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GOODWILL AND OTHER INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill of $252,779,884 was recognized as a result of the business combinations, which represent the excess fair value of consideration over the fair value of the underlying net assets. Refer to Note 3, Business Combinations for further discussion. The changes in the carrying amount of goodwill by reportable segments were as follows:
Reportable Segment | December 31, 2025 | Additions | Adjustments | March 31, 2026
Life Solutions | $ | 147,007,357 |  | $ | — |  | $ | — |  | $ | 147,007,357 |
Asset Management | 105,772,527 |  | — |  | — |  | 105,772,527 |
Total | $ | 252,779,884 |  | $ | — |  | $ | — |  | $ | 252,779,884 |
Intangible Assets Acquired comprised of the following:
Asset Type |  | Net Book Value |  | Useful Life |  | Weighted Average Remaining Amortization Period |  | Valuation Methodology
Management agreements |  | $ | 47,400,000 |  |  | 4 - 8 years |  | 3.8 years |  | Multi-period excess-earnings method
Customer relationships |  | 31,693,300 |  |  | 3 - 10 years |  | 2.2 years |  | Multi-period excess-earnings method
Non-compete agreements |  | 7,400,000 |  |  | 1 - 3 years |  | 0.1 years |  | With or Without Method
Internally developed and used technology |  | 2,100,000 |  |  | 2 - 3 years |  | 0.0 years |  | Replacement Cost Method
Trade Name |  | 2,500,000 |  |  | 3 - 10 years |  | 0.3 years |  | Relief from Royalty Method
State Insurance Licenses |  | 2,700,000 |  |  | Indefinite |  |  |  | Replacement Cost Method
Trade Name |  | 900,000 |  |  | Indefinite |  |  |  | Relief from Royalty Method
|  | $ | 94,693,300 |  |  |  |  | 6.4 years |  |
Intangible assets and related accumulated amortization as of March 31, 2026 are as follows:
|  | March 31, 2026
|  | Gross Value |  | Accumulated Amortization |  | Net Book Value
Definite Lived Intangible Assets: |  |  |  |  |  |
Management agreements |  | $ | 47,400,000 |  |  | $ | 11,116,825 |  |  | $ | 36,283,175 |
Customer relationships |  | 31,693,300 |  |  | 12,732,800 |  |  | 18,960,500 |
Non-compete agreements |  | 7,400,000 |  |  | 6,122,222 |  |  | 1,277,778 |
Internally developed and used technology |  | 2,100,000 |  |  | 1,869,445 |  |  | 230,555 |
Trade Name |  | 2,500,000 |  |  | 377,778 |  |  | 2,122,222 |
Total |  | $ | 91,093,300 |  |  | $ | 32,219,070 |  |  | $ | 58,874,230 |
Indefinite Lived Intangible Assets: |  |  |  |  |  |
State Insurance Licenses |  | 2,700,000 |  |  | — |  |  | 2,700,000 |
Trade Name |  | 900,000 |  |  | — |  |  | 900,000 |
Total |  | $ | 94,693,300 |  |  | $ | 32,219,070 |  |  | $ | 62,474,230 |
|  | December 31, 2025
|  | Gross Value |  | Accumulated Amortization |  | Net Book Value
Definite Lived Intangible Assets: |  |  |  |  |  |
Management agreements |  | $ | 47,400,000 |  |  | $ | 9,032,419 |  |  | $ | 38,367,581 |
Customer relationships |  | 31,693,300 |  |  | 11,335,052 |  |  | 20,358,248 |
Non-compete agreements |  | 7,400,000 |  |  | 5,930,556 |  |  | 1,469,444 |
Internally developed and used technology |  | 2,100,000 |  |  | 1,827,777 |  |  | 272,223 |
Trade Name |  | 2,500,000 |  |  | 286,111 |  |  | 2,213,889 |
Total |  | $ | 91,093,300 |  |  | $ | 28,411,915 |  |  | $ | 62,681,385 |
Indefinite Lived Intangible Assets: |  |  |  |  |  |
State Insurance Licenses |  | 2,700,000 |  |  | — |  |  | 2,700,000 |
Trade Name |  | 900,000 |  |  | — |  |  | 900,000 |
Total |  | $ | 94,693,300 |  |  | $ | 28,411,915 |  |  | $ | 66,281,385 |
All intangible assets with finite useful lives are subject to amortization when they are available for their intended use. Amortization expense for definite-lived intangible assets was $3,824,053 and $4,633,154 for the three months ended March 31, 2026 and 2025, respectively. Estimated future amortization of definite-lived intangible assets as of March 31, 2026 is as follows:
2026 remaining |  | $ | 11,404,795 |
2027 |  | 15,014,728 |
2028 |  | 11,501,255 |
2029 |  | 7,813,616 |
2030 |  | 5,999,171 |
Thereafter |  | 7,140,665 |
Total |  | $ | 58,874,230 |
The Company also had other insignificant intangible assets of $810,012 and $79,059 as of March 31, 2026 and December 31, 2025, respectively.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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