Pay It Forward

Estate Planning benefits those that survive you, not you. Make sure you plan to help those that deserve to receive from you.

Estate planning is the ultimate “pay it forward” technique one human being can do for another. You can work your whole life and become extremely successful. You want to be able to share the fruits of your labor with those closest to you. Give to those that supported you through out your journey.

You want to make sure your spouse is taken care of when you are no longer here to do it in person. You want to make sure your children can achieve their goals and become successful members of society as well. 

“Estate planning +asset protection is a way to safely house your assets and make sure they grow over time and not have them taken away by creditors or the government.”

A parent leads by example. If you teach your children the joys of helping others, you are able to keep your family assets growing even after your passing for generations to come.  People often say, ‘the rich get richer’. That can be achieved with proper planning.   

In order to protect your assets, not only is estate planning necessary, you must diversify your assets as well. You will want to build a portfolio that will allow your assets to grow throughout your lifetime and continue after your passing.  It is highly recommended to try to make it as tax efficient as possible.

Estate planning +asset protection is a way to safely house your assets and make sure they grow over time and not have them taken away by creditors or the government.

You should seek the advice of an experienced estate planning attorney in Fort Lauderdale, Florida to help you properly plan for the future through creative estate planning and asset protection techniques. Contact the Hershey Law Firm, P.A. in Fort Lauderdale Florida at (954) 303-9468 to schedule your free consultation.

Am I Too Young To Think About Estate Planning?

What makes humans different from other animals is that we know we are going to die. That knowledge gives us the incentive to make the most of the time we have and prepare accordingly for when our time comes.

There is no way to know when we are going to die. Young people assume they will wake up every morning, whereas old people are surprised each morning they wake up.

No one can honestly say they “enjoy” talking about their final days on this earth. However, it is a conversation that should be held between a husband and wife.  If you are not married, it is a conversation you should have with close family members and friends.

Estate planning is more  important for younger families with minor children.  You need to pre-plan and protect your surviving spouse along with appointing a guardian for your children. For example, a wife is the bread winner and the husband is  a “stay at home dad”. If husband and wife do not plan for death, and the wife dies, now the husband will have to go back to work and possibly find alternative living arrangements.

There are number of vehicles used with estate planning to protect both your assets and your wishes at your time of death: 

Revocable Trust(living trust): Allows you to control and manage assets in your trust while you are alive.

Living Will and Healthcare Surrogate- Will allow you to designate who will make medical decisions when you are unable to do so yourself.

Assignment of Property: Assign your property into your trust (real and personal property) to protect your assets.

Durable Power of Attorney: Designate and authorize someone to legally act on your behalf in the event you become incapacitated.

Last Will and Testament: Used upon death to distribute property to beneficiaries, specify last wishes, and name guardians for minor children.

“There is no way to know when we are going to die. Young people assume they will wake up every morning, whereas old people are surprised each morning they wake up.”

With the expertise of a South Florida estate planning attorney, you can start the process of thinking about what is important to you and how you would like protect your family and assets for the future. 

Fore more information on successful South Florida estate planning, please contact The Hershey Law Firm, PA in Fort Lauderdale, Florida at (954) 303-9468 to schedule your free consultation.