The legal process after the death of a loved one who leaves assets in Florida, or when a small business owner considers his or her company's future after his or her death, can seem daunting. For families and business owners, two of the most critical areas of Florida law to deal with — and most misunderstood — are formal administration (also known as probate) and succession planning for small businesses. Knowing these processes can give you peace of mind, whether you're dealing with the loss of a family member or wanting to safeguard a business built over the course of many years.