Facebook is now thinking smart when it comes to planning for ones departure of this world.  As of February 2015, you can now designate a “legacy contact” in your Facebook settings, which will allow a family member or close friend to manage your account after you pass away. Facebook used to only offer family members the ability to be able to “memorialize” the account which was a basic way for friends and family to still be able to write on the decedent’s wall. This was definitely a nice feature to offer however, the account of the deceased was unable to be managed by anyone.  From a survey that Facebook released, users were upset about this feature so Facebook decided to step up and support those who are grieving.

Here’s how to choose your legacy contact:

1. Open your setting. Choose security and then Legacy Contact which appears at the bottom of the page.
2. After designating your legacy contact, you’ll have the option to send a message to that person.

So, what will a legacy contact be able to do?

• Write a post to display at the top of the memorialized timeline (to announce a memorial service or share a special message)
• Respond to new friend requests from family members and friends who were not yet connected on Facebook
• Update the profile picture and cover photo

It’s important to understand that being a legacy contact is different from just logging into someone’s account. The chosen legacy contact will not be able to log in as the person who passed away or see that persons private messages. The legacy contact also cannot edit what the deceased has already posted, or what his or her friends have posted on the page. As a Facebook member, you can change your legacy contact at any time but once you pass away the legacy contact cannot pass along the responsibility to someone else. With that being said, make sure the designated legacy is aware of the responsibilities and agrees to keep your social media account the way that you want it to remain.

Aside from the designated legacy having those rights, friends and family will still be able to write on the person’s wall to keep them in memory.

If you don’t feel comfortable or decide to opt out of designating a legacy contact, Facebook also gives you the option to delete your whole account after death.

Plan smart when it comes to managing your assets and now your Facebook account after you depart because as we always say, it’s a Wild world, are you protected?

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.

Estate Planning & Asset Protection Needs for the
Newly Married Same-Sex Couple

Same sex couples are saying “I do” from the white sandy beaches of Panama City all the way to the Southernmost point of Key West. As of January 6, 2015, Florida became the 36^th state to allow same-sex marriage.

As they celebrate their new matrimony, Wild Felice and Partners provides same-sex couples with key information to ensure that each partner is taken care of. The laws have changed; therefore the estate planning and asset protection plans have to change as well.

One of the options use to protect the assets of both partners is referred to as Tenancy by the Entirety. A Tenancy by the Entirety is a designation that only married couples can use and offers excellent asset protection benefits, including the following:

Benefits of Tenancy by the Entirety:

• Both spouses have an undivided interest in the property, with full rights to occupy and use it. As a result, neither spouse can transfer property without the other spouse allowing it.

• If one of the spouses gets sued or incurs a liability, creditors and lawyers cannot go after his/her property because both spouses own the property simultaneously.

• If one spouse dies, the other spouse automatically takes sole ownership of that property.

The lists of benefits could go on and on but we understand that you are in the throes of matrimonial bliss!

Wild Felice and Partners is dedicated to helping you understand the laws and make a seamless transition into your new marriage. As a legal couple in the state of Florida, we highly encourage setting up a free consultation to ensure that you and your spouse are protected.

Click here for a free consultation: http://wfplaw.com/Contact-Us.html

As I sit here watching the Victoria Secret Fashion Show (I swear it was my wife’s idea!) I cannot help but think about…asset protection.

These stunning young ladies spend hours upon hours working out, dieting, and sculpturing their bodies to perfection, so 9.3 million Americans can curse their parents for bad genes and swear to begin dieting tomorrow. Thanks to the models hard work in the gym, their external assets guarantee them a spot on the runway.

Much like Giselle spends hours in the gym protecting her assets, we suggest spending a few hours a year on protecting your assets. However, you assets come in a different form, no offense.

These assets are in the form of estate and business planning. Estate and business planning gives you control over your assets from beyond the grave. What if you wish for your money to go to your daughter and not her new husband? Estate planning guarantees your baby girl receives the assets she deserves.

What if your business is sued? You may find yourself personally liable for judgment against your business and at risk of losing everything. When your assets are in a trust, they cannot be reached by creditors, litigation, bankruptcy or divorce.

In other words, for asset protection,Giselle avoids calories and you avoid creditors. 

To learn more about asset protection through estate planning visit http://wfplaw.com/Personal-Asset-Protection.html

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.

We work hard for the money, so hard for it, honey. We work hard for the money, so you better treat it right… and get yourself an asset protection plan.

We may be a little off regarding the lyrics of Donna Summer’s 1983 hit, but we are right on point when it comes to protecting yourself.

Whether you’re a multi-million dollar singer/songwriter or janitor, everyone should have an asset protection plan in place. These plans are no longer for the ultra rich or business owners, they are created for anyone who cares about protecting the assets they work hard to obtain.

With that said, Wild Felice & Partners provides the four main benefits of having an asset protection plan:

1. If you have experienced a car accident, a medical emergency or lose your job, you are susceptible to creditors and potential lien holders. These circumstances make you an easier target for a lawsuit, thus putting your home, cars, money, retirement accounts etc. at risk.

2. Almost every insurance policy has exclusions or limits, an asset protection plan should cover anything missing by your insurance coverage.

3. The more unprotected assets you own, the more likely a creditor could sue you or your business for those assets. Most attorneys do an in-depth analysis of your assets prior to stepping foot in court in order to see where you are most vulnerable. Have the peace of mind that your assets are protected before, during and after legal proceedings.

4. Asset protection not only protects your money, but also preserves it. This investment will appreciate in value, the older it is, the strong it becomes.

So as you stare at the clock, which seems to be going backwards and cursing us for getting “She works hard for the money” stuck in your head, remember the importance of protecting your assets.

To learn more or schedule a free consultation, contact Wild Felice & Partners at http://wfplaw.com/Contact-Us.html or call us at 954-944-2855.

—

Wild Felice & Partners is a full-service, Fort Lauderdale, Florida based law firm with a specialty in estate planning, asset protection, elder law, and probate administration. Our law firm provides the knowledge and experience of a large law firm, while giving our clients the hands-on service and attention to detail that only a smaller firm can truly offer.

The ALS Ice Bucket Challenge has become a viral Internet sensation, raising over  $15 million so far for the ALS Association to research Lou Gehrig’s disease. Not only has this phenomenon multiply donations to find a cure, but it has also spread ALS awareness.

Awareness of this terrible disease can make you think about the sudden changes life can bring regardless of whether you know someone who has been affected by ALS.   Regardless of age or health, it is never too early to start planning ahead because you never know what the future will bring to you or your loved ones.

A proper estate plan will answer three key questions: what are your assets? Where are they going? How will they get there? These questions are simple but the answer can be quite complicated. The planning process takes time and varies depending on the particular circumstances of each individual. An estate plan is a living entity; as factors in your life change, your plan should be altered accordingly. With the assistance of the right attorney you can choose from a variety of estate-planning techniques in Florida to create an estate plan that fits your needs and wishes such as:

• Living Trust & Assignment of Property – a living trust allows you to distribute your assets while ultimately avoiding probate (the legal process of determining whether a will is valid). Re-examine your income stream and how you will want your assets distributed after your death. This is a good time to look at your entire estate and determine if you will need additional tax planning.
• 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. You may want to change who you have designated as a guardian, or burial requests.
• 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. As time goes on, you may want to change who will have the power to make financial decisions on your behalf. Furthermore, you want to ensure that your power of attorney document provides “super powers” to allow the agent to make decisions regarding retirement accounts, public benefits, gift exemptions, disclaiming property, and similar provisions that have financial consequences to your estate.
• 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. You may decide that you will not want any life prolonging procedures in the event that you have one of the following conditions: (i) terminal condition (ii) end-state condition; or (iii) persistent vegetative state. In this case, you want to ensure that you have such wishes outlined in your living will.

Planning for the future and using the technique that’s right for you will protect your family from hassles when the time comes. Get ahead of the other 50% of Florida resident and get an estate plan now. It’s never too early to plan ahead.

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