SET YOUR EYES on a rare celestial sight this Sunday, as the sun is briefly blocked by a hybrid solar eclipse. This eclipse is a “hybrid” because it will start as an annular eclipse, creating a “ring of fire” around the sun, before it morphs into a total solar eclipse, completely blocking the sun. Although Kenya offers the best front row seats to view this hybrid solar eclipse, it can be seen on the East Coast of the U.S. at 6:30 a.m., or live online via the Slooh Space Camera.
Take a moment to visualize our beautiful South Florida sun completely blocked by the moon. The probate of your estate is much like such an eclipse. Although the suns rays are still effective through the moon, you lose your greatest benefit – light. In just the same way, probate can block the administration of your estate with delay, headache, and hefty expenses. Thus, you are not receiving the full benefits of your estate plan.
The best way to avoid a total, hybrid, or “ring of fire” estate plan eclipse is to incorporate a pour-over will and trust into your estate plan. A will coupled with a trust effectively bypasses probate. The pour-over will takes all of the property that passes through the will, and funnels it into the trust. The property is then distributed to the trust beneficiaries pursuant to the terms of the trust. Think of the pour-over will as a safety net that catches all of the assets that were not properly transferred into trust. This effectively removes all of the property from the Last Will & Testament, thereby leaving nothing to be administered through probate.
Don’t let the solar eclipse block your benefits, plan ahead! For more information on successful Florida estate planning and asset protection techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 to schedule your free consultation.
It’s a Wild world. Are you protected?SM