Why Every Family Needs a Trust & LLC (Not Just the Rich)

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Trusts 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.

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Chapters

(00:00) Building a Family Office from the Ground Up
Why wealth preservation starts with structure, not income level.

(01:00) What a Family LLC Really Means
How families can use an LLC or corporation to start engaging the next generation.

(03:05) Why Every Family Needs a Revocable Living Trust
How a trust simplifies estate planning, avoids probate, and keeps family assets under control.

(05:00) When to Create a Trust for Your Kids
What age to involve children in trust planning and why earlier is better.

(06:20) The Real Cost and Complexity of Setting Up a Trust
How much you should expect to pay and what makes a “simple but solid” setup.

(10:35) Avoiding Probate and Protecting Assets
How funding your trust correctly prevents future court battles and delays.

(11:00) Involving Family Early and Teaching Financial Literacy
Turning allowances into tax-deductible payments and getting kids engaged in the business.

(16:00) Turning Family Vacations into Business Meetings
Legitimate ways to host family meetings and create structure while maintaining compliance.

(18:00) Starting Small with a Family LLC or Partnership
How to build an investment or education fund for your kids without high legal costs.

(20:00) Structuring Your Family Business for the Future
How to align trusts, wills, and share ownership to protect the next generation.

Podcast Host:

Mike Jesowshek, CPA – Founder and Host of Small Business Tax Savings Podcast
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🎙 ABOUT THE PODCAST
The Small Business Tax Savings Podcast is your go-to resource for cutting-edge tax strategies to help entrepreneurs legally slash their tax bills. Hosted by Mike Jesowshek, CPA, this show breaks down complex tax topics into clear, no-fluff insights so you can keep more of your hard-earned money.