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Wealth Exposed: Insurance Planning for High Net Worth Individuals and Their Advisors

Book Description

An indispensable survival guide for high-net-worth individuals and their advisors

If you're like most high-net-worth individuals nowadays, you are underinsured, over-targeted in litigation, and dangerously exposed to risks that can profoundly jeopardize your lifestyle and rob you and your family of what they've worked so hard to achieve. Don't risk it all for lack of basic knowledge. Read Wealth Exposed and get the practical guidance and real-world solutions you need to protect your hard-earned assets.

Written by a leading national risk management expert with extensive experience advising high-net-worth individuals, Wealth Exposed alerts you to the full range of risks to which high-net-worth individuals are exposed, while schooling you in your risk management ABCs. Designed for high-net-worth individuals, their CPAs, attorneys, family office managers, and others, Wealth Exposed arms you with the knowledge and tools you need to protect yourself, or your clients, from mayhem.

  • Provides a framework for creating a comprehensive personal risk management strategy

  • Contains numerous real-life anecdotes and case studies drawn from the author's case files

  • Discusses insurance solutions for property, cars, jewelry, aircraft, watercraft, wine, cars, and more

  • Read Wealth Exposed and find out what you need to know to protect your assets from risk and secure your peace of mind.

    Table of Contents

    1. Cover Page
    2. Series Page
    3. Title Page
    4. Copyright
    5. Dedication
    6. Contents
    7. Introduction
      1. THE CHALLENGES OF WEALTH AND THE NEXT LEVEL
      2. WHY WEALTH EXPOSED NEEDED TO BE WRITTEN
      3. HOW TO USE THIS BOOK
    8. Chapter 1: Welcome! You Are at the Next Level
      1. A REAL-WORLD SUCCESS STORY
      2. WHAT RISKS ARE YOU FACING?
    9. Chapter 2: My-Oh-My, How Far You Have Come!
      1. REMEMBER YOUR FIRST APARTMENT?
    10. Chapter 3: Life Is Too Short to Drink Cheap Wine
      1. A LOOK AT MANAGING VALUABLES AND COLLECTIBLES SCHEDULES
      2. NOW TO THE WINE CELLAR FOR A VERTICAL TASTING OF LAFITE
      3. THEN THERE’S THE ANTIQUES, RUGS, CHINA, AND OTHER TREASURES
    11. Chapter 4: The Hired Help—Who’s Watching Whom?
      1. THE REAL RISK OF “NANNY REVENGE”
      2. WHAT CAN GO WRONG? EVERYTHING
      3. MANAGING THE RISKS OF HOUSEHOLD STAFF
      4. FOUR THINGS ALL DOMESTIC EMPLOYERS NEED TO KNOW ABOUT EMPLOYEE LAW
      5. WORKERS COMPENSATION, EMPLOYEE BENEFITS, AND THE EMPLOYMENT PRACTICES ISSUES DOMESTIC STAFF PRESENT
    12. Chapter 5: Which Car Will I Drive Today, the Ferrari or the Bentley?
      1. IT’S NOT YOUR OLDSMOBILE’S INSURANCE COVERAGE
      2. INSURING FOR THE UNDERINSURED AND UNINSURED
      3. HIGH-END CARS NEED HIGH-END INSURANCE COVERAGE
    13. Chapter 6: How Big Is Your Umbrella?
      1. STANDARD UMBRELLA POLICIES VERSUS SPECIALIZED UMBRELLA POLICIES
      2. HOW MUCH IS ENOUGH?
      3. FILLING THE GAPS
      4. NOT-FOR-PROFIT BOARD MEMBERS—ARE YOU AT RISK?
      5. SUMMARY
    14. Chapter 7: Toys, Toys, and More Toys
      1. CASE-IN-POINT
      2. MANAGING YOUR RISKS AT SEA...
      3. ...AND IN THE AIR
      4. YOU’D BETTER SWEAT THE SMALL STUFF
    15. Chapter 8: Personal and Family Security Risks
      1. WHOM ARE WE REALLY DEALING WITH HERE?
      2. WE’RE ALL AN OPEN BOOK
      3. UNDERSTANDING THE THREATS
      4. THE WORLD IS YOUR LIABILITY
      5. Preemptive Security Planning
    16. Chapter 9: The Dangers of Wealth
      1. HIGH PROFILE EQUALS HIGH RISK
      2. WHAT EXACTLY IS DEFAMATION?
      3. PROFESSIONAL LIABILITY
      4. THE HIGHER THE PROFILE, THE BIGGER THE LAWSUITS
      5. THE WEALTHY NEED TO PREPARE FOR THE WORST
      6. YOU ARE YOUR BRAND, SO YOU’D BETTER PROTECT IT
      7. PROTECTING YOUR INTELLECTUAL CAPITAL
    17. Chapter 10: Personal Risk Management Planning at the Next Level
      1. IT’S ALL DOWNHILL FROM HERE
      2. THE PERSONAL RISK MANAGEMENT PROCESS
      3. GENERIC SOLUTIONS JUST DON’T CUT IT AT THE NEXT LEVEL
    18. Chapter 11: Would You See an MD Generalist for a Heart Transplant?
      1. IT TAKES THREE TO TANGO
      2. WHAT YOUR PROPERTY-CASUALTY AGENT DOESN’T KNOW CAN HURT YOU
      3. IT’S NOT JUST ABOUT INSURANCE
      4. ADVANTAGES OF CONSOLIDATING YOUR PERSONAL RISK PROGRAM
      5. SERVICE FIT FOR KINGS AND QUEENS
      6. IT TAKES A VILLAGE
    19. Chapter 12: Getting Started with Next-Level Planning
      1. IT’S NOT GOING TO GET ANY EASIER
      2. HOW DO YOU EAT AN ELEPHANT?
      3. GO AHEAD AND RIP OFF THAT BAND-AID!
    20. Chapter 13: Making the Move Abroad
      1. IT’S ALL IN THE PLANNING
      2. WHAT EVERY EXPATRIATE SHOULD KNOW ABOUT INTERNATIONAL INSURANCE COVERAGE
      3. INTERNATIONAL PROPERTY COVERAGE
      4. VALUABLE ARTICLES VERSUS REGULAR PROPERTY
      5. SCHEDULING YOUR VALUABLES
      6. STORING YOUR PROPERTY
      7. TRANSIT INSURANCE
      8. INTERNATIONAL PERSONAL UMBRELLA LIABILITY COVERAGE
      9. KEY TAKEAWAY—DON’T LEAVE HOME WITHOUT IT
    21. Chapter 14: Weaving It all Together
      1. FRANCESCA’S FABULOUS LIFE—A CASE STUDY
      2. FRANCESCA’S DIRECTORSHIP
      3. FINAL STRATEGIES FOR FRANCESCA AND JOHN
      4. SUMMARY
    22. Conclusion
      1. IT’S EASIER THAN YOU THINK
    23. Appendix A: Sample Personal Lines Checklist
    24. Appendix B: Coverage and Service Comparison
    25. Appendix C: Specialized Flood Insurance versus Standard Flood Insurance
    26. Appendix D: Ten Items to Include in Family Disaster Plan
    27. Appendix E: Breakdown of Audio and Video Recording Laws
      1. VIDEO RECORDING
      2. AUDIO RECORDING
    28. Insurance Glossary
    29. Useful Websites for Personal Risk Management and Insurance Information
    30. About the Author
    31. Index