New Year - It's Time to Review Your Planning
The new year is the perfect time to start thinking about a meeting with
your Asset Protection and Estate Planning Attorney. It’s a good
habit to review your documents every year. If you have experienced any
major life changes, an old Estate Plan can actually be worse than no Estate
Plan at all. Remember to keep your Estate Plan current, updated, and comprehensive.
- Marriage, divorce, the birth of a child, illness, a change of financial
situation, and moving to another state all constitute life changes. Any
of these should trigger the need to have an Estate Planning Attorney review
- The sale or acquisition of any assets should trigger the need to have an
Asset Protection Review. Additionally, any transitions in business would
require a plan review.
- At a minimum, you need an up-to-date will and living trust so your estate
doesn't pass by intestacy to unintended heirs.
- Beyond your will or living trust, you'll need a durable power of attorney
(one for healthcare and one for your financial/legal affairs). You need
someone who can immediately act for you if you become incapacitated. You
also need a living will to spell out the circumstances when you want to
artificially prolong your life. You can see why that's important.
- Find a good Asset Protection and Estate Planning Attorney to ensure you
have an integrated plan, particularly if you have a taxable or complex estate.
If the claims against you when you die are likely to exceed the value of
your estate, then an Asset Protection Attorney should work with your Estate
Planning Attorney. Together, they may transfer to your heirs as much of
your estate as legally and ethically possible – creditor free.
The Presser Law Firm, P.A. can integrate an Asset Protection Plan with
your existing Estate Plan or work with you to create a new one.
Contact us today for a complimentary preliminary consultation regarding
your Asset Protection options.
The Presser Law Firm P.A.
6199 N. Federal Highway, Boca Raton FL 33487
(800) 999-9992 or e-mail