Surely, Steve Job’s death came as a shock to us all when he past away last week. The CEO of Apple Inc. was just 56 years old. He left behind his wife, son, and 3 daughters. His net wealth was estimated to be in the billions.

We all know Jobs was a perfectionist in his business pursuits. He continuously sought new ways to strategically position his products by foreseeing and setting innovative trends in the industry of technology. He was meticulous at managing and protecting both his business and private affairs. Jobs once said “It comes from saying no to 1,000 things to make sure we don’t get on the wrong track… it’s only by saying no that you can concentrate on the things that are really important.” It would come as no surprise that one of the 1000 things that Jobs said “no” to was the prospect of leaving his family without the protection of an estate plan. He most likely foresaw the need to get his assets in order so that the most important people in his life, his family, would be sheltered from the legal and financial burdens arising from endless courtroom proceedings and hefty estate taxes. Since Jobs liked to keep his personal life out of the public eye, he probably established a trust to maintain the privacy of his assets and its distribution to his family. His loved ones may very well be lucky enough to avoid traditional probate and public scrutiny. We will probably have to wait for the next few months to find out what will transpire with Job’s multi-billion dollar estate, that is, if we ever do.

We should all follow Job’s lead. Protect your family and get your estate in order today. It’s time to get…as Apple Inc. once said “Wildly innovative”.

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.

It’s a Wild world. Are you protected?

Benjamin Franklin said there were only two things certain in life: death and taxes. He was absolutely right. But he forgot one more important thing…probate! It is of vital importance that survivors of a deceased person understand what probate means, the procedures involved, and the legal ramifications of their decisions, which is why everyone should take the time to sit down with a South Florida Probate Attorney.

Probate is the legal process employed by probate courts in identifying the assets of a decedent, paying off any existing debts, and distributing assets to the beneficiaries of an estate. This process is triggered by presenting the decedent’s death certificate. Although there is no set time frame for the entire probate process, survivors of a decedent can generally expect the process to last at least 6 months. However, depending on the complexity of the estate, it can take many years before probate is resolved. One can also expect to be in the frequent presence of a judge, attorneys, the executor of the deceased’s will, health care providers, the IRS if any taxes such as estate or income are owed, and credit card companies if there are any outstanding debts. This can seem like a daunting process no one wants to be a part of.

There is hope. This situation can become less painful by choosing a law firm you can trust to help you navigate through this complicated process in an efficient and simplified manner.  An attorney will ensure your will is properly written and executed and help you establish a trust that fits your needs. You will receive guidance on gifting and property transfers that will save your family a headache by the possibility of almost avoiding probate altogether.

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

It’s a Wild world. Are you protected?

There is more involved in selecting the right executor to execute a will then is commonly thought. The ‘chosen one’ is delegated the responsibility in administering a will through the South Florida probate process, a court process that involves accounting for assets, paying bills, and distributing property according to the decedent’s wishes. Personality is everything. The ideal candidate is someone who is trustworthy and willing to take on a role that demands a high tolerance for rules, formalities, and of course, tedium. This task is not for the faint at heart. The probate process can take years, especially for bigger and more complicated estates. The executor must be mentally prepared to play the middle role in the inevitable situations of disputing heirs. This means, more trips to the courthouse and more legal proceedings.

The ideal executor should also keep up to date with news on tax law and investments.  Monitoring progress and overseeing that everything is done according to plan is no task for amateurs. It is also a good idea to confront the person that’s anticipated to take on the job. That way, the ‘executor to be’ can consider whether he or she will be able to fulfill the role successfully and meet expectations of the ‘decedent to be.’ If there is a conflict of interest, there is still a pool of candidates to choose from. The last thing someone wants is Grandson Bachelor looking like a deer in headlights when he realizes he is now solely responsible for managing and distributing the assets in Granny Smith’s estate when all he can think about is the next Mardi Gras or Oktoberfest. Although family members are usually appointed as executors, it is important to make the selection carefully and wisely; otherwise someone might be turning in their grave. Don’t be the victim of an executorship gone bad.

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.

It’s a Wild world. Are you protected?

At the end of the classic movie Gran Torino, there is a reading of Walt Kowalski’s will, played by Clint Eastwood. He leaves his family shocked when they realize whom he left his house and Ford Gran Torino to. But wouldn’t it be cool to get your hands on the infamous .30 M-1 caliber semi-automatic shoulder rifle or the .45 caliber pistol that he used to intimidate and put those nasty gang members back in their place? Too bad no one mentioned the Gun Trust to Mr. Kowalski.

Many people collect guns for target shooting, hunting, and even for self-defense. Later, they would like to pass them down to their heirs so they can also enjoy such recreational activities or feel safe with an added layer of protection. This is all done through a Gun Trust. This is a special purpose revocable living trust which holds only firearms. Regulations can get complicated though. Considerations involve where the beneficiary lives, the laws of that state, the laws of the state where the items are located, and the eligibility of the beneficiary to be in possession of a weapon. Gun Trusts are created primarily for NFA restricted firearms such as silencers, short-barreled rifles, shotguns, and machine guns.  A state may further restrict regulations.  However, creating this trust can save a lot of time.  A person does not have to worry about obtaining approval from the local Chief Law Enforcement Officer. Also, detailed instructions can be provided regarding the transfer of a gun. The trust must be properly drafted due to the complexities of federal and state law. Improper administration of regulated firearms can result in a criminal conviction and hefty fines.

So whether you’re passing on your highly coveted gun collection to your heirs or that precious gold necklace heirloom Aunt Edna could never stop talking about, it’s important to have a qualified attorney with the necessary experience to effectively ensure the correct disposition of your assets.

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

It’s a Wild world. Are you protected?