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

<p>Introduction xi</p>
<p>The Challenges of Wealth and the Next Level xii</p>
<p>Why Wealth Exposed Needed to Be Written xiii</p>
<p>How to Use This Book xiv</p>
<p>Chapter 1 Welcome! You Are at the Next Level 1</p>
<p>A Real–World Success Story 1</p>
<p>What Risks Are You Facing? 5</p>
<p>Chapter 2 My–Oh–My, How Far You Have Come! 9</p>
<p>Remember Your First Apartment? 9</p>
<p>Chapter 3 Life Is Too Short to Drink Cheap Wine 23</p>
<p>A Look at Managing Valuables and Collectibles Schedules 24</p>
<p>Now to the Wine Cellar for a Vertical Tasting of Lafite 34</p>
<p>Then There s the Antiques, Rugs, China, and Other Treasures 36</p>
<p>Chapter 4 The Hired Help Who s Watching Whom? 39</p>
<p>The Real Risk of Nanny Revenge 39</p>
<p>What Can Go Wrong? Everything 40</p>
<p>Managing the Risks of Household Staff 41</p>
<p>Four Things All Domestic Employers Need to Know about Employee Law 42</p>
<p>Workers Compensation, Employee Benefits, and the Employment Practices Issues Domestic Staff Present 44</p>
<p>Chapter 5 Which Car Will I Drive Today, the Ferrari or the Bentley? 49</p>
<p>It s Not Your Oldsmobile s Insurance Coverage 49</p>
<p>Insuring for the Underinsured and Uninsured 52</p>
<p>High–End Cars Need High–End Insurance Coverage 55</p>
<p>Chapter 6 How Big Is Your Umbrella? 57</p>
<p>Standard Umbrella Policies versus Specialized Umbrella Policies 58</p>
<p>How Much Is Enough? 59</p>
<p>Filling the Gaps 60</p>
<p>Not–for–Profit Board Members Are You at Risk? 61</p>
<p>Summary 62</p>
<p>Chapter 7 Toys, Toys, and More Toys 63</p>
<p>Case–in–Point 64</p>
<p>Managing Your Risks at Sea . . . 65 . . . and in the Air 68</p>
<p>You d Better Sweat the Small Stuff 74</p>
<p>Chapter 8 Personal and Family Security Risks 77</p>
<p>Whom Are We Really Dealing with Here? 78</p>
<p>We re All an Open Book 78</p>
<p>Understanding the Threats 82</p>
<p>The World Is Your Liability 84</p>
<p>Preemptive Security Planning 86</p>
<p>Chapter 9 The Dangers of Wealth 89</p>
<p>High Profile Equals High Risk 89</p>
<p>What Exactly Is Defamation? 90</p>
<p>Professional Liability 91</p>
<p>The Higher the Profile, the Bigger the Lawsuits 92</p>
<p>The Wealthy Need to Prepare for the Worst 93</p>
<p>You Are Your Brand, So You d Better Protect It 94</p>
<p>Protecting Your Intellectual Capital 95</p>
<p>Chapter 10 Personal Risk Management Planning at the Next Level 97</p>
<p>It s All Downhill from Here 97</p>
<p>The Personal Risk Management Process 99</p>
<p>Generic Solutions Just Don t Cut It at the Next Level 101</p>
<p>Chapter 11 Would You See an MD Generalist for a Heart Transplant? 103</p>
<p>It Takes Three to Tango 103</p>
<p>What Your Property–Casualty Agent Doesn t Know Can Hurt You 105</p>
<p>It s Not Just about Insurance 107</p>
<p>Advantages of Consolidating Your Personal Risk Program 109</p>
<p>Service Fit for Kings and Queens 111</p>
<p>It Takes a Village 112</p>
<p>Chapter 12 Getting Started with Next–Level Planning 115</p>
<p>It s Not Going to Get Any Easier 116</p>
<p>How Do You Eat an Elephant? 117</p>
<p>Go Ahead and Rip Off that Band–Aid! 118</p>
<p>Chapter 13 Making the Move Abroad 121</p>
<p>It s All in the Planning 122</p>
<p>What Every Expatriate Should Know About International Insurance Coverage 122</p>
<p>International Property Coverage 125</p>
<p>Valuable Articles versus Regular Property 126</p>
<p>Scheduling Your Valuables 126</p>
<p>Storing Your Property 127</p>
<p>Transit Insurance 127</p>
<p>International Personal Umbrella Liability Coverage 127</p>
<p>Key Takeaway Don t Leave Home without It 129</p>
<p>Chapter 14 Weaving It all Together 131</p>
<p>Francesca s Fabulous Life A Case Study 131</p>
<p>Francesca s Directorship 139</p>
<p>Final Strategies for Francesca and John 140</p>
<p>Summary 141</p>
<p>Conclusion 143</p>
<p>It s Easier than You Think 144</p>
<p>Appendix A<br /> Sample Personal Lines Checklist 145</p>
<p>Appendix B<br /> Coverage and Service Comparison 149</p>
<p>Appendix C<br /> Specialized Flood Insurance versus Standard Flood Insurance 155</p>
<p>Appendix D<br /> Ten Items to Include in Family Disaster Plan 157</p>
<p>Appendix E<br /> Breakdown of Audio and Video Recording Laws 159</p>
<p>Notes 161</p>
<p>Insurance Glossary 163</p>
<p>Useful Websites for Personal Risk Management and Insurance Information 173</p>
<p>About the Author 175</p>
<p>Index 177</p>