As with any other transaction of importance, it is always recommended that you seek the advice and care of an attorney when creating and implementing your estate plan but either out of laziness or financial inability, many Floridians are still failing to plan for the protection of their assets. If you should fail to retain an estate planning attorney to work with you on your asset protection plan, at least follow the eight steps below and assure that your family isn’t left with nothing but a large pile of debt. As the old adage goes, if you fail to plan, you are in actuality planning to fail.
Step 1 – Sign a financial power of attorney.
Step 2 – Designate a health care surrogate.
Step 3 – Calculate your net worth.
Step 4 – Review your beneficiaries.
Step 5 – Write a will, or update the one you have.
Step 6 – Plan for state estate taxes.
Step 7 – Title your assets correctly.
Step 8 – Donate, donate, donate.
While these eight steps will provide you with basic protection, for a true and complete asset protection plan, please contact your estate planning attorney and work together to create a plan for your future and the financial future of your family for generations to come.
Until January 1, 2010, our law firm will provide a complimentary will to any person who schedules a free consultation to discuss their asset protection plan. Contact Wild Felice & Pardo, P.A. at 954-944-2855 or via email at firstname.lastname@example.org.