Despite Tiger’s uncooperative Achilles’ tendon and Peyton Manning’s quest for a new football team, these two high profile celebrities share a common link- the high net worth of a professional athlete.
Forbes estimated the net worth of Tiger Woods to be about $600 million. As for Peyton Manning, it’s reported to be about $115 million dollars. However, with his soaring popularity with football fans and looming new offers with possible endorsement deals, it’s only going to increase.
With such wealth, power, and popularity also comes responsibility. That is, to oneself and to one’s family members. Asset protection and wealth preservation is the solution. Where there are deep pockets, there is also vulnerability to threats. Utilizing the right estate planning strategies and asset structuring can protect from potential litigation and creditor claims. A solid estate plan will reduce estate taxes, avoid probate, and also lower court and attorney fees. It also provides some well needed privacy for high worth assets as respite from all that high media attention sports celebrities get these days.
Here in South Florida, there are so many benefits to be enjoyed from asset protection trusts such as Charitable Remainder Trusts, Irrevocable Life Insurance Trusts, Qualified Personal Residence Trusts and so much more. Tiger and Peyton, as Floridians, might want to consider these options if they do not already have an estate plan in place.
It takes years of hard work to accumulate your wealth. But it can take seconds to lose it all. That’s why South Florida estate planning is one of the most critical processes every individual should engage in.
March Madness has a lot to do with estate planning. It is a team sport. Our lawyers work together with our clients to achieve the same goal in creating the perfect designed estate plan that will cater to his or her individual needs. When our clients win, we win…without the swinging or tackling.
For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 or via email at email@example.com to schedule your free consultation.
It’s a Wild world. Are you protected?