Within the past several days there have been two horrific plane crashes, leading to a total of 12 deaths. On Saturday, an Asiana Airlines flight crashed while landing in San Francisco, with 307 passengers on board. Two have been reported dead, with many in critical condition. The next day an Alaskan air taxi crashed, killing all 9 passengers, as well as the pilot.
With devastating events such as these, we are confronted with the grave reminder of how fleeting life can be, and the importance of planning for the unknown. For many, such planning is for the benefit of family; while others want to keep their memories alive through good deeds & charity donations. Although we have little control over our fate; you can gain control over your legacy with the following estate planning documents:
Living Trust – gain control, asset protection, & preclusion of unnecessary taxes; ensuring asset protection for your beneficiaries.
- gifts to charities that qualify for income tax and estate tax deductions can be made through Charitable Lead Annuity Trusts or Charitable Remainder Trusts. Furthermore, a Charitable Lead Annuity Trusts (“CLATS”) allow an individual to transfer their assets to a beneficiary upon their death who can then donate the assets to a charity of their choosing.
Assignment of Property – place all of your property into the trust, and avoid costs & headache associated with probate.
Last Will & Testament – used to distribute property to beneficiaries (or a trust), specify last wishes, and name guardians for minor children.
Durable Power of Attorney – gain control by designating someone to legally act on your behalf, in the event that you become incapacitated.
Combination Living Will & Designation of Healthcare Surrogate – gain control by making important healthcare decisions for yourself in advance.
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