According to Guinness World Records, the last man alive from the nineteenth century has passed away. Jiroemon Kimura, the oldest man in recorded history, was 116 years old. The resident of Kyōtango, Japan, was being treated for pneumonia in the past week when he stopped responding to treatment. He then died of natural causes. I wonder if he had an estate plan in place?

Whether you live to be 116 years old or die tomorrow, one thing is for sure; Kimura’s case is extremely rare, and there are no guarantees. There is no better time than now to set up an estate plan to protect you and your loved ones. Wild Felice & Partners is a full-service, Fort Lauderdale, Florida based law firm with a specialty in asset protection. We utilize a combination of estate planning, real estate, corporate formation, family law, and asset structuring to assure that our clients are protected from potential litigation, creditors, and any other threats that may be looming.

An estate plan is not just about death. Whether you are still at the early part of your earning potential, have young children to worry about, or are concerned with reducing the possible estate tax or probate mess, accomplishing these goals as quickly as possible is crucial.

While our South Florida estate planning attorneys have the knowledge and experience to provide the highest level of estate tax planning, our firm aims to shed the tax paradigm and focus instead on the dynamic relationships between our clients and their loved ones. WFP Law realizes that estate planning is truly for the loved ones that we leave behind.

Our comprehensive estate plans include the following:

 1. Living trust

 2. Assignment of Property

 3. Last Will and Testament

 4. Durable Power of Attorney

 5. Combination Living Will & Designation of Healthcare Surrogate

South Florida residents can all only hope to live as long as Kimura did, but in the mean time while we are still alive and kicking, it is crucial to set up an estate plan.  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.

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

Florida Gator superstar, Tim Tebow, has been signed by the New England Patriots. After a disappointing season playing backup to Mark Sanchez, Tebow was finally released by the New York Jets in late April. Previously, there had been numerous speculations of Tebow’s NFL career coming to end, but Patriots coach Bill Belichick begs to differ.

Even though Tebow has been intent on saying he can and will be a full-time NFL quarterback once again, he has still been waiting for a team to pick him up since April. Unlike Tebow, you have the power to take charge of your matters, most importantly, planning your estate. We cannot predict or control when we are going to die. However, we can control what happens after we are gone.  Do not let your fate be in the hands of someone else; you should be actively planning ahead to take charge of your future.

Michael D. Wild is a Florida attorney specializing in the areas of estate planning and asset protection. 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 or via email at mwild@wfplaw.com to schedule your free consultation.

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

Summer is finally here, and with that brings Father’s Day. Family picnics, barbeques, celebrations, and everything else that comes along with the holiday should not have you forgetting about your estate plan. The truth is, the holiday should not only be about celebrating, but should also be reminding you that it is important to protect you and your loved ones. If you do not already have a solid estate plan in place, NOW is the perfect time to create one.

Wild Felice & Partners is a full-service, Fort Lauderdale, Florida based law firm with a specialty in asset protection. We utilize a combination of estate planning, real estate, corporate formation, family law, and asset structuring to assure that our clients are protected from potential litigation, creditors, and any other threats that may be looming. A properly designed asset protection plan can accomplish many of your most important objectives:

• Protection of family savings and investments from lawsuits and claims.
• Protection against inadequate or unavailable insurance coverage.
• Insulation of rental properties reducing your exposure to potential lawsuits.
• Protection of business assets and accounts receivable from potential claims.
• Elimination of probate.
• Reduction of estate taxes.

While our South Florida estate planning attorneys have the knowledge and experience to provide the highest level of estate tax planning, our firm aims to shed the tax attorney paradigm and focus instead on the dynamic relationships between our clients and their loved ones. WFP Law realizes that estate planning is truly for the loved ones that we leave behind.

Our comprehensive estate plans include the following:

• Living trust
• Assignment of Property
• Last Will and Testament
• Durable Power of Attorney
• Combination Living Will & Designation of Healthcare Surrogate

So for this Father’s Day, utilize the holiday to protect you fathers and grandfathers, and set up a solid estate plan.  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.

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

News outlets have been blowing up with news regarding Apple Inc & their sour tax practices. While it may seem as though an Apple a day keeps the profits hidden away; a big crunchy bite is not the cure for foreign tax collectors. France has a sour taste in its mouth (likely, from a granny smith), and has hit Apple with a $6.5 million tax bill.

While there is not enough caffeine this side of the Mississippi to fully discuss taxation and legal tax shelters, it is important to note that individuals who do not report their foreign assets may be subject to some hefty fines.

Any U.S. person that transfers assets to, and holds an interest in a foreign bank account or entity may be required to report under both the IRS code, as well as the Bank Secrecy Act.

If you have a financial account or any foreign assets, there are two major reporting requirements that you need to be aware of (keep in mind, this list is not exhaustive):

#1 Report of Foreign Bank & Financial Accounts – “FBAR” (Form TD F 90-22.1):

• A “U.S. person” that has a financial interest or other authority over foreign financial accounts that have an aggregate value exceeding $10,000, must report an FBAR (unless it falls within one of the exceptions). This includes anything from a bank account to a trust.

#2 Statement of Specified Foreign Financial Assets – Form 8938:

• Taxpayers that have an interest in an account or asset with specified foreign financial assets that exceed $50,000 (on the last day of the tax year) or $75,000 (at any time during the tax year) must report those assets to the IRS.

Florida residents, the filing of #1 does not preclude the filing of #2, & vise-versa. Furthermore, failure to report will result in penalties. Back to our “apple” analogy: if you fail to report, an apple a day does not keep the fines away. It is always better to report, than to face the alternative.

Because of the complex nature of taxes, you should consider seeking a Florida attorney to ensure that you are properly reporting your foreign assets, and avoiding fines.

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.

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

In thursday night’s 30th anniversary episode of “Wheel of Fortune,” Autumn Ernhard’s name went down in the books as the second wheeling-wonder fortunate enough to reach $1 million in winnings. She left the show with a fortune figure of $1,030,340.00, stating she was in “utter shock” & “shaking.” It is undetermined whether her “shakes” are a result of muscle fatigue from the new hefty burden in her pockets, or the nerves associated with planning her estate & further preserving her new fortune.

The million-dollar-side-effects can be cured with the help of a Florida estate planning attorney.

Ease your mind with the top 5 estate planning strategies to cure a case of the shakes:

1. Living Trust – a living trust has become increasingly desirable due to its ability to avoid probate (the legal process of determining whether a will is valid). There are three parties involved in a trust: (1) you, the creator; (2) the trustee(s) (who manage the assets in the trust); and (3) the beneficiaries. If you are married, you may want to designate yourself and your spouse as co-trustees, so that you have full control over the property while you are still alive. Side Note: such control does have tax consequences, so you will want to discuss this with your estate planning attorney.
2.  Assignment of Property – this is exactly that, assigning your property to your trust. This includes both real & personal property. A trust does not do anything for you if there is no property in it.
3.  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.
4.  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.
5.  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.

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.

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