PROCRASTION: THE ABILITY TO WITHSTAND THE URGE TO DO ANYTHING PRODUCTIVE.

Being a 'pro' at anything is something to be proud of. That means you are very talented. If you are an athlete, you would want to be a pro-athlete.  When it comes to estate planning, it is not an advantage if you have retained and maintain a 'pro' status when it comes to procrastinating.

To say you never procrastinate, is a lie.  Don't kid yourself. Everyone has fallen victim to the 'dark playground'. After all, the fact that you are reading this article means you are currently in the 'dark playground' and avoiding doing things that are actually on your 'to do list' (which I kindly appreciate and in this instance, I am more than happy to see that you are procrastinating)

“Stop being a ‘pro’crastinor and be ‘pro’active when it comes to your estate planning. There is no guarantee there will be a tomorrow, so prepare today.”

When it comes to estate planning, procrastinating should never be an option. It eventually causes family fighting and the chance of losing a portion of your estate to creditors. 

Great example of how procrastinating can cause more problems than expected.

Sonny Bono, passed away at the age of 62 due to complications from injuries sustained in a skiing accident. At the time of his death, Bono passed away with no estate planning, not even a simple will.  Fights ensued, due to the fact Bono had multiple marriages and children from each of those marriages. Even worse, at the time of his death, a secret love child surfaced wanting a piece of Bono's estate.

If Bono had not procrastinated and prepared his estate planning documents, he could have clearly stated who would and who would not receive from his estate (including a statement excluding any possible 'love children').

Stop being a 'pro'crastinor and be 'pro'active when it comes to your estate planning. There is no guarantee there will be a tomorrow, so prepare today.

If you live in Miami-Dade, Broward, or Palm Beach county contact an experienced estate-planning attorney at The Hershey Law Firm, in Fort Lauderdale, Florida, at (954) 303-9468 to discuss your estate planning needs. You can’t predict the future, but you can plan for it.

Protect Yourself Before You Wreck Yourself

To protect yourself from life threatening illnesses, you get vaccinated.  Failure to vaccinate is acting recklessly. You have a greater chance of catching an illness that you could spread to other unsuspecting individuals.

To protect your wealth and family you need an estate plan. With no estate planning, you are acting recklessly. You will allow the State to determine how to distribute your assets, determine who will take care of your minor children, and allow creditors direct access to your funds before money is distributed to your children.

Vaccinations save thousands of  lives.

Estate planning saves thousands of dollars and makes sure your family is taken care of for generations to come.

“With no estate planning, you are acting recklessly.”

Estate planning is not a ‘once and done’ activity. The world is constantly changing and there is a chance that the estate plan you previously drafted no longer works as intended. You will need a ‘booster shot’ every time life changes.

If you live in Miami-Dade, Broward, or Palm Beach counties it is time to start preparing your estate-planning portfolio. Make sure your family is taken care of when you are gone. You can’t predict the future, but you can plan for it.

Contact an experienced estate-planning attorney at The Hershey Law Firm, in Fort Lauderdale, Florida, at (954) 303-9468 to discuss your estate planning needs.

Who Cares About My Bills When I Am Gone?-----CREDITORS DO!

Like most South Floridians, you probably go crazy during the holidays and for birthdays and charge everything to your credit card. You dine at fancy restaurants. You take out loans to purchase luxury cars and buy big houses in Miami, Fort Lauderdale, or Boca Raton.

You live the life and then one-day life ends. You have outstanding bills and those surviving you worry about who will be responsible for your spending habits.

“If you are co-signer on your spouse’s credit card or mother’s credit card. You are required to pay back anything they owe when they die.”

I get asked the question all the time: “Do I have to pay off my dead relative’s debts?”

Most of the time, the answer is no. When someone dies, their estate is responsible for paying off the debts. That means that debt collectors can go after bank accounts, or assets that the deceased person owned individually.

The next question often asked is, “ What if the estate does not have enough money to pay the debts?”  Then the collector is out of luck because they cannot go after other people to collect. The debt will go “unpaid”.

Like most legal matters, there are exceptions to the rule that do allow collectors to collect from others.

CIRCUMSTANCES YOU MAY BE RESPONSIBLE FOR THE DEBT OF OTHERS

Joint Accounts: Co-Signer on loan, credit card, mortgage, medical bills

(Not responsible if just an authorized user)

Ex: If you are co-signer on your spouse’s credit card or mother’s credit card. You are required to pay back anything they owe when they die.

Stole assets from the estate of the deceased

Ex: You are in charge of handling the decedents estate and you failed to pay or prevent debtors from collecting by illegally using the assets.

** Pay back debt with your own money

Debt collectors are very creative and persuasive. Even if you are not responsible for the debt, they may use terms such as ‘moral responsibility’ and use guilt to make family members feel they have to pay debts.

BEWARE: Creditors always come before heirs. That is why it is extremely important to protect your assets and start estate planning today!

If you live in Miami-Dade, Broward, or Palm Beach counties it is time to start discussing with loved ones their estate planning needs. You can’t predict the future, but you can plan for it.

Contact an experienced estate-planning attorney at The Hershey Law Firm, in Fort Lauderdale, Florida, at (954) 303-9468 to discuss your estate planning needs

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.