Time to break out your red, white and blue gear and get your stomachs ready for some serious BBQ because July 4^th is right around the corner!  Most Americans will be celebrating Independence Day with good food, friends, family, flowing drinks and a fire work display.  Why not add an estate plan to the mix?

Unfortunately, it’s a common misconception that estate planning is just for the rich or elderly.  Estate planning is actually a necessary step for individuals of all ages, no matter what their economic status may be.  At a bare minimum, everyone should consider having a Will in place to designate guardians on behalf of minor children, spell out wishes for cremation or burial and include how you wish your assets to be distributed.  For business owners or individuals with a growing family, a Revocable Trust is always a great option since it details how, when and to whom the distributions will be made.  You can ensure your children finish college, have the funds for a first home or reach an age of maturity before inheriting a great deal of money.  Other important documents that everyone should have include the following:

Living Will:  This advanced directive is better known as the “pull the plug” document.  By signing a living will, your healthcare surrogate has the authority to tell the doctor to pull the plug and let you pass naturally.

Durable Power of Attorney:  Nominate who will continue to pay your bills, have access to your accounts and be able to make other important financial decisions on your behalf should you temporarily be unable to do so yourself.

Healthcare surrogate and HIPAA Release:  Decide in advance who will have access to your medical records and be responsible for making important healthcare decisions on your behalf should you be unable to do so yourself.

This 4^th of July, don’t just party because it’s Independence Day but celebrate because you know you, your family and future generations to come are fully protected.  Celebrate knowing you have achieved ultimate peace of mind through creating an estate plan.  Call the attorneys at Wild, Felice & Partners at (954) 944-2855 for your free consultation today.

For more information on Estate Planning, Asset Protection and Probate Administration, visit our website at www.wfplaw.com.

It’s A Wild World.  Are You Protected? SM

If you enjoy going to the theater, maybe you’ve had a chance to see the movie Me Before You which is currently showing, and is based upon the best-selling book of the same name. The story revolves around a successful, vigorous and adventuresome young man named Will Traynor, who experiences a traumatic accident and is subsequently left a quadriplegic.

Fortunately, it’s fiction and so we can cry and cheer for him as he struggles with love and his reason to live, and when the movie ends, move on with our lives. Yet, it’s hard not to wonder what we’d do if this happened to us or to someone we love. Although you may not be spending your time scaling mountains and traveling to exotic locations as Mr. Traynor did prior to his accident, it’s possible that our lives, and those of our family, could be altered both suddenly and drastically.

It’s hard to consider our vulnerability when our lives are going as swimmingly as Will Traynor’s life had been. Yet when things are smooth, it’s the ideal time to plan for when they might not be. If we’d been written into the book (surely just an oversight), we’d have advised Mr. Traynor to put some thought into his estate plan for this sort of unanticipated event. A few important documents could ensure that you have control of your health and wealth decisions, including a:

• Living Will – An advanced directive that is sometimes called the “pull the plug” document. If you sign this document, it will allow your healthcare surrogate to give the OK to the doctor to remove any artificial life support. This is only after two doctors have agreed that nothing further can be done and that the artificial support is what is keeping you alive.
• Durable Power of Attorney – This document will allow someone to make important financial decisions for you, allow access to accounts and continue to pay bills if you are unable to do so yourself.
• Healthcare Surrogate and HIPAA Release Form – Your healthcare surrogate will make informed medical decisions after reviewing your records, which the HIPAA release will allow them to do. In the event that you are unable to authorize a surgery or make any other type of important medical decision, your healthcare surrogate will step in and do so for you.

Make the important decisions today. Call the estate planning attorneys at Wild, Felice & Partners for your free consultation at (954) 944-2855.

For more information on estate planning, asset protection and probate, visit our website at www.wfplaw.com.

It’s A Wild World. Are You Protected? SM

DJ Calvin Harris was involved in a car accident when his SUV was struck by a VW Beetle.  Even though the VW was significantly smaller in size, it still caused a violent crash that resulted in one of the young teenagers breaking her hip and landed Harris in the hospital.  Luckily, everyone is alive and recovering but this incident is a reminder of how unpredictable life can be.

What if something like this (or worse) happened to you?  Do you know who would continue to pay your bills?  Who would make important healthcare decisions on your behalf?  If you have children, do you know who will raise them if you are no longer around?  Or how it is that your assets will be distributed?  Wouldn’t you want the ability to answer these questions and remain in control of your future no matter how unpredictable life may be?  The great news is that you can with an estate plan.

A properly executed estate plan will allow you to remain in control, either during times of incapacity or even after you’re long gone.  By executing documents like a Durable Power of Attorney or a Healthcare Surrogate and HIPAA release you are able to designate an individual to make important financial and healthcare decisions on your behalf.  A Last Will and Testament will appoint guardians to raise your children and include cremation or burial requests.  You can even direct how your assets will be distributed in your Will but it will be subject to Probate.  If Probate is something you wish to avoid then the Revocable Living Trust may be a better option for you.

For more information regarding estate planning and your options, please call (954)944-2855 for your free consultation or, visit our website at:  www.wfplaw.com.

It’s A Wild World.  Are You Protected? SM

If you’re quiet, you may be able to hear a few hundred hearts breaking across the Country as more and more ladies discover Ryan Gosling just welcomed his second daughter with Eva Mendes.  A second baby for the Hollywood hot throb is a strong indicator that he is in it for the long haul with Eva, but it also means it’s time to start planning for the future of his growing family.  While you’re picking up the pieces of your broken heart and facing the cruel reality that Ryan will never be yours, consider this:

When you welcome a new child to the world your priorities instantly change; you not only want to protect your child, you also want the best for them.  Providing them with the protection and care you deem fit is easy while you’re alive but what would happen if you and your spouse were suddenly no longer around?  It’s not an easy thought to grasp or even a thought we wish to consider; however, it is reality.

By creating an estate plan you are able to designate a guardian, someone who will raise your child the way you would want them to be raised.  You’re not only able to direct where your assets will go but can also choose how you want them distributed.  You can create restrictions on when your child receives their share, ensuring they are old enough to handle the inheritance in a mature way.  Leaving a legacy behind to your children will allow them to go to college, have their dream wedding and have the financial stability to purchase their own home.  A Living Revocable Trust is the most favorable option when considering how to achieve these goals.  Your Revocable Trust plan will also include other important documents such as the Last Will and Testament, Living Will, Durable Power of Attorney, Healthcare Surrogate and HIPAA release.  All seven documents provide ultimate protection to both you and your family.

Once your estate plan is in place it should be reviewed with an attorney at least once every 3 to 5 years.  This is necessary to determine if any changes need to be made due to a possible marriage or divorce, additional birth of child, death of a beneficiary or trustee, possible changes in tax law, or legal drafting requirements.

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

With all the media buzz over the recent passing of musical genius Prince you’re likely hearing a lot about Probate and may be wondering what the heck it is and why you should care.  Florida has one of the worst Probate systems in our country which is why it is so important to take the time to understand the process and plan accordingly.

What is it and why should I care?

If you pass away with assets left by Will then your assets must go through the Probate process.  Probate is the legal process of proving a Will in court.  The size of your estate will determine which type of probate administration will be necessary.  A smaller estate (one where the assets are valued at less than $75,000) will require a Summary administration.  Summary administration is less costly but may still last as long as a year, which means your beneficiaries will have to wait quite some time before receiving whatever is you left them (no matter how much they may need the assistance).  If your estate is worth more than $75,000, then your estate will require a full administration which is very costly and can take years before it is finished.  At a time when everyone should be focused on grieving and healing, they will instead be forced to deal with the judicial system and related stress that accompanies it.

Probate is time consuming, costly and offers no real benefit to the family members left behind which is why you should really consider avoiding it all together.

How can I avoid Probate?

Probate avoidance can be accomplished in a number of ways but the most favorable tends to be through a Revocable Living Trust.  By creating a Revocable Living Trust you not only ensure Probate avoidance but you remain in control of how your assets will be distributed.  If you die without an estate plan in place, you die intestate – which means that Florida intestate succession laws will decide who gets your assets.  By being proactive you remain in control of your assets, may be able to reduce estate taxes, can name guardians on behalf of your minor children and, of course, avoid probate.

For more information on Probate, Estate Planning, and Asset Protection, visit our website at www.wfplaw.com or call (954) 944-2855 for your free consultation.

It’s A Wild World.  Are You Protected? SM