Wisconsin’s Gov. Walker is the nation’s first governor to survive a recall election despite the roars of union workers protesting at the Capitol. Voters apparently endorsed his business like approach requiring public employees to contribute more to their health insurance and pension benefits, like in the private sector. His plan erased a billion dollar budget deficit, reduced unemployment rate to below 7 percent, and prevented layoffs of policemen, firefighters, and teachers.

With our lackluster economy, investment uncertainty, and decreasing home values, the important question now becomes what is your strategy for protecting your family against financial distress and fragmented relationships? With a properly constructed estate plan, you can save your family tens of thousands of dollars, protect them from creditor claims, and undue taxes. However, this is not an easy task. Due to these hard times, there has been an increase in contested estates and heated disputes among heirs and beneficiaries.

There are some steps you can take to avoid family conflict and unnecessary probate litigation.

The pinnacle of a solid estate plan is to hire a good South Florida estate planning attorney. It’s important to select one that is highly qualified with the knowledge of Florida state laws and experience in this complex area of law.

Selecting the right personal representative to administer your estate and trustees to manage your trusts requires a well thought out plan. If you anticipate unavoidable family friction, it might be best to appoint a professional fiduciary such as a bank to manage your affairs.

Most people don’t think to sit down with family members to discuss their intentions and how they wish to bequeath their assets. However, clear and effective communication can help avoid unpleasant family disputes once you are gone. In addition, updating and confirming your estate plan over time will minimize challenges to your estate. Finally, always make sure your assets are clearly titled to avoid any confusion in the future.

If the family divide still cannot be mended, you can always try taking Walker’s advice and offer them some brats and beer.

If you have family, friends or even a charitable intent, the absence of an estate plan is inexcusable. For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Partners, 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?

Astrue v. Capato, although a very unusual recent case, exemplifies the importance of creating a precisely worded, up to date estate plan that takes into account all possible life contingencies. This case is especially important if you do not want to unintentionally disinherit your children.

Florida resident Robert Capato and his wife Karen decided to freeze his sperm upon his diagnosis of esophageal cancer and upon learning that treatment could render him sterile. Following Robert’s death, Karen underwent in-vitro fertilization while living in Florida using his stored sperm. She then moved to New Jersey and gave birth to twins.

The problem was that Robert’s will, signed in Florida, failed to mention any children who might be born subsequent to his death. Karen, the child she conceived with Robert while he was alive, and his children from a prior marriage were the only named beneficiaries. According to Florida law, children conceived after a parent’s death cannot inherit from that parent, unless that are referred to in his or her Will.

When Karen claimed Social Security Survivor Benefits for the twins; her application was denied because Robert was already dead when the twins were conceived. The U.S. Supreme Court became involved ruling that Florida laws of intestacy applied because the children were conceived in Florida and therefore, the twins were not eligible for government benefits.

You can avoid such dire consequences by taking action now. All it takes is one simple phone call to your South Florida estate-planning attorney to avoid putting your loved ones through such grief and turmoil.

If you have family, friends or even a charitable intent, the absence of an estate plan is inexcusable. For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Partners, 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?

It’s not surprising that celebrity marriages melt faster than a stick of butter in a hot frying pan. So, it came as no shock after Katy Perry and Russell Brand recently called it quits. During their short marriage she was filming her movie “Part Of Me” where a camera crew accompanied her on world tours and filmed private moments with Russell.

Her ex-husband is now asking her to edit his scenes out but his requests have fallen on deaf ears. Apparently the footage reveals a not so pleasant Russell that could tarnish his public image. Maybe this is a form of retaliation on Katy’s part or maybe a healing process in letting the whole world see the real Mr. Brand.

However, the best remedial measures she can take after a painful divorce is to protect her assets. One commonly overlooked area of estate planning after a considerable life change such as a divorce, is updating one’s beneficiary designation forms. If Katy has designated Russell as the beneficiary of any life insurance policies she may have taken out or under any saving and investment plans, she should remove him. Otherwise, in the event she turn from “Hot” to permanently “Cold” with no more “Last Friday Night” excursions to sing about, the funds will be transferred to Russell’s estate. Now, that could really put a dent to an already broken heart.

It’s important to talk to your South Florida estate planning attorney on how to modify your estate plan so that your “intended” beneficiaries are accounted for so that you do not mistakenly disinherit them.

If you have family, friends or even a charitable intent, the absence of an estate plan is inexcusable. For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Partners, 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?

This Memorial Day South Floridians and citizens all across the nation took some time to remember the men and women who died while serving in the U.S. Armed Forces. Cemeteries and memorials were visited to honor those who have been wounded or died while serving our country.

Other people give back in another meaningful way. They make gift bequests to veteran and military charitable organizations. For example, donors might gift a certain percentage of their estate to these foundations. Proceeds guarantee continued growth and development of future educational programs and provide benefits for our soldiers. However, it is a good idea to have your South Florida attorney assist you during this process.

Such a bequest can provide estate tax benefits. If you are considering this option, there is a variety of valuable gifting vehicles your South Florida attorney can apprise you of including the use of specialized trusts such as Lead trusts, Charitable trusts, and Remainder trusts to suit your specific agenda.

Creating your legacy through planned giving is an admirable act that demonstrates your core, personal values and character. By making your mark on humanity, why not also benefit your estate?

If you have family, friends or even a charitable intent, the absence of an estate plan is inexcusable. For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Partners, 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?

Recently, Facebook has been receiving more attention than usual. There was a lot of reaction following the company’s IPO, its stock going public, and of course Mark Zuckerberg’s surprise marriage to Priscilla Chan.

So what does Facebook have to do with South Florida Estate Planning? More than you think.

Many of us are avid users of Facebook and we realize that our daily lives revolve around social media and profiles including Twitter, Flickr, and LinkedIn. However, most of us fail to consider what will happen to the online content and how our identities will be handled after we die. There’s more to it than that.

The Internet has become our new reality. Every day we are glued to our computer screens checking our multiple email accounts and paying our bills online. Business transactions have virtually gone paperless. We rely on our digital assets such as Netflix, Pandora, iTunes and anything else that requires a monthly fee.

What’s most interesting is that the U.S. government strongly suggests making a social media will. Like with a traditional will, an online personal representative will need to be appointed to close all your email addresses and social media profiles such as Facebook. You may decide to keep your social media profiles for friends and family as a memorial profile after you die.

Your digital assets must be accounted for in order to ensure proper distribution upon death. Because almost everything is done online, don’t forget to consider any online data you may be in possession of such as online bank accounts, investment accounts, bill paying accounts, and e-books. These relevant accounts along with username and passwords should be stored in your estate planning documents.

We can’t take for granted what’s consistently in front of our eyes. Our digital assets are just as important as any other assets owned and should be part of your estate plan.

If you have family, friends or even a charitable intent, the absence of an estate plan is inexcusable. For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Partners, 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?