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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The changes in the carrying amount of goodwill by reportable segments were as follows:
Reportable Segment | December 31, 2024 | Additions | Adjustments | September 30, 2025
Life Solutions | $ | 139,930,190 |  | $ | 10,725,271 |  | $ | — |  | $ | 150,655,461 |
Asset Management | 98,366,010 |  | — |  | (61,834) |  | 98,304,176 |
Total | $ | 238,296,200 |  | $ | 10,725,271 |  | $ | (61,834) |  | $ | 248,959,637 |
Schedule of Finite-Lived Intangible Assets | Intangible assets acquired comprised of the following:
Asset Type | Fair Value |  | Useful Life |  | Valuation Methodology
Management agreements | $ | 47,400,000 |  |  | 4 - 8 years |  | Multi-period excess-earnings method
Customer relationships | 31,693,300 |  |  | 3 - 10 years |  | Multi-period excess-earnings method
Non-compete agreements | 7,400,000 |  |  | 1 - 3 years |  | With or Without Method
Internally developed and used technology | 2,100,000 |  |  | 2 - 3 years |  | Replacement Cost Method
Trade Name | 2,500,000 |  |  | 3 - 10 years |  | Relief from Royalty Method
State Insurance Licenses | 2,700,000 |  |  | Indefinite |  | Replacement Cost Method
Trade Name | 900,000 |  |  | Indefinite |  | Relief from Royalty Method
Total | $ | 94,693,300 |  |  |  |  |
Intangible assets and related accumulated amortization are as follows:
|  | September 30, 2025
|  | Gross Value |  | Accumulated Amortization |  | Net Book Value
Definite-Lived Intangible Assets: |  |  |  |  |  |
Management agreements |  | $ | 47,400,000 |  |  | $ | 6,948,015 |  |  | $ | 40,451,985 |
Customer relationships |  | 31,693,300 |  |  | 9,937,304 |  |  | 21,755,996 |
Non-compete agreements |  | 7,400,000 |  |  | 5,555,556 |  |  | 1,844,444 |
Internally developed and used technology |  | 2,100,000 |  |  | 1,786,111 |  |  | 313,889 |
Trade Name |  | 2,500,000 |  |  | 194,445 |  |  | 2,305,555 |
Total |  | $ | 91,093,300 |  |  | $ | 24,421,431 |  |  | $ | 66,671,869 |
Indefinite-Lived Intangible Assets: |  |  |  |  |  |
State Insurance Licenses |  | $ | 2,700,000 |  |  | $ | — |  |  | $ | 2,700,000 |
Trade Name |  | 900,000 |  |  | — |  |  | 900,000 |
Total |  | $ | 94,693,300 |  |  | $ | 24,421,431 |  |  | $ | 70,271,869 |
Schedule of Indefinite-Lived Intangible Assets | Intangible assets acquired comprised of the following:
Asset Type | Fair Value |  | Useful Life |  | Valuation Methodology
Management agreements | $ | 47,400,000 |  |  | 4 - 8 years |  | Multi-period excess-earnings method
Customer relationships | 31,693,300 |  |  | 3 - 10 years |  | Multi-period excess-earnings method
Non-compete agreements | 7,400,000 |  |  | 1 - 3 years |  | With or Without Method
Internally developed and used technology | 2,100,000 |  |  | 2 - 3 years |  | Replacement Cost Method
Trade Name | 2,500,000 |  |  | 3 - 10 years |  | Relief from Royalty Method
State Insurance Licenses | 2,700,000 |  |  | Indefinite |  | Replacement Cost Method
Trade Name | 900,000 |  |  | Indefinite |  | Relief from Royalty Method
Total | $ | 94,693,300 |  |  |  |  |
Intangible assets and related accumulated amortization are as follows:
|  | September 30, 2025
|  | Gross Value |  | Accumulated Amortization |  | Net Book Value
Definite-Lived Intangible Assets: |  |  |  |  |  |
Management agreements |  | $ | 47,400,000 |  |  | $ | 6,948,015 |  |  | $ | 40,451,985 |
Customer relationships |  | 31,693,300 |  |  | 9,937,304 |  |  | 21,755,996 |
Non-compete agreements |  | 7,400,000 |  |  | 5,555,556 |  |  | 1,844,444 |
Internally developed and used technology |  | 2,100,000 |  |  | 1,786,111 |  |  | 313,889 |
Trade Name |  | 2,500,000 |  |  | 194,445 |  |  | 2,305,555 |
Total |  | $ | 91,093,300 |  |  | $ | 24,421,431 |  |  | $ | 66,671,869 |
Indefinite-Lived Intangible Assets: |  |  |  |  |  |
State Insurance Licenses |  | $ | 2,700,000 |  |  | $ | — |  |  | $ | 2,700,000 |
Trade Name |  | 900,000 |  |  | — |  |  | 900,000 |
Total |  | $ | 94,693,300 |  |  | $ | 24,421,431 |  |  | $ | 70,271,869 |
Schedule of Estimated Annual Amortization for Intangible Assets | Estimated annual amortization of intangible assets for the next five years ending December 31 and thereafter is as follows:
2025 remaining |  | $ | 3,990,487 |
2026 |  | 15,211,950 |
2027 |  | 15,014,727 |
2028 |  | 11,501,255 |
2029 |  | 7,813,616 |
Thereafter |  | 13,139,834 |
Total |  | $ | 66,671,869 |

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