They Tried To Make Her Go To Rehab, She Said “No, No, No.” … Then She Died.

Posted by on Jul 27, 2011 in asset protection, estate planning, Probate, Trusts, Wills |

With the tragic death of singer Amy Winehouse being the trending topic right now on news outlets and social networking platforms, atleast one estate attorney could not help but wonder whether the pop-star’s estate plan was in order.  After some research, it appears that Winehouse refused to be another high-profile cautionary tale of estate planning.  Reports indicate that she left her estate in terrific order with all major assets protected and interest set to be distributed to where she so desired.

British law seemingly favors spouses and ex-spouses when it comes to estate inheritance after ones death.  Winehouse did not wish for her assets to go to her ex-spouse, however, who is currently incarcerated.  Therefore, Winehouse planned accordingly by creating a specific will that redirected her estimated 16.4 million dollar estate to her parents and brother.

While this is really seeing the silver lining of such a sad story, that positive aspect is one that always goes appreciated by a decedent’s family and loved ones as well as estate attorneys worldwide.  It is always such a pleasure to hear celebrity success stories of estate planning, such as Winehouse’s, because too often it is the horror story that gets such sensational media exposure.  Too often celebrities leave their estate a mess and, as a result, the world hears about how certain assets ended up in the wrong hands, how a very specific loved one received no inheritance due to statutory law, or how millions of dollars in interest in the estate were lost due to estate taxes and probate administration.

No matter how big or small your estate is there are things you can do to protect your assets and assure that your family and loved ones are taken care of.  Some of the basics of a good estate plan include setting up a will, a living trust, and a power of attorney. A will gives you the opportunity to specify exactly who receives what assets.  A trust can be a smart way to avoid high estate tax charges by slowly transferring funds to intended inheritors reducing the overall value of your estate.  And a power of attorney allows you to appoint a trusted family member to handle your finances after you die.

These are some basic estate planning steps that every person should take whether a pop-star sensation or not.  It is irresponsible to go through life without an estate plan.  An ill planned estate can leave loved ones wanting and heartbroken more so than they would feel during a natural grieving process.  Call a reputable estate attorney now and set up an estate plan that is right for you.

For more information on successful Florida estate planning and probate, please contact the South Florida law firm of Wild Felice & Pardo, P.A. at 954-944-2855 or via email at info@wfplaw.com to schedule your free consultation.

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Are You Ready For Some Football?!

Posted by on Jul 25, 2011 in asset protection, estate planning, Probate |

The lockout has ended and the NFL is back!  Will you live long enough to see the 2011 season kick off?

Miracles happen all the time in the NFL in the form of comebacks.  And by comeback, we’re not talking about Brett Favre’s decision to come out of retirement after every offseason.

The greatest post-season comeback in NFL history was on January 3rd 1993 when the Buffalo Bills defeated the Houston Oilers, 41-38, in overtime of an AFC playoff game.  With 13:19 left in the third quarter, quarterback Frank Reich led the Bills to 5 TD’s in 20 ½ minutes to force an overtime.  The Bills then won the game in overtime on a field goal.

Another great NFL comeback was the ultimate “David vs. Goliath” win on February 3rd 2008 during Super Bowl XLII when the New York Giants upset the New England Patriots, 17-14, voiding them of their “Perfect 19-0 Season.”   Eli Manning led the Giants on a game winning drive that included the timeless “Catch-42,” a miraculous gravity defying catch over midfield, in which David Tyree completed the catch by pressing the ball against the back of his helmet.

And who can forget the “Comeback King,” Joe Montana.  Montana recorded 31 fourth-quarter comebacks during his NFL Career. One of his 31 comebacks came during a Super Bowl.  But his most impressive comeback had to of been on September 24th 1989 when the 49ers defeated the Eagles, 38-28.  Montana completed 11 of 12 passes for 227 yards and 4 TD’s in the fourth quarter.

These comebacks prove that no lead is ever safe in the NFL, and no win is guaranteed.  Miracles happen all the time in professional football.  Unfortunately, we can’t guarantee your future.  You could die before the 2011 season finally kicks off, or tomorrow, or today even.  But what we can guarantee is the future of your estate.  With a proper estate plan in place, your assets can be well protected and your future can be as guaranteed as when the quarterback takes a knee to run down the last few seconds of the game.  Call a qualified estate attorney now to form an estate plan that is right for you and your family.

For more information on successful Florida estate planning and probate, please contact the South Florida law firm of Wild Felice & Pardo, P.A. at 954-944-2855 or via email at info@wfplaw.com to schedule your free consultation.

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I HOPE You Are Not Planning Your Estate SOLO

Posted by on Jul 20, 2011 in asset protection, estate planning |

Over the weekend, the US Women’s Soccer team suffered a devastating overtime shootout loss in the World Cup to the Japanese Women’s team.  Despite the score, the US seemingly dominated the entire game, but Japan was able to sneak in a last second goal during regulation to tie the game 2-2 and force a shootout.  In overtime, the US team missed a few essential shots and one of the stars of the team, goalkeeper Hope Solo, could not make the big saves to bail out the US team.  In the end, it was a disappointing loss, especially after such a dramatic and unexpected victory of the heavily favored team Brasil early in the tournament.  Congratulations to the Japanese Women’s team on their World Cup.

When the game of life is on the line and the final shootout you are facing is literally life and death, put in an estate attorney from Wild Felice and Pardo to be your goalkeeper.  We have the instincts and quick reflexes to deflect any difficult shot that life takes to assure your assets are protected. Call us, and start protecting your most precious goal – your family estate.

For more information on successful Florida estate planning and probate, please contact the South Florida law firm of Wild Felice & Pardo, P.A. at 954-944-2855 or via email at info@wfplaw.com to schedule your free consultation.

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Recent Florida Legislature Benefits LLCs

Posted by on Jul 18, 2011 in asset protection, corporate formation, estate planning |

A couple of weeks ago, based on the 2010 case of Olmstead v. Federal Trade Commission, Florida Legislature concluded that multi-member LLCs are protected against creditors seeking to seize ownership interest in the LLC.  They clearly expressed their point by rewriting Florida Statute, §608.433, to match their intent.  As a result, Florida is one of only seven states to determine that the specific charging order of creditors is the only means of recovery against an LLC.

This recent Florida ruling just adds to the list of advantages of choosing an LLC over a corporation in the state of Florida.  In order to be better protected, a small business owner should be familiar with these advantages.

First, assets are much better protected through a multi-member limited liability company than through a corporation. Under a corporation, if an individual owner of a company, even with multiple owners, is sued, the creditor can seize shares of the corporation that form the entire ownership of the company.  Conversely, through a limited liability company, the creditor cannot seize those shares of ownership.

Second, there is tax advantage to using multi-member LLCs compared to corporations.  The owners of an LLC get to choose how their company will be taxed dependent on what form they decide to fill out.  The company can be taxed as an “S” or “C” corporation and, if there are multiple owners in the LLC, it will be taxed as a partnership by default.

Third, a multi-member LLC has an operating agreement that provides additional asset protection for business owners.  Under the operating agreement, which is regulations for the LLC, the owner can include a stipulation that can scare off creditors from even considering a charging order by essentially assuring penalty against them if they do so.

Fourth, multi-member LLCs are also beneficial when estate planning.  For example, if one was to give the gift of their partial interest of a company to a successor, an LLC allows the giver to remain in control of the company even though he or she no longer owns their share.  Furthermore, an owner of an LLC can transfer the interest of the business to the successor while still maintaining control of the operations for years to come while at the same time taking advantage of a $5 million dollar exemption on gift tax, if done before 2013.

Fifth, the transfer from an already existing corporation to a multi-member LLC is an easy and tax free transition. The process of the conversion is statutory based on Florida Law, which makes the process very efficient. Once the corporation is made into an LLC, the company is viewed as if it has always been an LLC since the time the corporation was formed.  Furthermore, after the conversion, if the company has the same owners with the same share proportions as prior to the conversion and those owners choose to have the LLC taxed in the same form that the corporation was taxed, there will be no additional taxation and no changes to how the LLC will be taxed.

In conclusion, unless a business is publicly owned or plans to go public, all business owners should be operating an LLC.  If you own a small business as a corporation and have no plans to go public, we urge you to convert to an LLC for all the reasons mentioned.  Contact a qualified estate and asset protection attorney as soon as possible to assist you.

For more information on successful Florida estate planning and probate, please contact the South Florida law firm of Wild Felice & Pardo, P.A. at 954-944-2855 or via email at info@wfplaw.com to schedule your free consultation.

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Greetings Earthlings

Posted by on Jul 11, 2011 in asset protection, estate planning, Trusts, Wills |

On Friday, July 8th 2011, NASA launched its final space shuttle, Atlantis, into orbit from Kennedy Space Center in Cape Canaveral, FL., closing the book on a 30 year stint of space travel.  The purpose of this final mission was to bring a care package of parts and supplies to an International Space Station.  The mission was Atlantis’s 33rd flight and the 135th shuttle launch of NASA.

NASA is expected to resume shuttle orbit sometime in the future, but not for many years from now.  The purpose of the stoppage is to save money that would have been spent on launches into the earth’s orbit to instead spend on the research and development of shuttles that would allow the US to explore the planet Mars and its moons.  This sort of advancement in space travel is expected to take many years.  As of right now, NASA has projected into the mid-2030’s as a tentative timetable for Mars exploration.

Maybe we will discover life outside of planet earth.  “The Red Planet” seems like a good place to start looking.  Maybe one-day we will find and say with certainty that we are not alone in this universe.  Who knows what aliens could look like?  It seems like the most common portrayal of aliens always imagines them with guitar pic shaped heads and large black eyes.  I, personally, imagine they would look like “E.T.” from the 1980’s movie.


This hold on NASA space travel will allow the US and the rest of the world to plan for the further exploration of the unlimited and unknown in space.  NASA is taking the proper steps to plan for the future and for the unknown in space.  Like NASA, you too should plan for your future and for the unknown in life.  The best way to do this is by setting up a customized estate plan right for you.

E.T. says, “Phone home.” We say, “Phone a qualified estate attorney.”

For more information on successful Florida estate planning and probate, please contact the South Florida law firm of Wild Felice & Pardo, P.A. at 954-944-2855 or via email at info@wfplaw.com to schedule your free consultation.

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