgia

Tallahassee

Atlantic Ocean

Florida

Gulf of Mexico

Contents 1. Tax p.631

7. Citizenship and Residency p.638 7.1 Requirements for Domicile, Residency and Citizenship p.638 7.2 Expeditious Citizenship p.639 8. Planning for Minors, Adults with Disabilities and Elders p.639 8.1 Special Planning Mechanisms p.639 8.2 Appointment of a Guardian p.639 8.3 Elder Law p.639 9. Planning for Non-Traditional Families p.640 9.1 Children p.640 9.2 Same-Sex Marriage p.640 10. Charitable Planning p.640 10.1 Charitable Giving p.640 10.2 Common Charitable Structures p.641

1.1 Tax Regimes p.631 1.2 Exemptions p.631 1.3 Income Tax Planning p.632 1.4 Taxation of Real Estate Owned by Non-Residents p.632 1.5 Stability of Tax Laws p.632 1.6 Transparency and Increased Global Reporting p.632 2. Succession p.633 2.1 Cultural Considerations in Succession Planning p.633

2.2 International Planning p.633 2.3 Forced Heirship Laws p.633 2.4 Marital Property p.633 2.5 Transfer of Property p.634 2.6 Transfer of Assets: Vehicle and Planning Mechanisms p.634 2.7 Transfer of Assets: Digital Assets p.635

3. Trusts, Foundations and Similar Entities p.635 3.1 Types of Trusts, Foundations or Similar Entities p.635 3.2 Recognition of Trusts p.636 3.3 Tax Considerations: Fiduciary or Beneficiary Designation p.636 3.4 Exercising Control Over Irrevocable Planning Vehicles p.636 4. Family Business Planning p.636 4.1 Asset Protection p.636 4.2 Succession Planning p.636 4.3 Transfer of Partial Interest p.637 5. Wealth Disputes p.637 5.1 Trends Driving Disputes p.637 5.2 Mechanism for Compensation p.637 6. Roles and Responsibilities of Fiduciaries p.637 6.1 Prevalence of Corporate Fiduciaries p.637

6.2 Fiduciary Liabilities p.638 6.3 Fiduciary Regulation p.638 6.4 Fiduciary Investment p.638

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