With Father’s day around the corner many will celebrate this Sunday by spending the day with dad, others may not be so fortunate. Whenever a loved one passes with or without leaving behind a will, the family must go through a process called probate. Probate is the process by which Florida courts oversee the distribution of the estate’s assets, such as any property, savings or bank accounts, investment accounts, and even valuable personal property such as cars or jewelry.

The probate process begins by appointing a personal representative who would be in charge of distributing the assets of the estate; personal representatives are often named in wills, if there is no will then the personal representative must be elected by all interested parties. After the personal representative has been chosen the court will then issue Letters of Administration, empowering the personal representative to begin distributing the assets of the estate.

Under Florida law if the value of the estate exceeds $75,000 then the state requires an attorney be retained in order to represent the estate and the personal representative in order to avoid any fraudulent or erroneous administration of the estate.

For more information on the Florida probate process, 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

On Saturday, America watched as 2014 Kentucky Derby and Preakness winner California Chrome came up a head short of winning the Belmont States and becoming the first horse to capture the Triple Crown since 1978. Although California Chrome was a heavy favorite heading into the race, a foot injury suffered coming out of the gate quickly derailed the horse’s chances of a victory. While not many of us here in Florida will have a horse vying for the Triple Crown in our lifetimes, California Chrome can teach us a valuable lesson: our best-laid plans can change in an instant. Don’t be unprepared in case something goes wrong in the race of life.

An unexpected injury like the one California Chrome suffered could lead to far worse consequences than simply not winning a competition. If you are injured or incapacitated in Florida without having a durable power of attorney, your family may be unable to make all the important decisions or sign necessary documents. Without the designation of a healthcare surrogate and a living will, you may find yourself receiving care that goes against your wishes.

In the worst-case scenario of a death, proper estate planning is even more important. If you die without a correctly executed estate plan in place, Florida law will determine how your property is distributed, regardless of your desires. By using a living trust to distribute the assets, not only will you have complete discretion over who gets what, you will be able to avoid probate, making for a smoother transition for your loved ones during this tough time in their lives. Of course, if you are going to use a living trust, don’t forget to assign property to it (otherwise, it won’t do you any good.) We can never know what obstacles we will encounter along the way, but with preparation and proper estate planning, you can rest easier knowing you won’t come up just short at the end of the race.

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

The movement to legalize same-sex marriage around the nation continues and on Monday Oregon became the 18^th state to allow same sex marriages. However, Florida’s outlook for same sex marriage is grim. Florida’s laws regarding gay marriage, and its outright ban on gay adoptions, make it particularly important for same sex couples to properly create an estate plan that documents their wishes and addresses their needs.

Make sure your beloved partner is protected upon your passing.  At Wild Felice & Partners, we can work with you to draft a comprehensive estate plan to recreate some of the rights and benefits of traditional married couples.  Some key elements include:

• Last Will and Testament to ensure that your estate is not blindly distributed according to intestacy laws.
• Living Will which will specify how you would like to be taken care of in case of incapacity.
• Designation of Health Care Surrogate which will allow your same-sex partner to give informed consent for your medical treatment.

Our South Florida law firm treats estate planning in terms of a married couple, so the fee plan for a same-sex couple will naturally get the same treatment.  For more information on how to plan for your partner’s future, contact our South Florida law firm of Wild, Felice & Partners, PA for a free consultation at (954) 944-2855.

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

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.

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