Why Every Family Needs a Trust & LLC (Not Just the Rich)
Why Every Family Needs a Trust & LLC (Not Just the Rich)  
Podcast: Small Business Tax Savings Podcast
Published On: Wed Oct 15 2025
Description: Send us a textTrusts aren’t just for the rich. Every family can benefit from one. A revocable living trust can simplify estate planning, avoid probate, and create a foundation for generational wealth.In this episode, Mike Jesowshek, CPA, sits down with Jack Fiveash, attorney and co-founder of The Co Letter, to talk about how families can use a simple trust and LLC structure to build long-term stability, protect assets, and involve their children in smart financial stewardship.They cover how to start a revocable trust, the ideal timing, what it costs, and how it ties into a broader family office structure that preserves both wealth and values.👉 Get the Free Tax Savings Starter Kit Built for Small Business Owners: https://www.taxsavingspodcast.com/starterkit🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/Chapters(00:00) Intro to Family Office StructuresA family office isn’t only for the ultra-wealthy.(02:41) Understanding Revocable Living TrustsWhat is a revocable living trust (RLT), why every family should have one, and how it simplifies estate planning.(04:43) When to Create a Trust for Your KidsJack explains the right time to create a trust for children and how even young people with digital assets or investments can benefit from having one in place.(06:53) Cost and Process of Setting Up a TrustJack outlines realistic pricing, what makes a trust legally sound, and the importance of completing a general assignment to fully fund the trust.(09:44) Funding the Trust and Avoiding Probate IssuesJack describes how a trust must be properly funded through title changes and assignments to avoid probate disputes later.(10:22) Involving Family Members EarlyJack and Mike discuss including children in the family LLC, teaching financial stewardship, and using legitimate methods to instill responsibility and long-term wealth habits.(13:38) Family Business Meetings and Board StructureHow to formalize family board meetings, even on vacations, to build both structure and tax efficiency. (18:30) Structuring Family Business EntitiesWhen to create new entities versus using existing businesses, how to integrate wills and trusts into ownership.(20:46) Building a Foundation for Generational WealthJack offers guidance for those just starting to build wealth: How to use simple structures like family LLCs or educational trusts to create lasting value for children and grandchildren.Learn more about family trusts, LLCs, and governance at  https://thecoletter.beehiiv.comPodcast Host:Mike Jesowshek, CPA – Founder and Host of Small Business Tax Savings PodcastJoin TaxElm: https://taxelm.com🚀 Visit:  https://www.TaxSavingsPodcast.com 🚀 Check Out TaxElm: https://taxelm.com/🚀 Join our Free Facebook Group: https://www.facebook.com/groups/taxsavings/🚀 YouTube: www.TaxSavingsTV.com👋🏼 GET IN TOUCHYou can Tweet @MJesowshek with any feedback, ideas, or thoughts about the lessons you've learned from the episodes. We want to thank you personally for tuning in 🙏🙏 LEAVE A REVIEWIf you enjoy the podcast, please leave a 5-star review on Apple Podcasts or Spotify—it helps more business owners find the show ⭐🎙 ABOUT THE PODCASTThe Small Business Tax Savings Podcast is your go-to resource for cutting-edge tax strategies to help