This Tuesday was notoriously known as Fat Tuesday, otherwise known as Mardi Gras.  Not many people know that Mardi Gras celebrations date back to ancient Roman times with lots of today’s festivities like drinking, feasting, and debauchery.  During the Crusades, this carnival-like festival became known as the “last fling” of indulgence before the 40-day Lenten period of penitence.

Did you know that the first Mardi Gras held in the U.S. was around the mid 1800’s in New Orleans? Today, the city is enlivened with a cascade of parades starting on the Friday before Ash Wednesday. The traditional colors of Mardi Gras are purple, green, and gold which symbolizes justice, faith, and power, respectively.  Did you know that the King Cakes is the traditional Mardi Gras food? It is an oval cake honoring the three kings in these three colors. It is tradition to place a small plastic baby, symbolizing Baby Jesus into each cake. The person who gets the cake with the baby will have good luck that year.

Plastic babies found in cakes and all this “last fling” of celebrations before the mark of Lent, which is all about Jesus’ death, brings another important subject to mind. Estate planning. It is almost inconceivable that less than half of all Florida residents have an estate plan when everyone knows the death rate has, and will always be 100 percent. Our children are our gifts of life and it is our duty as parents and guardians to plan for their protection in the event we are accidently hit in the head by a Krewe member on a Mardi Gras float that knocks us unconscious…forever.

Don’t make the mistake of leaving your vulnerable little ones with the mess of probate, creditor claims,  and the burden of unnecessary high estate taxes.

The best time to get your estate plan in order is to do it when you are still alive. Our clients create estate plans in justice to their children. They have the power to decide the future of their loved ones and the faith in our team of highly experienced South Florida attorneys to develop the solutions they seek.

Honor the passing of Fat Tuesday by jumping on board our parade float of estate planning!

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?

Presidents Day was originally celebrated as George Washington’s Birthday and was the first federal holiday honoring an American citizen. Today Lincoln’s birthday is recognized as well. America is truly the greatest country.  No other enjoys the same freedoms as we do. However, with those freedoms comes a great deal of responsibility. We each take part in a critical election process that gives us a voice when it comes to the future of our beloved country. Many of us take great efforts in securing the best interests for our Nation’s future.

However, many of us don’t take this approach when it comes to the future of smaller sovereign units within our country- our families. One way to ensure the future of our beloved family members is to avoid the most common estate planning mistakes and correct any existing misconceptions.

Although there is so much to love about America, her estate plan is not one of them. If you do not take the initiative in setting up your own, your property will be distributed according to the laws of the state in which you live. This can prove disastrous to the family members you leave behind. Instead of your wishes being fulfill, the judge will have to decide whom your property goes to.

If you do have some kind of estate planning tool, most likely it is a will. A common misconception is that a will alone is enough. Probate will be the inevitable result. It is a time-consuming, complex, and costly process that can have dire results. A trust-based plan ensures the protection of your assets and full distribution according to your intent.

Finally another mistake people make is relying on a joint tenancy. Almost everyone own property and bank accounts in joint tenancy. However, there can be legal nightmares. A well-seasoned South Florida estate-planning attorney can counsel you on better options in order to ensure ultimate protection.

It’s important to rely on the right attorney to help you structure a plan so that your family members can enjoy freedom from endless and emotionally draining courtroom proceedings. You will ensure their peace of mind and reduce the burden of estate taxes. When it comes to the future of our families, nothing can be more important than securing their best interests with a solid estate plan.

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?

Jeremy Lin, the NY Knick’s most recent point guard, has become one of the hottest topics of social media generating the most Twitter volume of any NBA player. He’s also more talked about than even our own President! He has now become the NBA’s most prized asset due to his ‘athletic prowess.’

Speaking of assets, another hot topic comes to mind. South Florida Estate Planning. This is a different type of field requiring ‘asset planning prowess’ that only your highly qualified South Florida estate planning attorney can equip you with. Even though this topic may not be as exciting as watching a rising Asian- American basketball star rocking the court with his “ally-oop passes” and “super dunks,” it certainly is more important. After all, it isn’t about you; it’s about protecting those you love the most after you are gone. Think about it for a minute. We make sure we purchase health insurance just in case our children get sick. We purchase car insurance just in case our spouse gets into an accident. We even set up a pre-paid college plan just in case our children have trouble paying for school. Notice how we strive to protect our loved ones from situations that might occur; just in case. But we rarely stop to consider situations that will occur. Death is inevitable. The death rate in Floriada is 100 percent. That’s why estate planning is crucial.

With estate planning, our team at Wild, Felice, and Partners can help you protect your family savings and investments from lawsuits and claims while helping you avoid probate and reduce your estate taxes.

The NY Knicks invested in an all star team from the Ivies. Its time for you to invest in an all star legal team here in Broward County.

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 was quite surprising to learn of Whitney Houston’s unexpected death this weekend after attending a pre-Grammy party. It just goes to show that even the Queen of Pop is not immortal. With Valentine’s Day nearing tomorrow, we are all reminded about just how important it is to show that special person in our lives just how much we love them.

But what exactly is love? The more seasoned lovebirds will tell you that love is not a feeling; love is the things that we do.  You are probably thinking what you can do to make Valentine’s day memorable for your significant other. Are you thinking about buying your wife that bouquet of roses with her favorite box of chocolates just like every year? Or maybe this time around, you are considering getting her a pair of diamond earrings that would look absolutely ravishing on her ears. After all, diamonds are forever, right?

A suggestion for something a little more creative.  With this special gift, you won’t have to spend endless hours at the jewelry store.  It’s called South Florida estate planning. There is no better way to show her that you care and will love her forever than getting your estate plan in order. By doing this, you are essentially saying, “I want to make sure you are well taken care of and protected…. physically, financially and emotionally, no matter what happens in life. With this ultimate gift, I want to protect you today, tomorrow, and long after I am gone.” If that doesn’t express true and endless love, I don’t know what will.

Whitney Houston will live forever through her songs. You will live forever through your South Florida estate plan. Making a gift of this kind to express your love literally lasts longer than any shiny stone.

Call your South Florida experienced and highly qualified estate planning attorney today to guide you through the entire process to make sure your significant other is well-taken care of.

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?

So, the NY Giants defeated the Patriots last night in Super Bowl XLVI becoming champions of the NFL. Eli Manning and the Giants pulled off a last-minute touchdown drive to beat the Patriots 21-17 for their second Super Bowl Victory. The jokes are over. The questions are answered. Eli and his Giants are kings once again.

Football aside, one of the most important life questions might still remain unanswered. When are you going to get your estate plan in place? The natural inclination is to respond, “Oh, I’m never going to die” or “I’m too young to worry about that” or “I’m not a millionaire yet. I will worry about preserving my assets when I become rich.”

The death rate in Florida is 100%.  Shocking, I know. We might feel invincible and immortal at times but the sad truth is, we were born to die. And the best part is we really will never know when. It’s a surprise. When it comes to South Florida estate planning, wealth is not the primary factor to consider when deciding whether to structure a trust-based estate.

Estate planning and asset protection is really all about protecting your loved ones. Do you really want to subject your children, spouse, or family members to unnecessary and avoidable estate taxes? Do you want to let your family drown in a sea of probate perils?

If your answer is NO then call your South Florida Estate Planning attorney today. Don’t pull a Manning and try to score a trust at the last-minute.  Considerable care and planning is necessary for your attorney to be able to tailor the optimal plan to meet your objectives and ensure that your loved ones are protected once you are gone.  Nothing screams touchdown better than a secure and solid estate plan!

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 Sunday most of America will be glued to television sets while watching the Patriots and Giants battle it out on the football field. Everyone will be rooting for their favorite team while wolfing down Buffalo wings and downing endless cans of beer. During commercial airtime, you might be thinking how great it is that your family and friends are all together watching the biggest game of the year. So many memories are being filled right in your family living room. You then decide you are going to leave your house to your kids so that these memories will last forever. What a great idea!

However, without careful thought, you might be doing disservice to your children in the future.  If your residence is worth less than $5 million, most likely you will not have to pay any gift taxes. This is great. However, if your children decide to sell the house immediately, they will be hit with heavy capital gains tax. This is because your cost basis (whatever it cost you to purchase the house) is transferred over to the recipient. So if the fair market value of your house has substantially increased, Uncle Sam will dip into that higher gain.

However, the only way for your children to avoid such high taxes is for them to live in the house for at least 2 years before they sell it. This situation affords them the opportunity to exclude up to $250,000 from capital gain taxes.

What if you decide your children will instead inherit the real estate? In this case, the cost basis will become the current market value, which could translate into a lower gain and thus, lower taxes. However, there are estate tax consequences that will come back to haunt you.  So what do you do?

Take action and consult a highly qualified South Florida attorney to learn about all the available options that can save your children from harsh taxes.

Back in 2008, the Patriot’s offensive line failed to protect their quarterback Tom Brady from the NY Giant’s hard-charging defensive linemen. Don’t fail to protect your kids from Uncle Sam’s appetite for more taxes. Put down that plate of nachos and schedule an appointment today!

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?