A band of burglars recently pulled off a jewelry heist involving $1 million worth of red carpet loot from the Cannes Film Festival 2013. Although the uninsured jewelry was believed to be protected through the use of a safe – the bandits one-upped ‘em by simply unscrewing the entire safe from the wall.
The shock; the horror! How can we have faith in humanity when even the stars have been ravished of their bare necessities? The good news is, you Cannes protect yourself! Here in Florida, there are a variety of estate planning methods that can be used to protect your assets.
The truth is you don’t need $1 million in jewels in order to implement safety measures, as EVERYONE needs estate planning. Regardless of how much or how little you own, the goal remains the same:
- asset protection
- control over your assets
- protecting your loved ones
- preclusion of unnecessary taxes
- creditor protection
- limited/no transfer taxes for following generations
- insuring your assets
For example, in South Florida, if you die without a will all of your assets will be automatically distributed “per stirpes.” The danger in this is that you lose all control over who will receive your estate, and your intentions become irrelevant. The statutory scheme may leave out groups of loved ones, such as stepchildren; and does not protect beneficiaries that are not mature enough to deal with a large inheritance. Such issues are unlimited, but can be avoided through proper estate planning.
By utilizing estate planning techniques, you can protect yourself and your family from unnecessary hassles while safeguarding your assets. Through a variety of estate planning tools, including Trusts, Wills, Powers of Attorney, Health Care Surrogates, Funding Techniques, and more; you can make your “safe” burglar proof!
For more information on successful Florida estate planning and business succession planning, 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