Jennifer Ridgely
Family Office Advisory And Tax Services
CohnReznick Advisory LLC helps clients optimize their financial success, manage risk and maximize stakeholder value. Jennifer Ridgely, a partner at the firm, specializes in high-net-worth clients’ business and personal wealth lifecycles.
Ridgely is a key member of the family office practice, advising those with ultra-high net worth and managing their assets, including homes, airplanes and yachts. “I help to ensure that family needs are addressed as they relate to proper titling of assets, helping clients with life events and assisting with next-generation planning,” she says.
Though Florida has many seasonal residents, Ridgely is seeing an increase in permanent relocations to Florida. Proper planning is required to make Florida a person’s domicile and permanent residence.
“If a person keeps a home in their name in another state, they could potentially be subject to estate taxes in that state,” Ridgely says. “Additionally, creating a trust while in that prior state before moving to Florida could have lifelong negative state tax consequences for that trust.”
She adds, “Moving may also necessitate redomiciling your estate planning documents. If you move to Florida, you must keep in mind that this doesn’t mean your trust will be exempt from other state taxes.”
Ridgely is dedicated to helping her clients preserve their wealth and effectively manage their estates. One of the first questions she asks is whether estate planning documents exist. “Without a plan, your legacy is left up to the courts,” she says.
As business and personal circumstances can suddenly change, being prepared for an emergency is critical. “How would the family move forward if the matriarch or patriarch suddenly became incapacitated or passed?” Ridgely asks. “Having plans in place eases unexpected transitions.”
In working with CohnReznick, clients have access to world-class industry resources. Ridgely notes, “CohnReznick is dedicated to providing a hands-on, collaborative approach and exceptional client service.”
CohnReznick advisory LLC, Florida Locations in Boca Raton, Sunrise, Jupiter and Miami, 561-367-1040, cohnreznick.com, jennifer.ridgely@cohnreznick.com
CohnReznick LLP provides attest services and CohnReznick Advisory LLC provides tax and business consulting services.
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