How much security does your Wealth Require?
To be honest, security needs for a majority of individuals with money typically are up to the person and their comfort level. Some companies force a security system/bodyguard on you. However, many people with millions of dollars to blow will still pinch pennies and don’t feel a need for personal security at all. Still others feel more secure with a body guard and a high priced alarm system. While others feel a need to build a safe room or a bunker in their house and invest in biometric scanners and such. Our firm has been asked to do Security Assessments for all walks of life from the not-so-rich all the way to million dollar corporations. In the end every client is happier and more enlightened at the end, regardless of which path they choose. In almost all cases the client(s) asks something like, “Do you really think I need Security”? The answer to that question is it doesn’t matter what I think…. it is what you think. For those that want to take some security steps, we are going to discuss some things that the “SUDDENLY” wealthy or even those with “OLD” money should do as a minimum:
#1 – Get a GOOD ATTORNEY – while setting up trusts, companies, investments or whatever an attorney is going to be a part of your life from now on. In addition, they can help hide your residence(s) to prevent would be snoopers, kidnappers or distant relatives from coming around. Having a good attorney or law firm to be a partner for life in maintaining your best interests, growing your money and keep you out of jail come tax season should be a priority.
#2 – Ask yourself WHO is IMPORTANT – for your future. This obviously means your immediate family. Anyone else could be suspect at this point. You unfortunately have to determine who may try to manipulate you, steal from you, threaten you, sell your secrets, or in any other way try to take money from you now that you have an excess. People change with money. Period. You will change out of necessity, while others may change out of opportunity and jealousy. You have to have a plan. You have to know who you can trust.
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