Peyton Manning is a name almost every American is familiar with, even if you’re not a football fan.  This is likely because he is labeled one of the NFL’s most iconic figures.  His list of successes is quite long and includes being a five-time MVP, Super Bowl MVP, and two-time Super Bowl winner.  It’s estimated Manning has raked in around $247 million in earnings during his career. Now pushing 40 years of age, Manning is considering retiring from the game for good.  Rest assured if he does, he will leave quite the legacy behind for both his fans and family; one that cannot be changed or altered in anyway.  Just like Manning, you too should ensure your legacy is set in stone and protected for your family and future generations.  Ok, the legacy you leave behind may not look quite like Manning’s (as I’m sure none of ours will) but that doesn’t make protecting it any less important.

No matter if you own a large estate, moderate estate or even a smaller one – protecting what you’ve worked hard for should be a priority.  Estate Planning is the process of making arrangements during your life for the disposal of your property after you pass away and preparing for life’s unforeseen events that may leave you incapacitated.  This may be accomplished in a number of ways but the most popular is by creating a Revocable Living Trust.  A Revocable Living Trust will allow you remain in control even after you’re gone by allowing you to set restrictions on when your beneficiaries receive their share.  You can choose the age they must attain to receive their share, ensure they graduate college, or set any other type of restriction you wish.  The Revocable Living Trust can also protect the beneficiaries share against any unsecured creditors such as divorce, bankruptcy or litigation.  Without a plan in place, your assets will not only be open to the possibility of unsecured creditors but you also risk your assets ending up in the hands of individuals you may not even like since they will be distributed according to Florida Law.  With the Trust based plan, you can rest assured that everything will be distributed the way you choose and in the manner you deem fit.  Along with your Trust based plan, you will receive other important documents such as:

Last Will and Testament: Nominate your Personal Representative, choose a Guardian for any minor child, and add any burial or cremation requests.

Living Will:  Advanced directive or “pull the plug” document.  Allows your healthcare surrogate to give the doctor the “ok” to pull the plug if you are being kept alive by artificial means.

Durable Power of Attorney:  Nominate an individual to make financial decisions on your behalf or qualify you for public benefits, should you not be in a position to do so yourself.

Healthcare Surrogate & HIPAA Release:  Nominate an individual to access your medical records and make informed decisions on your behalf, should you not be in a position to do so yourself.

You may not be considered a MVP in the NFL like Manning, but you can ensure you leave a legacy behind just as he has.  Call the South Florida Law Firm of Wild, Felice & Partners today for your free consultation at (954) 944-2855.  For more information on Estate Planning or Revocable Living Trusts, visit our website at www.wfplaw.com.

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

Chances are that at some point you have considered using your IRA funds to make some type of profitable investment (or you will at some point in your future!).  You may have also felt limited in doing so to either investing in only stocks or bonds.  If you find yourself nodding your head while reading this blogpost, then rest assured you’re not alone in feeling that way – most individuals feel limited in their options when investing their IRA funds.  The good news is that taking control of your IRA is only two steps away!

1. In order to open up your investment options you should first consider moving your IRA to a Self Directed Custodian. Truth is, you could stop here but there will be a few draw backs. First, you will have to consult with the custodian prior to making investments, such as purchasing a piece of real estate inside your IRA. The custodian would have to title the real estate on behalf of your IRA – a task that would not only be time consuming and inconvenient, but costly since the custodian will charge extra fees for it. If this doesn’t seem appealing, then move onto step two below.
2. Once you have moved your IRA to a Self Directed Custodian, you then will want to create an IRA Checkbook Limited Liability Company (“LLC”). Once you create this Checkbook LLC, the Self Directed Custodian will give you a check for the amount of cash you desire from your IRA. You will then deposit this check into your LLC’s account and, since you are the manager of this account, you have full “checkbook control” over the assets. Now the options really begin to open up! You can purchase real estate, stocks, bonds, notes and make other investments permitted by the IRS. If this task seems a bit confusing or scary, have no fear – the attorneys at Wild, Felice and Partners will guide you through the process and simplify everything along the way.

For more information about IRA investing or the Checkbook LLC, please call the South Florida Law Firm of Wild, Felice & Partners at (954) 944-2855.  Call today to schedule your free consultation and allow our attorneys to provide you with the ultimate peace of mind!

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

Designating your minor children as a beneficiary can be disastrous!  Believe it or not, there is a strategy to listing your beneficiaries; one that can save your family money and stress once you’re gone.  Listen in as Michael Wild explains in greater detail the importance of proper beneficiary designation.  Give us a call at(954) 944-2855 and schedule your free consultation today!

For more information on Estate Planning, visit our website at www.wfplaw.com.

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

Ever wonder why you shouldn’t attempt to draft your own estate plan?  Listen in as Michael Wild shares real world experiences  to help illustrate the dangers involved in creating your own estate plan.  Making a mistake within the drafting or execution of your estate plan can have real consequences and may result in your wishes not being honored.  Call us today for your free consultation at (954) 944-2855.

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

Some artists are fortunate enough to experience a thriving career for a solid decade. Legendary artist David Bowie was able to remain relevant and thrive for more than 40 years.  Bowie, perhaps best known for his glam rock style and movie role in The Labyrinth, passed away at the age of 69 after battling cancer for more than a year.  It’s hard to imagine what his family is experiencing during this troubling time.  Their main focus should be on grieving and consoling one another (and hopefully it is).  Unfortunately, if Bowie didn’t have an estate plan in place this very emotional time may become clouded with legal matters.

Benjamin Franklin put it best when he said “if you fail to plan, you are planning to fail.” While this quote can undoubtedly be applied to many areas of your life, it is especially true when it comes to estate planning.  Estate planning is planning for the distribution or management of your assets in the event that you should become incapacitated or pass away.  The Last Will and Testament is likely the most basic estate planning technique and one everyone should have.  If you are skeptical, then keep in mind that Benjamin Franklin quote as I illustrate what will happen in the event that you don’t have a will in place.  By failing to create a will you are surrendering control over your assets and allowing the state to begin making some very important decisions on your behalf.  The state will decide who will raise your minor children (should you have any), who will act as personal representative and statute will determine who will receive your assets.  This could mean that someone you do not like could end up inheriting all that you own.  Unfortunately, whether you have a will or not, your loved ones will be subject to the probate process (the legal process of administering the decedent’s estate).  However, with a will you can eliminate a lot of stress involved with the probate process, potential arguments between loved ones and ensure that your wishes are not only heard but followed.

You may not be a rock legend like Bowie but you certainly have acquired assets through hard work just as he has. Don’t fail to plan, call the attorneys at Wild, Felice & Partners, P.A. today at 954-944-2855 and schedule your free consultation.

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