When we get into a car, we are required by state law to wear a seatbelt.  Government studies have shown that wearing a seatbelt increases the probability of drivers and passengers surviving if not walking away from automobile accidents.  When driving our children, family members, or friends, we will typically alert and remind them to put wear their seat belts.  We do this because it is required by state law, but also because we know the statistics and care about the safety and welfare of passengers in our vehicles.

Protection planning, such as putting proper estate or business planning documents and systems in place, is similar to the wearing of seatbelts.  We know if not explicitly, but intuitively, that if we do not return home, the family will have a greater chance of thriving in life if we put the proper protections in place.

Estate planning documents help determine who will take care of our family members but also how they will be cared for.  Business planning documents, such as buy sell agreements and intra-family business transition planning documents will provide a greater chance of the business continuing into the future if the owner or key players do not make it to the office because of disability or death.

Though a 5 point harness is better than a simple lap belt, something is better than nothing.  The first step is to put in place what is easily available.  Through additional discussions and development, additional layers of protection, aka 5 point harness planning, can be put in place.  But just because a vehicle does not have a 5 point harness does not mean a driver, or their passengers, should forego the laptop seatbelt.

Moral of the story – use what you have.  If you have nothing, put the basic protection planning in place.  If your driving, or your life, requires a 5 point harness, we can put one in place.

Don Sweet is a California attorney in San Mateo who regularly helps clients with their seat belt protection planning and can be reached at 415-746-9542.