Hope For The Best, Prepare For The Worst

Posted by on May 30, 2014 in asset protection, estate planning, Probate, Trusts, Wills |

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As Hurricane Season beings this Sunday, June 1st, it would be wise to ensure that you are prepared for yet another potentially dangerous hurricane season. While many will gather materials and check their safety plans whenever hurricane season rolls around, few check their estate plans and prepare for their legal and financial futures. In fact many have done no planning at all and risk losing everything they have earned working so hard for over the years. Make sure your estate plans are set and you are prepared TODAY for anything that may happen tomorrow.

You can take full advantage of an estate plan which includes a Living Trust, Will, Durable Power of Attorney, and the Designation of a Healthcare surrogate. All of these estate planning tools will protect you and your family virtually indefinitely by ensuring that should anything happen to you all the plans will be in place. You could even take advantage of avoiding probate with the creation of a trust, potentially saving you and your loved ones thousands of dollars.

It’s a Wild world. Are you protected?SM

For more information on successful Florida estate planning and asset protection techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 to schedule your free consultation.

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It Is Not About Luck, It’s About Being Prepared

Posted by on May 27, 2014 in asset protection, estate planning, Probate, Wills |

Heat

The Pacers can talk the talk, but on game four they showed they couldn’t walk the walk. In game four, the Heat proved that is all about being prepared when it really counts and now, they are going to Indianapolis to finish up the series.

Being prepared and able to “put your money where your mouth is” is as important in sports, as it is in our every day life.  You have the power to take charge of your matters and most importantly, planning your estate. Just like the Heat cannot predict when they will win, we cannot predict or control when we are going to die. However, we can put our game face on plan ahead.  Do not let your fate be in the hands of someone else; you should be actively planning ahead to take charge of your future.

In South Florida, if you die without a will all of your assets will be automatically distributed “per stirpes.” The danger in this is that you lose all control over who will receive your estate, and your intentions become irrelevant. The statutory scheme may leave out groups of loved ones, such as stepchildren; and does not protect beneficiaries that are not mature enough to deal with a large inheritance. Such issues are unlimited, but can be avoided through proper estate planning.

By utilizing estate planning techniques, you can protect yourself and your family from unnecessary hassles while safeguarding your assets. Through a variety of estate planning tools, including Trusts, Wills, Powers of Attorney, Health Care Surrogates, Funding Techniques, and more; you can make your “safe” burglar proof!

For more information on successful Florida estate planning and business succession planning, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 to schedule your free consultation.

It’s a Wild world. Are you protected?SM

 

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Graduation Time and a Gift that Keeps on Giving

Posted by on May 12, 2014 in asset protection, estate planning |

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Graduation is a special occasion that is full of emotions for the graduating class as well as their families. Teenagers are becoming young adults and as parents, we worry about whether we gave our children the sufficient tools to step into the real world. You might have taught them how to use a bank account, balance a checkbook, and use credit cards responsibly, but as parents you are never really sure if you have done enough. However, there is no need to worry if we plan ahead and take an extra step to create an estate plan that will ensure they are as protected as possible. Once this plan is in place, you can relax with the knowledge that you have a sound financial and medical back-up plan that will safeguard your child from the unexpected times in life that could derail his or her educational future.  In Florida, there are certain standard legal documents that should be prepared by a professional estate-planning attorney who is familiar with the goals you wish to accomplish for your family.

For example, the designation of a healthcare surrogate authorizes you to get information from a hospital or a doctor about your child. You will not be able to get this information once your child is 18 years old unless you have a document giving you permission to access the information. Additionally, your child may be unconscious and unable to give permission. Florida’s HIPPA laws prevent the dissemination of medical information to others unless there are written directives authorizing the permission.

You will also want to prepare a durable power of attorney. This agreement will allow you to control your child’s financial needs. A power of attorney will allow you to handle your child’s affairs even though he or she is considered to be a legal adult. Most importantly, a durable power of attorney can be drafted to allow you to access your child’s bank account in case you need to pay your child’s bills, restrict her spending, or add to her account.

Seeing your kid go off to college can be as exciting as it is nerve-racking but planning ahead will give you some peace of mind.  Make a resolution to sit down with an estate planning attorney and create a plan that will meet your current needs while giving your children a truly meaningful gift: financial security for their future.

It’s a Wild world. Are you protected?SM

For more information on successful Florida estate planning and asset protection techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 to schedule your free consultation.

 

 

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Shopping For The Perfect Mother’s Day Flowers

Posted by on May 7, 2014 in asset protection, estate planning, Trusts, Wills |

BouquetNothing says happy mother’s day like a bouquet of beautiful flowers. However it may sometimes be difficult to find the perfect arrangement of flowers that will fit mom’s style and your budget.  Shopping around can be fun, but only when the shopping is of something you know about.  Decisions on estate planning on the other hand, are not as simple as choosing a color and a style. The planning process takes time and varies depending on the particular circumstances of each individual. An estate plan is a living entity; as factors in your life change, your plan should be altered accordingly. With the assistance of the right attorney you can choose from a variety of estate-planning techniques in Florida to create an estate plan that fits your needs and wishes such as:

  • Living Trust & Assignment of Property – a living trust allows you to distribute your assets while ultimately avoiding probate (the legal process of determining whether a will is valid). Re-examine your income stream and how you will want your assets distributed after your death. This is a good time to look at your entire estate and determine if you will need additional tax planning.
  • Last Will & Testament – this is your traditional will that is used upon death to distribute property to beneficiaries, specify last wishes, and name guardians for minor children. You may want to change who you have designated as a guardian, or burial requests.
  • Durable Power of Attorney – this allows you to designate and authorize someone to legally act on your behalf, in the event that you become incapacitated. As time goes on, you may want to change who will have the power to make financial decisions on your behalf. Furthermore, you want to ensure that your power of attorney document provides “super powers” to allow the agent to make decisions regarding retirement accounts, public benefits, gift exemptions, disclaiming property, and similar provisions that have financial consequences to your estate.
  • Combination Living Will & Designation of Healthcare Surrogate – this outlines important healthcare decisions in advance, and appoints a healthcare surrogate to make healthcare decisions for you when you become unable to do so yourself. You may decide that you will not want any life prolonging procedures in the event that you have one of the following conditions: (i) terminal condition (ii) end-state condition; or (iii) persistent vegetative state. In this case, you want to ensure that you have such wishes outlined in your living will.

It’s a Wild world. Are you protected?SM

For more information on successful Florida estate planning and asset protection techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 to schedule your free consultation.

 


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